After rising 26% over the past five days, Athenex Inc. (ATNX) shares surged a further 70% during yesterday’s after-hours trading as major healthcare names are contending to acquire the company. Athenex is a biopharmaceutical company with a focus on developing novel therapies targeted towards cancer and associated conditions. Its second-quarter numbers last month failed to surpass expectations on both the revenue and bottom line fronts. At $25.8 million, revenue grew 17.7% year-over-year. Its pharmaceutical division presently markets 31 products, and the Pharma Solutions division markets six products. Recently, Athenex has monetized non-core assets, pared down debt, and created a cash runway of $37.1 million at the end of Q2.
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Athenex (NASDAQ:ATNX)
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