Athenex announces reverse stock split

Athenex announced that it will effect a 1-for-20 reverse stock split of its issued common stock, effective at 12:01 a.m. Eastern Time on February 15, 2023. Beginning tomorrow, February 15, 2023, the Company’s common stock will trade on a split-adjusted basis. At the Company’s Special Meeting of Stockholders held on November 22, 2022, the Company’s stockholders approved a proposal to authorize a reverse stock split of the Company’s common stock, at a ratio within the range of 1-for-5 to 1-for-20, as determined by the Company’s Board of Directors. The Board of Directors approved a 1-for-20 reverse split ratio, and on February 13, 2023, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation to effect the reverse stock split effective as of February 15, 2023. The Company’s Board of Directors implemented the reverse stock split with the objective of regaining compliance with the $1.00 minimum bid price requirement of The Nasdaq Global Select Market.