atnx-10q_20200630.htm
false Q2 0001300699 --12-31 Large Accelerated Filer us-gaap:AccountingStandardsUpdate201613Member true true us-gaap:AccountingStandardsUpdate201613Member P6Y P4Y10M20D P3Y2M26D us-gaap:PropertyPlantAndEquipmentNet P5Y8M4D P5Y6M21D P4Y8M23D P6Y2M12D P6Y3M18D 0001300699 2020-01-01 2020-06-30 xbrli:shares 0001300699 2020-07-31 iso4217:USD 0001300699 2020-06-30 0001300699 2019-12-31 iso4217:USD xbrli:shares 0001300699 us-gaap:ProductMember 2020-04-01 2020-06-30 0001300699 us-gaap:ProductMember 2019-04-01 2019-06-30 0001300699 us-gaap:ProductMember 2020-01-01 2020-06-30 0001300699 us-gaap:ProductMember 2019-01-01 2019-06-30 0001300699 atnx:LicenseAndOtherRevenueMember 2020-04-01 2020-06-30 0001300699 atnx:LicenseAndOtherRevenueMember 2019-04-01 2019-06-30 0001300699 atnx:LicenseAndOtherRevenueMember 2020-01-01 2020-06-30 0001300699 atnx:LicenseAndOtherRevenueMember 2019-01-01 2019-06-30 0001300699 2020-04-01 2020-06-30 0001300699 2019-04-01 2019-06-30 0001300699 2019-01-01 2019-06-30 0001300699 us-gaap:CommonStockMember 2018-12-31 0001300699 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001300699 us-gaap:RetainedEarningsMember 2018-12-31 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001300699 us-gaap:TreasuryStockMember 2018-12-31 0001300699 us-gaap:ParentMember 2018-12-31 0001300699 us-gaap:NoncontrollingInterestMember 2018-12-31 0001300699 2018-12-31 0001300699 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001300699 us-gaap:ParentMember 2019-01-01 2019-03-31 0001300699 2019-01-01 2019-03-31 0001300699 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001300699 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0001300699 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001300699 us-gaap:CommonStockMember 2019-03-31 0001300699 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001300699 us-gaap:RetainedEarningsMember 2019-03-31 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001300699 us-gaap:TreasuryStockMember 2019-03-31 0001300699 us-gaap:ParentMember 2019-03-31 0001300699 us-gaap:NoncontrollingInterestMember 2019-03-31 0001300699 2019-03-31 0001300699 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001300699 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001300699 us-gaap:ParentMember 2019-04-01 2019-06-30 0001300699 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001300699 us-gaap:NoncontrollingInterestMember 2019-04-01 2019-06-30 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001300699 us-gaap:CommonStockMember 2019-06-30 0001300699 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001300699 us-gaap:RetainedEarningsMember 2019-06-30 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001300699 us-gaap:TreasuryStockMember 2019-06-30 0001300699 us-gaap:ParentMember 2019-06-30 0001300699 us-gaap:NoncontrollingInterestMember 2019-06-30 0001300699 2019-06-30 0001300699 us-gaap:CommonStockMember 2019-12-31 0001300699 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001300699 us-gaap:RetainedEarningsMember 2019-12-31 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001300699 us-gaap:TreasuryStockMember 2019-12-31 0001300699 us-gaap:ParentMember 2019-12-31 0001300699 us-gaap:NoncontrollingInterestMember 2019-12-31 0001300699 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001300699 us-gaap:ParentMember 2020-01-01 2020-03-31 0001300699 2020-01-01 2020-03-31 0001300699 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001300699 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0001300699 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-03-31 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0001300699 us-gaap:CommonStockMember 2020-03-31 0001300699 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001300699 us-gaap:RetainedEarningsMember 2020-03-31 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001300699 us-gaap:TreasuryStockMember 2020-03-31 0001300699 us-gaap:ParentMember 2020-03-31 0001300699 us-gaap:NoncontrollingInterestMember 2020-03-31 0001300699 2020-03-31 0001300699 us-gaap:CommonStockMember 2020-04-01 2020-06-30 0001300699 us-gaap:AdditionalPaidInCapitalMember 2020-04-01 2020-06-30 0001300699 us-gaap:ParentMember 2020-04-01 2020-06-30 0001300699 us-gaap:NoncontrollingInterestMember 2020-04-01 2020-06-30 0001300699 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-04-01 2020-06-30 0001300699 us-gaap:CommonStockMember 2020-06-30 0001300699 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0001300699 us-gaap:RetainedEarningsMember 2020-06-30 0001300699 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0001300699 us-gaap:TreasuryStockMember 2020-06-30 0001300699 us-gaap:ParentMember 2020-06-30 0001300699 us-gaap:NoncontrollingInterestMember 2020-06-30 0001300699 atnx:DunkirkMember us-gaap:ManufacturingFacilityMember 2020-06-30 0001300699 atnx:SeniorCreditAgreementMember 2020-06-30 0001300699 atnx:RevenueInterestFinancingAgreementMember 2020-06-30 0001300699 atnx:SeniorCreditAgreementMember 2020-06-19 atnx:Tranche 0001300699 atnx:SeniorCreditAgreementMember 2020-06-18 2020-06-19 0001300699 atnx:SeniorCreditAgreementMember 2020-01-01 2020-06-30 xbrli:pure 0001300699 us-gaap:CommonStockMember atnx:SeniorCreditAgreementMember srt:MaximumMember 2020-06-19 0001300699 us-gaap:CommonStockMember atnx:SeniorCreditAgreementMember 2020-06-19 0001300699 2020-01-01 0001300699 2020-01-01 2020-01-01 0001300699 atnx:SeniorCreditAgreementMember 2020-06-30 0001300699 atnx:SeniorCreditAgreementMember 2020-01-01 2020-06-30 0001300699 us-gaap:LicensingAgreementsMember 2020-06-30 0001300699 atnx:PolymedCustomerListMember 2020-06-30 0001300699 atnx:PolymedTechnologyMember 2020-06-30 0001300699 atnx:CDEInProgressResearchAndDevelopmentMember 2020-06-30 0001300699 us-gaap:LicensingAgreementsMember 2019-12-31 0001300699 atnx:PolymedCustomerListMember 2019-12-31 0001300699 atnx:PolymedTechnologyMember 2019-12-31 0001300699 atnx:ProductRightsMember 2019-12-31 0001300699 atnx:ProductRightsMember 2019-01-01 2019-12-31 0001300699 atnx:CDEInProgressResearchAndDevelopmentMember 2019-12-31 0001300699 2019-01-01 2019-12-31 0001300699 atnx:HanmiPharmaceuticalsCoLtdMember us-gaap:LicensingAgreementsMember 2020-01-01 2020-06-30 0001300699 atnx:GlandPharmaLtdMember us-gaap:LicensingAgreementsMember 2020-01-01 2020-06-30 0001300699 atnx:MAIAPharmaceuticalsIncMember us-gaap:LicensingAgreementsMember 2020-01-01 2020-06-30 0001300699 atnx:MAIAPharmaceuticalsIncMember atnx:LicensesOfOtherSpecialtyProductsMember 2020-01-01 2020-06-30 0001300699 atnx:PolymedMember us-gaap:CustomerListsMember 2020-01-01 2020-06-30 0001300699 atnx:PolymedMember atnx:PolymedTechnologyMember 2020-01-01 2020-06-30 0001300699 atnx:CDEInProgressResearchAndDevelopmentMember 2020-01-01 2020-06-30 0001300699 us-gaap:MoneyMarketFundsMember us-gaap:CashAndCashEquivalentsMember 2020-06-30 0001300699 us-gaap:FairValueInputsLevel1Member us-gaap:MoneyMarketFundsMember us-gaap:CashAndCashEquivalentsMember 2020-06-30 0001300699 us-gaap:CertificatesOfDepositMember us-gaap:CashAndCashEquivalentsMember 2020-06-30 0001300699 us-gaap:FairValueInputsLevel2Member us-gaap:CertificatesOfDepositMember us-gaap:CashAndCashEquivalentsMember 2020-06-30 0001300699 us-gaap:USTreasuryAndGovernmentMember us-gaap:CashAndCashEquivalentsMember 2020-06-30 0001300699 us-gaap:FairValueInputsLevel2Member us-gaap:USTreasuryAndGovernmentMember us-gaap:CashAndCashEquivalentsMember 2020-06-30 0001300699 us-gaap:CommercialPaperMember us-gaap:CashAndCashEquivalentsMember 2020-06-30 0001300699 us-gaap:FairValueInputsLevel2Member us-gaap:CommercialPaperMember us-gaap:CashAndCashEquivalentsMember 2020-06-30 0001300699 us-gaap:CertificatesOfDepositMember us-gaap:ShortTermInvestmentsMember 2020-06-30 0001300699 us-gaap:FairValueInputsLevel2Member us-gaap:CertificatesOfDepositMember us-gaap:ShortTermInvestmentsMember 2020-06-30 0001300699 us-gaap:AvailableforsaleSecuritiesMember us-gaap:ShortTermInvestmentsMember 2020-06-30 0001300699 us-gaap:FairValueInputsLevel1Member us-gaap:AvailableforsaleSecuritiesMember us-gaap:ShortTermInvestmentsMember 2020-06-30 0001300699 us-gaap:FairValueInputsLevel1Member 2020-06-30 0001300699 us-gaap:FairValueInputsLevel2Member 2020-06-30 0001300699 us-gaap:CashAndCashEquivalentsMember us-gaap:MoneyMarketFundsMember 2019-12-31 0001300699 us-gaap:FairValueInputsLevel1Member us-gaap:CashAndCashEquivalentsMember us-gaap:MoneyMarketFundsMember 2019-12-31 0001300699 us-gaap:CashAndCashEquivalentsMember us-gaap:CertificatesOfDepositMember 2019-12-31 0001300699 us-gaap:FairValueInputsLevel2Member us-gaap:CashAndCashEquivalentsMember us-gaap:CertificatesOfDepositMember 2019-12-31 0001300699 us-gaap:CashAndCashEquivalentsMember us-gaap:CommercialPaperMember 2019-12-31 0001300699 us-gaap:FairValueInputsLevel2Member us-gaap:CashAndCashEquivalentsMember us-gaap:CommercialPaperMember 2019-12-31 0001300699 us-gaap:ShortTermInvestmentsMember us-gaap:CertificatesOfDepositMember 2019-12-31 0001300699 us-gaap:FairValueInputsLevel2Member us-gaap:ShortTermInvestmentsMember us-gaap:CertificatesOfDepositMember 2019-12-31 0001300699 us-gaap:ShortTermInvestmentsMember us-gaap:CommercialPaperMember 2019-12-31 0001300699 us-gaap:FairValueInputsLevel2Member us-gaap:ShortTermInvestmentsMember us-gaap:CommercialPaperMember 2019-12-31 0001300699 us-gaap:ShortTermInvestmentsMember us-gaap:AvailableforsaleSecuritiesMember 2019-12-31 0001300699 us-gaap:FairValueInputsLevel1Member us-gaap:ShortTermInvestmentsMember us-gaap:AvailableforsaleSecuritiesMember 2019-12-31 0001300699 us-gaap:FairValueInputsLevel1Member 2019-12-31 0001300699 us-gaap:FairValueInputsLevel2Member 2019-12-31 0001300699 atnx:PharmaEssentiaMember us-gaap:OverTheCounterMember country:TW us-gaap:FairValueInputsLevel1Member 2020-06-30 0001300699 atnx:PharmaEssentiaMember us-gaap:OverTheCounterMember country:TW us-gaap:FairValueInputsLevel1Member 2019-12-31 0001300699 atnx:CIDALLimitedMember us-gaap:CommonStockMember 2019-06-27 0001300699 atnx:CIDALLimitedMember 2019-06-27 0001300699 atnx:CIDALLimitedMember 2019-06-26 2019-06-27 0001300699 atnx:CIDALLimitedMember srt:MaximumMember 2019-06-27 0001300699 atnx:CIDALLimitedMember atnx:OncologyInnovationPlatformMember 2020-04-01 2020-06-30 0001300699 atnx:CIDALLimitedMember atnx:OncologyInnovationPlatformMember 2020-01-01 2020-06-30 atnx:Milestone 0001300699 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember atnx:DunkirkMember us-gaap:ManufacturingFacilityMember 2020-06-30 0001300699 us-gaap:DomesticCountryMember 2020-01-01 2020-06-30 0001300699 us-gaap:ForeignCountryMember 2020-01-01 2020-06-30 0001300699 us-gaap:LicensingAgreementsMember 2020-06-30 0001300699 atnx:ChongqingMaliuRiversideDevelopmentAndInvestmentCoLTDMember 2020-06-30 0001300699 atnx:ChongqingMaliuRiversideDevelopmentAndInvestmentCoLTDMember 2019-12-31 0001300699 atnx:SeniorSecuredLoanMember 2020-06-30 0001300699 atnx:SeniorSecuredLoanMember 2019-12-31 0001300699 atnx:SeniorSecuredLoanMember 2020-06-30 0001300699 atnx:SeniorSecuredLoanMember 2019-12-31 0001300699 us-gaap:NotesPayableToBanksMember country:CN 2019-03-31 0001300699 us-gaap:NotesPayableToBanksMember country:CN 2019-01-01 2019-03-31 iso4217:CNY 0001300699 atnx:ChongqingMaliuRiversideDevelopmentAndInvestmentCoLTDMember country:CN 2019-06-30 0001300699 atnx:ChongqingMaliuRiversideDevelopmentAndInvestmentCoLTDMember country:CN 2020-06-30 0001300699 atnx:ChongqingMaliuRiversideDevelopmentAndInvestmentCoLTDMember 2019-04-01 2019-06-30 0001300699 atnx:ChongqingMaliuRiversideDevelopmentAndInvestmentCoLTDMember 2020-01-01 2020-06-30 0001300699 atnx:SeniorSecuredLoanMember 2020-06-18 2020-06-19 0001300699 atnx:SeniorSecuredLoanMember 2020-06-19 0001300699 atnx:SeniorCreditAgreementMember atnx:TrancheAMember 2020-06-30 0001300699 atnx:SeniorCreditAgreementMember atnx:TrancheBMember 2020-06-19 0001300699 atnx:SeniorCreditAgreementMember atnx:TrancheCMember 2020-06-19 0001300699 atnx:SeniorCreditAgreementMember atnx:TrancheDMember 2020-06-19 0001300699 atnx:SeniorCreditAgreementMember atnx:TrancheEMember 2020-06-19 0001300699 atnx:SeniorCreditAgreementMember srt:ScenarioForecastMember 2020-09-17 2020-09-17 0001300699 srt:MinimumMember atnx:SeniorCreditAgreementMember 2020-06-18 2020-06-19 0001300699 srt:MaximumMember atnx:SeniorCreditAgreementMember 2020-06-18 2020-06-19 atnx:Agreement 0001300699 atnx:AvalonBioMedicalMember atnx:InLicensingAgreementMember 2018-06-01 2018-06-30 0001300699 atnx:AvalonBioMedicalMember atnx:InLicensingAgreementMember 2020-01-01 2020-06-30 0001300699 atnx:AvalonBioMedicalMember atnx:InLicensingAgreementMember 2019-01-01 2019-06-30 0001300699 atnx:AvalonBioMedicalMember us-gaap:ResearchAndDevelopmentExpenseMember atnx:InLicensingAgreementMember 2019-01-01 2019-12-31 0001300699 atnx:AvalonBioMedicalMember 2020-06-30 0001300699 atnx:AvalonBioMedicalMember 2019-12-31 0001300699 atnx:AvalonBioMedicalMember 2020-01-01 2020-06-30 0001300699 atnx:AvalonBioMedicalMember 2019-01-01 2019-12-31 0001300699 atnx:AvalonBioMedicalMember atnx:NuwagenLimitedMember 2019-06-30 0001300699 atnx:NuwagenLimitedMember 2019-06-01 2019-06-30 atnx:Executive 0001300699 srt:ExecutiveOfficerMember 2020-04-01 2020-06-30 0001300699 atnx:ZenRxMember atnx:ClinicalDevelopmentServicesMember 2020-04-01 2020-06-30 0001300699 atnx:ZenRxMember atnx:ClinicalDevelopmentServicesMember 2019-04-01 2019-06-30 0001300699 atnx:ZenRxMember atnx:ClinicalDevelopmentServicesMember 2020-01-01 2020-06-30 0001300699 atnx:ZenRxMember atnx:ClinicalDevelopmentServicesMember 2019-01-01 2019-06-30 0001300699 atnx:ZenRxMember 2020-04-01 2020-06-30 0001300699 atnx:ZenRxMember 2019-04-01 2019-06-30 0001300699 atnx:ZenRxMember 2020-01-01 2020-06-30 0001300699 atnx:ZenRxMember 2019-01-01 2019-06-30 0001300699 atnx:TwoThousandFourAndTwoThousandSevenAndTwoThousandThirteenAndTwoThousandSeventeenCommonStockOptionPlansMember srt:MaximumMember 2020-06-30 0001300699 atnx:TwoThousandSeventeenOmnibusIncentivePlanMember srt:MaximumMember 2019-05-22 2019-05-23 0001300699 srt:MaximumMember us-gaap:EmployeeStockMember 2017-06-14 0001300699 us-gaap:EmployeeStockOptionMember 2020-04-01 2020-06-30 0001300699 us-gaap:EmployeeStockOptionMember 2019-04-01 2019-06-30 0001300699 us-gaap:EmployeeStockOptionMember 2020-01-01 2020-06-30 0001300699 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-06-30 0001300699 us-gaap:EmployeeStockOptionMember 2020-06-30 0001300699 atnx:TwoThousandSeventeenOmnibusIncentivePlanAndTwoThousandSeventeenEmployeeStockPurchasePlanMember us-gaap:EmployeeStockMember 2020-01-01 2020-06-30 0001300699 atnx:TwoThousandSeventeenOmnibusIncentivePlanAndTwoThousandSeventeenEmployeeStockPurchasePlanMember us-gaap:EmployeeStockMember 2020-06-30 0001300699 atnx:TwoThousandSeventeenOmnibusIncentivePlanAndTwoThousandSeventeenEmployeeStockPurchasePlanMember us-gaap:EmployeeStockMember 2019-01-01 2019-06-30 0001300699 atnx:TwoThousandSeventeenOmnibusIncentivePlanAndTwoThousandSeventeenEmployeeStockPurchasePlanMember us-gaap:EmployeeStockMember 2020-04-01 2020-06-30 0001300699 atnx:TwoThousandSeventeenOmnibusIncentivePlanAndTwoThousandSeventeenEmployeeStockPurchasePlanMember us-gaap:EmployeeStockMember 2019-04-01 2019-06-30 0001300699 us-gaap:RestrictedStockMember 2020-01-01 2020-06-30 0001300699 us-gaap:RestrictedStockMember 2019-01-01 2019-12-31 0001300699 us-gaap:RestrictedStockMember 2020-04-01 2020-06-30 0001300699 us-gaap:RestrictedStockMember 2019-04-01 2019-06-30 0001300699 us-gaap:RestrictedStockMember 2019-01-01 2019-06-30 0001300699 us-gaap:RestrictedStockMember 2020-06-30 0001300699 atnx:StockGrantsToOfficersAndEmployeesMember 2019-04-01 2019-06-30 0001300699 atnx:StockGrantsToOfficersAndEmployeesMember 2019-01-01 2019-06-30 0001300699 atnx:EmployeeStockPurchasePlanMember 2020-04-01 2020-06-30 0001300699 atnx:EmployeeStockPurchasePlanMember 2019-04-01 2019-06-30 0001300699 atnx:EmployeeStockPurchasePlanMember 2020-01-01 2020-06-30 0001300699 atnx:EmployeeStockPurchasePlanMember 2019-01-01 2019-06-30 0001300699 us-gaap:CostOfSalesMember 2020-04-01 2020-06-30 0001300699 us-gaap:CostOfSalesMember 2019-04-01 2019-06-30 0001300699 us-gaap:CostOfSalesMember 2020-01-01 2020-06-30 0001300699 us-gaap:CostOfSalesMember 2019-01-01 2019-06-30 0001300699 us-gaap:ResearchAndDevelopmentExpenseMember 2020-04-01 2020-06-30 0001300699 us-gaap:ResearchAndDevelopmentExpenseMember 2019-04-01 2019-06-30 0001300699 us-gaap:ResearchAndDevelopmentExpenseMember 2020-01-01 2020-06-30 0001300699 us-gaap:ResearchAndDevelopmentExpenseMember 2019-01-01 2019-06-30 0001300699 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2020-04-01 2020-06-30 0001300699 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-04-01 2019-06-30 0001300699 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2020-01-01 2020-06-30 0001300699 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-01-01 2019-06-30 0001300699 us-gaap:StockCompensationPlanMember 2020-04-01 2020-06-30 0001300699 us-gaap:StockCompensationPlanMember 2019-04-01 2019-06-30 0001300699 us-gaap:StockCompensationPlanMember 2020-01-01 2020-06-30 0001300699 us-gaap:StockCompensationPlanMember 2019-01-01 2019-06-30 0001300699 atnx:UnvestedRestrictedCommonSharesMember 2020-04-01 2020-06-30 0001300699 atnx:UnvestedRestrictedCommonSharesMember 2020-01-01 2020-06-30 atnx:Segment 0001300699 atnx:SegmentsDerivingRevenueMember 2020-01-01 2020-06-30 utr:sqft 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:OperatingSegmentsMember 2020-04-01 2020-06-30 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:OperatingSegmentsMember 2019-04-01 2019-06-30 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:OperatingSegmentsMember 2020-01-01 2020-06-30 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:OperatingSegmentsMember 2020-04-01 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:OperatingSegmentsMember 2019-04-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:OperatingSegmentsMember 2020-01-01 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:OperatingSegmentsMember 2020-04-01 2020-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:OperatingSegmentsMember 2019-04-01 2019-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:OperatingSegmentsMember 2020-01-01 2020-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-06-30 0001300699 us-gaap:OperatingSegmentsMember 2020-04-01 2020-06-30 0001300699 us-gaap:OperatingSegmentsMember 2019-04-01 2019-06-30 0001300699 us-gaap:OperatingSegmentsMember 2020-01-01 2020-06-30 0001300699 us-gaap:OperatingSegmentsMember 2019-01-01 2019-06-30 0001300699 us-gaap:IntersegmentEliminationMember 2020-04-01 2020-06-30 0001300699 us-gaap:IntersegmentEliminationMember 2019-04-01 2019-06-30 0001300699 us-gaap:IntersegmentEliminationMember 2020-01-01 2020-06-30 0001300699 us-gaap:IntersegmentEliminationMember 2019-01-01 2019-06-30 0001300699 us-gaap:LicenseMember 2020-01-01 2020-06-30 0001300699 atnx:CommercialProductSalesMember 2020-04-01 2020-06-30 0001300699 atnx:CommercialProductSalesMember 2019-04-01 2019-06-30 0001300699 atnx:CommercialProductSalesMember 2020-01-01 2020-06-30 0001300699 atnx:CommercialProductSalesMember 2019-01-01 2019-06-30 0001300699 atnx:ActivePharmaceuticalIngredientSalesMember 2020-04-01 2020-06-30 0001300699 atnx:ActivePharmaceuticalIngredientSalesMember 2019-04-01 2019-06-30 0001300699 atnx:ActivePharmaceuticalIngredientSalesMember 2020-01-01 2020-06-30 0001300699 atnx:ActivePharmaceuticalIngredientSalesMember 2019-01-01 2019-06-30 0001300699 atnx:ContractManufacturingRevenueMember 2020-04-01 2020-06-30 0001300699 atnx:ContractManufacturingRevenueMember 2019-04-01 2019-06-30 0001300699 atnx:ContractManufacturingRevenueMember 2020-01-01 2020-06-30 0001300699 atnx:ContractManufacturingRevenueMember 2019-01-01 2019-06-30 0001300699 us-gaap:ProductAndServiceOtherMember 2020-04-01 2020-06-30 0001300699 us-gaap:ProductAndServiceOtherMember 2019-04-01 2019-06-30 0001300699 us-gaap:ProductAndServiceOtherMember 2020-01-01 2020-06-30 0001300699 us-gaap:ProductAndServiceOtherMember 2019-01-01 2019-06-30 0001300699 atnx:OncologyInnovationPlatformMember 2020-04-01 2020-06-30 0001300699 atnx:OncologyInnovationPlatformMember 2019-04-01 2019-06-30 0001300699 atnx:OncologyInnovationPlatformMember 2020-01-01 2020-06-30 0001300699 atnx:OncologyInnovationPlatformMember 2019-01-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember 2020-04-01 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember 2019-04-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember 2020-01-01 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember 2019-01-01 2019-06-30 0001300699 atnx:CommercialPlatformMember 2020-04-01 2020-06-30 0001300699 atnx:CommercialPlatformMember 2019-04-01 2019-06-30 0001300699 atnx:CommercialPlatformMember 2020-01-01 2020-06-30 0001300699 atnx:CommercialPlatformMember 2019-01-01 2019-06-30 0001300699 atnx:OncologyInnovationPlatformMember 2020-06-30 0001300699 atnx:OncologyInnovationPlatformMember 2019-12-31 0001300699 atnx:GlobalSupplyChainPlatformMember 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember 2019-12-31 0001300699 atnx:CommercialPlatformMember 2020-06-30 0001300699 atnx:CommercialPlatformMember 2019-12-31 0001300699 country:US 2020-04-01 2020-06-30 0001300699 country:US 2019-04-01 2019-06-30 0001300699 country:US 2020-01-01 2020-06-30 0001300699 country:US 2019-01-01 2019-06-30 0001300699 country:GB 2020-04-01 2020-06-30 0001300699 country:GB 2020-01-01 2020-06-30 0001300699 country:GB 2019-01-01 2019-06-30 0001300699 currency:KRW 2020-04-01 2020-06-30 0001300699 currency:KRW 2020-01-01 2020-06-30 0001300699 country:CN 2020-04-01 2020-06-30 0001300699 country:CN 2019-04-01 2019-06-30 0001300699 country:CN 2020-01-01 2020-06-30 0001300699 country:CN 2019-01-01 2019-06-30 0001300699 country:AT 2020-04-01 2020-06-30 0001300699 country:AT 2019-04-01 2019-06-30 0001300699 country:AT 2020-01-01 2020-06-30 0001300699 country:AT 2019-01-01 2019-06-30 0001300699 country:IN 2019-04-01 2019-06-30 0001300699 country:IN 2019-01-01 2019-06-30 0001300699 us-gaap:NonUsMember 2020-04-01 2020-06-30 0001300699 us-gaap:NonUsMember 2019-04-01 2019-06-30 0001300699 us-gaap:NonUsMember 2020-01-01 2020-06-30 0001300699 us-gaap:NonUsMember 2019-01-01 2019-06-30 0001300699 country:US 2020-06-30 0001300699 country:US 2019-12-31 0001300699 country:CN 2020-06-30 0001300699 country:CN 2019-12-31 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerAMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-04-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerAMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-04-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerAMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerAMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerBMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-04-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerBMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-04-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerBMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerBMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerCMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-04-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerCMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-04-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerCMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerCMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerDMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-04-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerDMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-04-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerDMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerDMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerEMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-04-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerEMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-04-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerEMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember atnx:CustomerEMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerAMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerAMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-12-31 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerBMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerBMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-12-31 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerCMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerCMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-12-31 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerDMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerDMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-12-31 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerEMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2020-01-01 2020-06-30 0001300699 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember atnx:CustomerEMember atnx:CommercialPlatformAndGlobalSupplyChainMember 2019-01-01 2019-12-31 0001300699 us-gaap:TransferredAtPointInTimeMember atnx:LicensedIPMember 2020-01-01 2020-06-30 0001300699 us-gaap:TransferredAtPointInTimeMember atnx:LicensedIPMember 2020-04-01 2020-06-30 0001300699 us-gaap:TransferredAtPointInTimeMember atnx:LicensedIPMember 2019-04-01 2019-06-30 0001300699 us-gaap:TransferredAtPointInTimeMember atnx:LicensedIPMember 2019-01-01 2019-06-30 0001300699 country:US us-gaap:TransferredAtPointInTimeMember atnx:GlobalSupplyChainPlatformMember 2020-04-01 2020-06-30 0001300699 country:US us-gaap:TransferredAtPointInTimeMember atnx:CommercialPlatformMember 2020-04-01 2020-06-30 0001300699 country:GB us-gaap:TransferredAtPointInTimeMember atnx:CommercialPlatformMember 2020-04-01 2020-06-30 0001300699 currency:KRW us-gaap:TransferredAtPointInTimeMember atnx:GlobalSupplyChainPlatformMember 2020-04-01 2020-06-30 0001300699 country:CN us-gaap:TransferredAtPointInTimeMember atnx:OncologyInnovationPlatformMember 2020-04-01 2020-06-30 0001300699 country:CN us-gaap:TransferredAtPointInTimeMember atnx:GlobalSupplyChainPlatformMember 2020-04-01 2020-06-30 0001300699 atnx:OtherForeignCountriesIncludingAustriaMember us-gaap:TransferredAtPointInTimeMember atnx:GlobalSupplyChainPlatformMember 2020-04-01 2020-06-30 0001300699 atnx:OtherForeignCountriesIncludingAustriaMember 2020-04-01 2020-06-30 0001300699 us-gaap:TransferredAtPointInTimeMember atnx:OncologyInnovationPlatformMember 2020-04-01 2020-06-30 0001300699 us-gaap:TransferredAtPointInTimeMember atnx:GlobalSupplyChainPlatformMember 2020-04-01 2020-06-30 0001300699 us-gaap:TransferredAtPointInTimeMember atnx:CommercialPlatformMember 2020-04-01 2020-06-30 0001300699 country:US atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 country:US atnx:CommercialPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 country:IN atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 country:AT atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 country:CN atnx:OncologyInnovationPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 country:CN atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 us-gaap:NonUsMember atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember country:US 2020-01-01 2020-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:TransferredAtPointInTimeMember country:US 2020-01-01 2020-06-30 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:TransferredAtPointInTimeMember country:CN 2020-01-01 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember country:CN 2020-01-01 2020-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:TransferredAtPointInTimeMember country:GB 2020-01-01 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember currency:KRW 2020-01-01 2020-06-30 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:TransferredAtPointInTimeMember atnx:OtherForeignCountriesIncludingAustriaMember 2020-01-01 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember atnx:OtherForeignCountriesIncludingAustriaMember 2020-01-01 2020-06-30 0001300699 atnx:OtherForeignCountriesIncludingAustriaMember 2020-01-01 2020-06-30 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember country:US 2019-01-01 2019-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:TransferredAtPointInTimeMember country:US 2019-01-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember country:IN 2019-01-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember country:AT 2019-01-01 2019-06-30 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:TransferredAtPointInTimeMember country:CN 2019-01-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember country:CN 2019-01-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember country:GB 2019-01-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember us-gaap:NonUsMember 2019-01-01 2019-06-30 0001300699 atnx:OncologyInnovationPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-01-01 2019-06-30 0001300699 atnx:GlobalSupplyChainPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-01-01 2019-06-30 0001300699 atnx:CommercialPlatformMember us-gaap:TransferredAtPointInTimeMember 2019-01-01 2019-06-30 0001300699 atnx:TwoThousandNineteenXiangxueLicenseArrangementMember 2020-06-30 0001300699 atnx:SagardHealthcareRoyaltyPartnersLPMember atnx:RevenueInterestFinancingAgreementMember us-gaap:SubsequentEventMember 2020-08-04 2020-08-04 0001300699 atnx:SagardHealthcareRoyaltyPartnersLPMember atnx:RevenueInterestFinancingAgreementMember us-gaap:SubsequentEventMember 2020-08-04 0001300699 atnx:SagardHealthcareRoyaltyPartnersLPMember atnx:RevenueInterestFinancingAgreementMember srt:ScenarioForecastMember 2024-09-30 0001300699 atnx:SagardHealthcareRoyaltyPartnersLPMember atnx:RevenueInterestFinancingAgreementMember srt:ScenarioForecastMember 2026-08-04 0001300699 atnx:RevenueInterestFinancingAgreementMember us-gaap:SubsequentEventMember atnx:SagardHealthcareRoyaltyPartnersLPMember atnx:PaymentsAtRepurchasePriceOnOrBeforeAugustFourTwentyTwentyThreeMember 2020-08-04 0001300699 atnx:RevenueInterestFinancingAgreementMember us-gaap:SubsequentEventMember atnx:SagardHealthcareRoyaltyPartnersLPMember atnx:PaymentsAtRepurchasePriceAfterAugustFourTwentyTwentyThreeAndOnOrBeforeAugustFourTwentyTwentyFourMember 2020-08-04 0001300699 atnx:RevenueInterestFinancingAgreementMember us-gaap:SubsequentEventMember atnx:SagardHealthcareRoyaltyPartnersLPMember atnx:PaymentsAtRepurchasePriceAfterAugustFourTwentyTwentyFourAndOnOrBeforeAugustFourTwentyTwentyFiveMember 2020-08-04 0001300699 atnx:RevenueInterestFinancingAgreementMember us-gaap:SubsequentEventMember atnx:SagardHealthcareRoyaltyPartnersLPMember atnx:PaymentsAtRepurchasePriceAfterAugustFourTwentyTwentyFiveMember 2020-08-04 0001300699 atnx:RevenueInterestFinancingAgreementMember atnx:SagardHealthcareRoyaltyPartnersLPMember srt:MaximumMember atnx:OncologyInnovationPlatformMember us-gaap:SubsequentEventMember 2020-08-04 2020-08-04 0001300699 us-gaap:SubsequentEventMember atnx:SagardAndIMCOInvestorsMember atnx:SeniorCreditAgreementMember 2020-08-04 0001300699 us-gaap:SubsequentEventMember atnx:SagardAndIMCOInvestorsMember 2020-08-04

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to             

Commission File Number: 001-38112

 

ATHENEX, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware

43-1985966

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer
Identification No.)

 

 

1001 Main Street, Suite 600

Buffalo, NY

14203

(Address of principal executive offices)

(Zip Code)

 

(716) 427-2950

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Exchange Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, par value $0.001 per share

 

ATNX

 

The Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 

 

Large accelerated filer

 

  

Accelerated filer

 

 

 

 

 

 

 

 

Non-accelerated filer

 

 

  

Small reporting company

 

 

 

 

 

 

 

 

Emerging growth company

 

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  

 

As of July 31, 2020, the registrant had 81,725,534 shares of common stock, $0.001 par value per share, outstanding.

 

 

 

 


 

Table of Contents

 

 

 

 

 

Page

PART I.

 

FINANCIAL INFORMATION

 

1

Item 1.

 

Financial Statements

 

1

 

 

Condensed Consolidated Balance Sheets (Unaudited)

 

1

 

 

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

 

2

 

 

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)

 

3

 

 

Condensed Consolidated Statements of Cash Flows (Unaudited)

 

4

 

 

Notes to Condensed Consolidated Financial Statements (Unaudited)

 

5

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

26

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk

 

40

Item 4.

 

Controls and Procedures

 

41

PART II.

 

OTHER INFORMATION

 

42

Item 1.

 

Legal Proceedings

 

42

Item 1A.

 

Risk Factors

 

42

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds

 

47

Item 3.

 

Defaults Upon Senior Securities

 

47

Item 4.

 

Mine Safety Disclosures

 

47

Item 5.

 

Other Information

 

47

Item 6.

 

Exhibits

 

48

Signatures

 

49

 

 

 

i


 

PART I—FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements.

ATHENEX, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(unaudited)

(In thousands, except share and per share data)

 

 

 

June 30,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

105,901

 

 

$

127,674

 

Restricted cash

 

 

11,000

 

 

 

 

Short-term investments

 

 

10,414

 

 

 

33,139

 

Accounts receivable, net of chargebacks and other deductions of $12,769

   and $14,394, respectively, and provision for credit losses

   of $163 and $124, respectively

 

 

38,620

 

 

 

16,689

 

Inventories

 

 

31,143

 

 

 

32,630

 

Prepaid expenses and other current assets

 

 

19,528

 

 

 

20,794

 

Total current assets

 

 

216,606

 

 

 

230,926

 

Property and equipment, net

 

 

26,867

 

 

 

23,153

 

Goodwill

 

 

38,496

 

 

 

38,513

 

Intangible assets, net

 

 

8,015

 

 

 

8,522

 

Operating lease right-of-use assets, net

 

 

7,846

 

 

 

8,818

 

Other assets

 

 

222

 

 

 

 

Total assets

 

$

298,052

 

 

$

309,932

 

Liabilities and stockholders' equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

15,945

 

 

$

23,331

 

Accrued expenses

 

 

47,144

 

 

 

44,307

 

Current portion of operating lease liabilities

 

 

2,713

 

 

 

3,010

 

Current portion of long-term debt

 

 

1,107

 

 

 

880

 

Total current liabilities

 

 

66,909

 

 

 

71,528

 

Long-term liabilities:

 

 

 

 

 

 

 

 

Long-term operating lease liabilities

 

 

6,850

 

 

 

7,620

 

Long-term debt and finance lease obligations

 

 

95,389

 

 

 

52,366

 

Deferred tax liabilities

 

 

51

 

 

 

 

Other long-term liabilities

 

 

2,607

 

 

 

2,563

 

Total liabilities

 

 

171,806

 

 

 

134,077

 

Commitments and contingencies (See Note 16)

 

 

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

 

 

Common stock, par value $0.001 per share, 250,000,000 shares authorized at

   June 30, 2020 and December 31, 2019; 83,362,454 and 83,231,063 shares

   issued at June 30, 2020 and December 31, 2019, respectively; 81,689,534

   and 81,558,143 shares outstanding at June 30, 2020 and

   December 31, 2019, respectively

 

 

83

 

 

 

83

 

Additional paid-in capital

 

 

775,042

 

 

 

763,648

 

Accumulated other comprehensive loss

 

 

(1,067

)

 

 

(635

)

Accumulated deficit

 

 

(627,345

)

 

 

(567,465

)

Less: treasury stock, at cost; 1,672,920 shares at June 30, 2020 and

   December 31, 2019

 

 

(7,406

)

 

 

(7,406

)

Total Athenex, Inc. stockholders' equity

 

 

139,307

 

 

 

188,225

 

Non-controlling interests

 

 

(13,061

)

 

 

(12,370

)

Total stockholders' equity

 

 

126,246

 

 

 

175,855

 

Total liabilities and stockholders' equity

 

$

298,052

 

 

$

309,932

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

1


 

ATHENEX, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations and Comprehensive Loss

(unaudited)

(In thousands, except share and per share data)

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product sales, net

 

$

40,167

 

 

$

22,033

 

 

$

58,714

 

 

$

47,196

 

License and other revenue

 

 

5

 

 

 

164

 

 

 

28,393

 

 

 

308

 

Total revenue

 

 

40,172

 

 

 

22,197

 

 

 

87,107

 

 

 

47,504

 

Cost of sales

 

 

33,006

 

 

 

16,942

 

 

 

52,578

 

 

 

36,844

 

Gross Profit

 

 

7,166

 

 

 

5,255

 

 

 

34,529

 

 

 

10,660

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development expenses

 

 

22,015

 

 

 

18,507

 

 

 

39,207

 

 

 

42,982

 

Selling, general, and administrative expenses

 

 

17,486

 

 

 

17,169

 

 

 

43,234

 

 

 

32,357

 

Total operating expenses

 

 

39,501

 

 

 

35,676

 

 

 

82,441

 

 

 

75,339

 

Operating loss

 

 

(32,335

)

 

 

(30,421

)

 

 

(47,912

)

 

 

(64,679

)

Interest income

 

 

185

 

 

 

475

 

 

 

598

 

 

 

758

 

Interest expense

 

 

1,565

 

 

 

1,754

 

 

 

3,238

 

 

 

3,509

 

Loss on extinguishment of debt

 

 

7,230

 

 

 

 

 

 

7,230

 

 

 

 

Loss before income tax expense

 

 

(40,945

)

 

 

(31,700

)

 

 

(57,782

)

 

 

(67,430

)

Income tax expense

 

 

106

 

 

 

405

 

 

 

2,987

 

 

 

905

 

Net loss

 

 

(41,051

)

 

 

(32,105

)

 

 

(60,769

)

 

 

(68,335

)

Less: net loss attributable to non-controlling interests

 

 

(600

)

 

 

(74

)

 

 

(889

)

 

 

(1,071

)

Net loss attributable to Athenex, Inc.

 

$

(40,451

)

 

$

(32,031

)

 

$

(59,880

)

 

$

(67,264

)

Unrealized gain (loss) on investment, net of income taxes

 

 

117

 

 

 

(83

)

 

 

49

 

 

 

(80

)

Foreign currency translation adjustment, net of income taxes

 

 

(43

)

 

 

(446

)

 

 

(481

)

 

 

622

 

Comprehensive loss

 

$

(40,377

)

 

$

(32,560

)

 

$

(60,312

)

 

$

(66,722

)

Net loss per share attributable to Athenex, Inc. common

   stockholders, basic and diluted (See Note 13)

 

$

(0.50

)

 

$

(0.44

)

 

$

(0.73

)

 

$

(0.96

)

Weighted-average shares used in computing net loss per share

   attributable to Athenex, Inc. common stockholders, basic and

   diluted (See Note 13)

 

 

81,564,441

 

 

 

73,114,392

 

 

 

81,551,995

 

 

 

70,079,771

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

2


 

ATHENEX, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Stockholders’ Equity

(unaudited)

(In thousands, except share data)

 

 

 

Common Stock

 

 

Additional

 

 

 

 

 

 

Accumulated

other

 

 

Treasury Stock

 

 

Total

Athenex,

Inc.

 

 

Non-

 

 

Total

 

 

 

Shares

 

 

Amount

 

 

paid-in

capital

 

 

Accumulated

deficit

 

 

comprehensive

income (loss)

 

 

Shares

 

 

Amount

 

 

stockholders'

equity

 

 

controlling

interests

 

 

stockholders'

equity

 

Balance at January 1, 2019

 

 

68,668,986

 

 

$

69

 

 

$

591,064

 

 

$

(443,716

)

 

$

(656

)

 

 

(1,672,920

)

 

$

(7,406

)

 

$

139,355

 

 

$

(10,586

)

 

$

128,769

 

Stock-based compensation cost

 

 

 

 

 

 

 

 

1,693

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,693

 

 

 

 

 

 

1,693

 

Stock options and warrants exercised

 

 

49,632

 

 

 

 

 

 

278

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

278

 

 

 

 

 

 

278

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(35,233

)

 

 

 

 

 

 

 

 

 

 

 

(35,233

)

 

 

(997

)

 

 

(36,230

)

Other comprehensive income, net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,071

 

 

 

 

 

 

 

 

 

1,071

 

 

 

 

 

 

1,071

 

Balance at March 31, 2019 (unaudited)

 

 

68,718,618

 

 

 

69

 

 

 

593,035

 

 

 

(478,949

)

 

 

415

 

 

 

(1,672,920

)

 

 

(7,406

)

 

 

107,164

 

 

 

(11,583

)

 

 

95,581

 

Sale of common stock, net of costs of $54

 

 

10,033,362

 

 

 

10

 

 

 

100,309

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

100,319

 

 

 

 

 

 

100,319

 

Stock-based compensation cost

 

 

92,723

 

 

 

 

 

 

3,382

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,382

 

 

 

 

 

 

3,382

 

Stock options exercised

 

 

92,442

 

 

 

 

 

 

559

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

559

 

 

 

 

 

 

559

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(32,031

)

 

 

 

 

 

 

 

 

 

 

 

(32,031

)

 

 

(74

)

 

 

(32,105

)

Other comprehensive loss, net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(529

)

 

 

 

 

 

 

 

 

(529

)

 

 

 

 

 

(529

)

Balance at June 30, 2019 (unaudited)

 

 

78,937,145

 

 

$

79

 

 

$

697,285

 

 

$

(510,980

)

 

$

(114

)

 

 

(1,672,920

)

 

$

(7,406

)

 

$

178,864

 

 

$

(11,657

)

 

$

167,207

 

 

 

 

Common Stock

 

 

Additional

 

 

 

 

 

 

Accumulated

other

 

 

Treasury Stock

 

 

Total

Athenex,

Inc.

 

 

Non-

 

 

Total

 

 

 

Shares

 

 

Amount

 

 

paid-in

capital

 

 

Accumulated

deficit

 

 

comprehensive

income (loss)

 

 

Shares

 

 

Amount

 

 

stockholders'

equity

 

 

controlling

interests

 

 

stockholders'

equity

 

Balance at January 1, 2020

 

 

83,231,063

 

 

$

83

 

 

$

763,648

 

 

$

(567,465

)

 

$

(635

)

 

 

(1,672,920

)

 

$

(7,406

)

 

$

188,225

 

 

$

(12,370

)

 

$

175,855

 

Stock-based compensation cost

 

 

 

 

 

 

 

 

1,864

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,864

 

 

 

 

 

 

1,864

 

Restricted stock expense

 

 

(3,000

)

 

 

 

 

 

397