IMMINENT SHAREHOLDER DEADLINE: Block & Leviton LLP Has Filed a Lawsuit Against Athenex, Inc. for Securities Fraud; Investors Who Lost Money Should Contact the Firm

BOSTON, April 27, 2021 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, reminds investors that it has filed a class action lawsuit on behalf of shareholders against Athenex, Inc. ATNX and certain of its executives for securities fraud. Investors who purchased Athenex shares between August 7, 2019 and February 26, 2021, and who lost money are strongly encouraged to contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockleviton.com, or to visit our website for information on the case. The deadline to seek appointment as lead plaintiff is May 3, 2021.

Before the markets opened on March 1, 2021, Athenex announced that the U.S. Food and Drug Administration (FDA) issued a complete response letter (CRL) for the company's New Drug Application for oral paclitaxel plus encequidar for the treatment of metastatic breast cancer. In the CRL, the FDA cited safety risks to patients and uncertainty over the results of the primary endpoint of the objective response rate (ORR) which might have introduced unmeasured bias and influence on the blinded independent central review. The FDA further recommended that "Athenex conduct a new adequate and well-conducted clinical trial in a patient population with metastatic breast cancer representative of the population in the U.S." The FDA also noted that additional risk mitigation strategies to improve toxicity would be required for this cancer treatment to be approved. On this news, shares of Athenex stock fell approximately 55% in one day.

The lawsuit was filed in the U.S. District Court for the Western District of New York, located at 2 Niagara Square, Buffalo, NY 14202. The case is captioned Gupta v. Athenex, Inc., et al., No. 1:21-cv-00337 (W.D.N.Y.), and has not yet been assigned to a specific judge. The class period is between August 7, 2019 and February 26, 2021, inclusive. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

If you purchased or acquired Athenex shares between August 7, 2019 and February 26, 2021 and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockleviton.com, or visit our website. The deadline to seek appointment as lead plaintiff is May 3, 2021.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets. The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm's lawyers have recovered billions of dollars for its clients.

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CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com 
SOURCE: Block & Leviton LLP
www.blockleviton.com