Benzinga | Feb 18, 2021 09:24AM EST

Athenex Launches Klisyri In US For Actinic Keratosis; Expands Tirbanibulin Distribution Pact For Additional Territories

* Athenex Inc (NASDAQ: ATNX) has launched Klisyri (tirbanibulin) in the U.S., led by the Company's partner Almirall. The launch has triggered a milestone payment of up to $65 million.

* Athenex received FDA approval for Klisyri in December 2020 for the topical treatment of actinic keratosis of the face or scalp.

* Also, the Company announced the licensing agreement for additional territories for tirbanibulin to its partner PharmaEssentia Corp.

* Under the expanded agreement, Athenex will receive an upfront payment from PharmaEssentia and be eligible to receive milestone payments associated with achieving certain development and sales milestones. Athenex will also be eligible to receive tiered double-digit royalties on net sales of tirbanibulin in Japan and South Korea.

* Price Action: ATNX stock is up 1.08% at $13.12 in premarket trading on the last check Thursday.