GlobeNewswire Inc | Mar 23, 2021 01:46PM EDT

March 23, 2021

NEW YORK, March 23, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Athenex, Inc. (Athenex or the Company) (NASDAQ: ATNX) in the United States District Court for the Western District of New York on behalf of those who purchased or acquired the securities of Athenex between August 7, 2019 and February 26, 2021, inclusive (the Class Period). The lawsuit seeks to recover damages for investors under the federal securities laws.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the data included in the Oral Paclitaxel and Encequidar New Drug Application (NDA) presented a safety risk to patients in terms of an increase in neutropenia-related sequalae; (ii) the uncertainty over the results of the primary endpoint of objective response rate (ORR) at week 19 conducted by blinded independent central review (BICR); (iii) the BICR reconciliation and re-read process may have introduced unmeasured bias and influence on the BICR; (iv) Athenexs Phase 3 study that was used to file the NDA was inadequate and not well-conducted in a patient population with metastatic breast cancer representative of the U.S. population, such that the FDA would recommended a new such clinical trial; (v) as a result, it was foreseeable that the FDA would not approve Athenexs NDA in its current form; and (vi) as a result, defendants public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Athenex during the Class Period should contact the Firm prior to the May 3, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.