Athenex, Inc. (NASDAQ: ATNX) today announced the pricing of a public offering of 10,000,000 shares of its common stock at a public offering price of $11.00 per share. The gross proceeds to Athenex from the offering, before underwriting discounts and commissions and estimated offering expenses, are expected to be $110 million. In addition, Athenex has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on September 14, 2020, subject to customary closing conditions.

Athenex intends to use the net proceeds from the proposed offering to continue to expand and strengthen its commercial infrastructure, execute label expansion strategies for Oral Paclitaxel, advance the development of its product candidates, invest in its CMC development for its product candidates and manufacturing infrastructure, and fund working capital and other general corporate purposes.

SVB Leerink, RBC Capital Markets and Evercore ISI are acting as joint book-running managers and Oppenheimer & Co. is acting as lead manager for the offering.