Latham & Watkins Advises on Athenex, Inc.’s US$30 Million Public Offering of Common Stock and Warrants

Athenex, Inc. (Nasdaq: ATNX), a global biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies for the treatment of cancer and related conditions, has announced the pricing of its underwritten public offering of 35,333,334 shares of its common stock and accompanying warrants to purchase up to 35,333,334 shares of common stock at a combined public offering price of US$0.75 per share and accompanying warrant and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to 4,666,666 shares of its common stock and accompanying warrants to purchase up to 4,666,666 shares of common stock at a combined public offering price of US$0.749 per share and accompanying warrant. The pre-funded warrants have an exercise price of $0.001 per share, are exercisable immediately, and will expire five years following the date of issuance. The warrants have an exercise price of US$1 per share, are exercisable immediately, and will expire five years following the date of issuance. The gross proceeds to Athenex from the offering, before underwriting discounts and commissions and offering expenses, are expected to be approximately US$30 million. The offering is expected to close on August 15, 2022, subject to customary closing conditions.

Latham & Watkins LLP represents the underwriter in the offering with a corporate deal team led by New York partner Nathan Ajiashvili and Bay Area partners Brian Cuneo and Phillip Stoup, with associates Andrew Blumenthal, MacLane Taggart, and James Sullivan.