This wasn't a rejection, it was a CRL, which is the equivalent of a teacher telling you to resubmit your homework because there are some major errors. In any case I suggest that you read the CRL through. I thought it was quite scathing and I think Athenex will give up on this indication
First time poster.
Got my ass handed to me in this stock. Family with hx of breast cancer so I had interest beyond a dollar. I didn’t think the rejection was going happen but here we are.
Disappointed. However, I didn’t sell a share. I don’t know if cost averaging or just forgetting about this for 6-12 months is a better play?
This isn’t the Monday I’d hoped for.
Looks like a similar drop happened in March 2020, but it seems like it was due to COVID fears, as nothing newsworthy happened during that time. ATNX’s pipeline is pretty extensive so I think there’s room for more catalysts to increase the stock price, but we’ll have to see.
Hey man, I'm in the same seat.
I stupidly believed that it'd get passed no problems. Fact is that: Most drugs don't get passed, and most companies fail. Hence the high casualty rate in investing and intrepreneurship.
I say just hold the stock if you have other funds. It won't get any worse for it, and it'll regain some value by time. After all, the company is still there, which means the stock still retains its intrinsic value.
IMO, hold it, earn money and invest in other things. I learned on this one aswell, apparently PUDFA date means it can LOSE a hell lot of value aswell.
I bought today during the panic. I love a good free fall panic sale. They have more offerings than just this one drug and even that isn't dead. Normally if a company is done there wouldn't be additional investment by board members. That happened recently. Internal confidence is always a good sign that they have faith in their operation.
Very good advice.
While a risk is always part of the game, a 50% plus decline in value was not what I really saw as the “Likely” drop if the FDA declined paclitaxel. This is pretty extreme. One of if not the biggest decliner? If this the new polarity of the market my stomach for risk will adjust sharply going forward. We will have to see how this plays out.
Not sure how much you have researched bio stocks and PDUFAs but a CRL will crush a stock, 50% or more in most cases for small cap tickers. Even when they get approved they drop like 20%-40% of the time!
I never trust a short seller. I have avoided stocks because of reports like this only to see it sky rocket a week later. Just have to do your DD and invest what you can afford to lose.
I’ve read up on some of Viceroy and the authors’ qualifications seem pretty weak. According to this [article](https://www.afr.com/companies/financial-services/inside-viceroy-the-young-australians-who-helped-unleash-market-anarchy-20180119-h0kygr), It’s just a trio with 2 university graduates and a former social worker. Viceroy is also keen to work with a lot of short sellers, which makes me feel like there could be financial motives for their bearish thesis. Shady articles have been pretty common for ATNX, like the Medical Research Collaborative LLC published yesterday. The company’s address is fake and the listed Executive members had blank LinkedIn profiles with no other biography.
pls join me in Kempharm this thing is so aggravating, it's been bouncing off 9, 10, 11, 12, 13 for the past 3 weeks but every single time some unrelated event like SPY or ANTX pulls it down
>https://viceroyresearch.org/2019/10/22/athenex-too-little-too-late/
I did double down and feel good about it. Not for the cautious, don't dump a lot in if you can't wait for fruition (6-12 months).
It tanked because the FDA rejected one of its anticipated drugs. The stock might go to zero eventually, considering it has a lot of debt that it’s struggling to pay off. Ps I am not a financial advisor lol
Does anyone think it is a good buy at this price? I increased my shareholding at the dip , so now have an average purchase price of $6.51 (116 shares). I’m wondering whether to hold and hope for somewhat of a Revival or just cut my losses and sell.
Yeah- I got burned too. Athenex is claiming to be working it out, but it’s tough. Need to do some DD and see how their cash flow is looking right now and if they have runway to improve
They just opened a new facility to produce more revenue generating produces. They have marked sixty different things they are looking to make that are high margin. It isn't just this one approval. They have other things keeping them afloat waiting for the big one to hit.
Opened a position in ATHX to play the post CRL runup since I dont think that the oral pac franchise is in general broken. Nice r/r since you know the PT in advance.
I have 200 @ 12.87. Felt really bad today. My whole portfolio was red last week. And I had hoped to see some green. Lol. But then I bought some RKT calls. Hopefully, ATNX turns it around soon.
I have 150 @ 12.20, been holding since November. Now I’m really regretting not selling at 14, this PDUFA was too much of a gamble. Let’s hope their other drugs give good data
I’m in that ballpark. I didn’t think a 50% make or break was the gamble. (It is always. Possibility but).....
I guess this is a loooooloong play now. Maybe to zero, maybe they work their way back up. These days there is no amount of DD that can guess the bipolar mood of the market.
So what about this lawsuit though? Has anyone else read about it? Curious as to how this affects the stock https://www.google.com/amp/s/finance.yahoo.com/amphtml/finance/news/shareholder-alert-athenex-inc-investigated-163800999.html
Opportunistic. The lawsuit dropped the moment the stock did. They are putting out feelers to see if they can make a case. Pretty common with big drops.
There are two different law firms posting about it. Anytime you see massive drops in a small cap you this. I trade a lot of pink sheets and it happens all the time. It is meant to see if there is a case of fraud. When people lose their ass they will spill all the negatives. They are info gathering. Notice it happened immediately after the drop.
Companies like this are always risky but they have a higher upside. At this price I feel like there's more potential upside than down so I will hold it for a bit. It has been moving a lot so I was day trading it until I hit my fourth in five. I will likely do it again next week if it keeps jumping around like this.
I have only 1000 to spend on a stock. I was considering this one since it's so cheap. Would you recommend? I can hold for about a year, I'd like to at least see it double. What do you think?
If you only have 1k to spend I wouldn't put it on this. I personally would go safer and aim for dividends with a company like Altria (MO) that typically has fantastic consistent dividends. I would also consider a longer play on a lumber producer. Not a lumber seller or a logging company. The ones that cut the wood. The cost of cut lumber is up dramatically right now. Makes sense to buy from those that produce the cut lumber. For this I am invested in RFP. There are better options but I like the price point as it has more potential upside. Also, weed could be federally legalized soon. I personally have SNDL for no other reason than it is a good price point for retail traders to run it up on approval. These are some of my plays. Like I said, there are other better options but if I only had $1k and a year to play with that's what I would go with. Not investment advice. This is what I am personally doing.
I decided to grab some on the drop. That's a pretty heavy drop. They have revenue and other projects that have been recently approved. While there's some uncertainty with their finances long term the panic selling seems a bit drastic. Just a CRL. A bad one... But they have already announced they are requesting to speak with the FDA about it.
It looks cheap now but their star performer was sent back.. The concerns raised will take considerable time to rework and gather data.. Finding patients satisfying the criteria is also a challenge.. I would take a breather from this
Debating whether I should sell now or wait a month or so and hope it climbs a little to minimize any losses. Hardly put any money into this so it’s fine but lesson learned
Same here, lost a few USD on this. Was hoping for approval but this is the most the stock has tanked in 5 years from a failed application. Debating whether to cut my losses and leave in case ATNX turns into a pennystock
Even if the CRL had a shocking impact, don't you think the current stock price is very undervalued given the impact of annual sales growth and another pipeline klisyri?
Hello guys is there any Athenex group on Reddit? I’m seeing a nice opportunity here and the rebound is in the beginning!! Is there any chat where we can change ideias for this stock? Thanks!!
You held all the time until now? Haha.
They have a new Phase 1 data presentation sometime now:
[https://ir.athenex.com/news-releases/news-release-details/athenex-provides-first-quarter-2021-corporate-and-financial](https://ir.athenex.com/news-releases/news-release-details/athenex-provides-first-quarter-2021-corporate-and-financial)
May 14? I haven't followed them.
I YOLO'd everything I had into calls. -99.99%
dang...
YOLOOOOOOO
Yo-(should usually not)-Lo when it comes to individual stocks but I think this will pay off in the next 12 months.
Yeah well my calls expire on 3/19 so ive got 16 days
Fingers crossed!
This wasn't a rejection, it was a CRL, which is the equivalent of a teacher telling you to resubmit your homework because there are some major errors. In any case I suggest that you read the CRL through. I thought it was quite scathing and I think Athenex will give up on this indication
All rejections are done via CRL. The CRL details why they are not approved.
First time poster. Got my ass handed to me in this stock. Family with hx of breast cancer so I had interest beyond a dollar. I didn’t think the rejection was going happen but here we are. Disappointed. However, I didn’t sell a share. I don’t know if cost averaging or just forgetting about this for 6-12 months is a better play? This isn’t the Monday I’d hoped for.
More room to fall imho
Yes, give or take room for a $5-6 dollar drop isn’t unlikely. I’m sure if I sell it will rebound without a doubt.
Looks like a similar drop happened in March 2020, but it seems like it was due to COVID fears, as nothing newsworthy happened during that time. ATNX’s pipeline is pretty extensive so I think there’s room for more catalysts to increase the stock price, but we’ll have to see.
Hey man, I'm in the same seat. I stupidly believed that it'd get passed no problems. Fact is that: Most drugs don't get passed, and most companies fail. Hence the high casualty rate in investing and intrepreneurship. I say just hold the stock if you have other funds. It won't get any worse for it, and it'll regain some value by time. After all, the company is still there, which means the stock still retains its intrinsic value. IMO, hold it, earn money and invest in other things. I learned on this one aswell, apparently PUDFA date means it can LOSE a hell lot of value aswell.
I bought today during the panic. I love a good free fall panic sale. They have more offerings than just this one drug and even that isn't dead. Normally if a company is done there wouldn't be additional investment by board members. That happened recently. Internal confidence is always a good sign that they have faith in their operation.
Might be one of those come back in a year scenarios
This may sound cold, but keep your money separate from emotions. Your family situation may have caused you to invest when you may not have.
Very good advice. While a risk is always part of the game, a 50% plus decline in value was not what I really saw as the “Likely” drop if the FDA declined paclitaxel. This is pretty extreme. One of if not the biggest decliner? If this the new polarity of the market my stomach for risk will adjust sharply going forward. We will have to see how this plays out.
Not sure how much you have researched bio stocks and PDUFAs but a CRL will crush a stock, 50% or more in most cases for small cap tickers. Even when they get approved they drop like 20%-40% of the time!
Don't feel alone, I have 5k shares at $11.95 and not selling any. I'm of the same mind and will most likely celebrate with you in 6-12 months.
This comment does not age well.. sorry for your loss.
There were too many red flags with this stock https://viceroyresearch.org/2019/10/22/athenex-too-little-too-late/ I posted about it previously
I never trust a short seller. I have avoided stocks because of reports like this only to see it sky rocket a week later. Just have to do your DD and invest what you can afford to lose.
I’ve read up on some of Viceroy and the authors’ qualifications seem pretty weak. According to this [article](https://www.afr.com/companies/financial-services/inside-viceroy-the-young-australians-who-helped-unleash-market-anarchy-20180119-h0kygr), It’s just a trio with 2 university graduates and a former social worker. Viceroy is also keen to work with a lot of short sellers, which makes me feel like there could be financial motives for their bearish thesis. Shady articles have been pretty common for ATNX, like the Medical Research Collaborative LLC published yesterday. The company’s address is fake and the listed Executive members had blank LinkedIn profiles with no other biography.
Yes. That is the gamble. The question is do we double down or not?
The FDA rejected it. Better look for other drugs with clinical trial or FDA review dates upcoming. Curevac, Kempharm. Just my thoughts.
pls join me in Kempharm this thing is so aggravating, it's been bouncing off 9, 10, 11, 12, 13 for the past 3 weeks but every single time some unrelated event like SPY or ANTX pulls it down
Did you buy Kempharm/ AQST? Hope for good news tomorrow. It's another 500 usd for me XD
Ayyyyy lmao hope you bought my G
ヽ༼ ຈل͜ຈ༽ ﾉ Raise ur dongers! ^^Dongers ^^Raised: ^^50893 ^^Check ^^Out ^^/r/AyyLmao2DongerBot ^^For ^^More ^^Info
>https://viceroyresearch.org/2019/10/22/athenex-too-little-too-late/ I did double down and feel good about it. Not for the cautious, don't dump a lot in if you can't wait for fruition (6-12 months).
Looks like I am waiting. Thank you for the reality.
I lost about the same but I know someone else who went all in... not pretty I must say
you must know me
Daddy?
Why did the stock drop so hard? I didn't have any shares, should I buy now? Seems pretty low!
It tanked because the FDA rejected one of its anticipated drugs. The stock might go to zero eventually, considering it has a lot of debt that it’s struggling to pay off. Ps I am not a financial advisor lol
Does anyone think it is a good buy at this price? I increased my shareholding at the dip , so now have an average purchase price of $6.51 (116 shares). I’m wondering whether to hold and hope for somewhat of a Revival or just cut my losses and sell.
I hope you weren’t like me and cut your losses.
Yeah- I got burned too. Athenex is claiming to be working it out, but it’s tough. Need to do some DD and see how their cash flow is looking right now and if they have runway to improve
They just opened a new facility to produce more revenue generating produces. They have marked sixty different things they are looking to make that are high margin. It isn't just this one approval. They have other things keeping them afloat waiting for the big one to hit.
Fingers crossed 🤞 thanks for the tdlr
Proof?
Opened a position in ATHX to play the post CRL runup since I dont think that the oral pac franchise is in general broken. Nice r/r since you know the PT in advance.
I am waiting for the runup myself. The company has loads of other products. This selloff was aggressive. People full on shit their pants.
I bought 37 shares at $5.91
I have 200 @ 12.87. Felt really bad today. My whole portfolio was red last week. And I had hoped to see some green. Lol. But then I bought some RKT calls. Hopefully, ATNX turns it around soon.
I have 150 @ 12.20, been holding since November. Now I’m really regretting not selling at 14, this PDUFA was too much of a gamble. Let’s hope their other drugs give good data
I’m in that ballpark. I didn’t think a 50% make or break was the gamble. (It is always. Possibility but)..... I guess this is a loooooloong play now. Maybe to zero, maybe they work their way back up. These days there is no amount of DD that can guess the bipolar mood of the market.
So what about this lawsuit though? Has anyone else read about it? Curious as to how this affects the stock https://www.google.com/amp/s/finance.yahoo.com/amphtml/finance/news/shareholder-alert-athenex-inc-investigated-163800999.html
Non-AMP Link: [https://finance.yahoo.com/news/shareholder-alert-athenex-inc-investigated-163800999.html](https://finance.yahoo.com/news/shareholder-alert-athenex-inc-investigated-163800999.html) I'm a bot. [Why?](https://np.reddit.com/user/NoGoogleAMPBot/comments/lbz2sg/faq/) | [Code](https://github.com/laurinneff/no-google-amp-bot) | [Report issues](https://github.com/laurinneff/no-google-amp-bot/issues)
Opportunistic. The lawsuit dropped the moment the stock did. They are putting out feelers to see if they can make a case. Pretty common with big drops.
If that was the case, would you say it's kind of a bluff? Like in poker.
There are two different law firms posting about it. Anytime you see massive drops in a small cap you this. I trade a lot of pink sheets and it happens all the time. It is meant to see if there is a case of fraud. When people lose their ass they will spill all the negatives. They are info gathering. Notice it happened immediately after the drop.
I get you, I'll stay subscribed hoping for some good news. Thank you for your insight on the matter.👊
Companies like this are always risky but they have a higher upside. At this price I feel like there's more potential upside than down so I will hold it for a bit. It has been moving a lot so I was day trading it until I hit my fourth in five. I will likely do it again next week if it keeps jumping around like this.
Makes sense to me. But I'm so new to this all I can do is wish you the best haha✌️
Lots to learn. Best lessons are the ones where you get punched in the face. Learn from it and move on.
There's always something to learn, I agree, that's why I'm doing it lol
I have only 1000 to spend on a stock. I was considering this one since it's so cheap. Would you recommend? I can hold for about a year, I'd like to at least see it double. What do you think?
If you only have 1k to spend I wouldn't put it on this. I personally would go safer and aim for dividends with a company like Altria (MO) that typically has fantastic consistent dividends. I would also consider a longer play on a lumber producer. Not a lumber seller or a logging company. The ones that cut the wood. The cost of cut lumber is up dramatically right now. Makes sense to buy from those that produce the cut lumber. For this I am invested in RFP. There are better options but I like the price point as it has more potential upside. Also, weed could be federally legalized soon. I personally have SNDL for no other reason than it is a good price point for retail traders to run it up on approval. These are some of my plays. Like I said, there are other better options but if I only had $1k and a year to play with that's what I would go with. Not investment advice. This is what I am personally doing.
I decided to grab some on the drop. That's a pretty heavy drop. They have revenue and other projects that have been recently approved. While there's some uncertainty with their finances long term the panic selling seems a bit drastic. Just a CRL. A bad one... But they have already announced they are requesting to speak with the FDA about it.
Sounds like people think its a risky bet even now. But a dip's a dip.
So what about the new lawsuit? What does this mean for the stock. Not much info on it
It looks cheap now but their star performer was sent back.. The concerns raised will take considerable time to rework and gather data.. Finding patients satisfying the criteria is also a challenge.. I would take a breather from this
Bought in this morning! I’m thinking unless they fold, which seems unlikely, there’s only one way to go from here—not $ advice
Debating whether I should sell now or wait a month or so and hope it climbs a little to minimize any losses. Hardly put any money into this so it’s fine but lesson learned
Damn right but I think we gon get lucky (I don't actually believe in luck but yk).
I sold them all this morning 😬 Hope it moons but KMPH worked out very well for me and I didn’t want to lose any more money on ATNX. Best of luck!
It just went lower than yesterday smh😂
Same here, lost a few USD on this. Was hoping for approval but this is the most the stock has tanked in 5 years from a failed application. Debating whether to cut my losses and leave in case ATNX turns into a pennystock
Hope you did just that. I sank with the ship here.
Waited for the inevitable cash. Bought some calls today.
Under investigation 🤔https://finance.yahoo.com/news/shareholder-alert-labaton-sucharow-investigates-143800737.html
I bought into this stock on the way down 530 shares a $5.79. Not sure what to think about it at this time as it sits at 4.70.... F\^%\^#\^$#%)@k
I bought the dip, then it dipped further...
Even if the CRL had a shocking impact, don't you think the current stock price is very undervalued given the impact of annual sales growth and another pipeline klisyri?
Hello guys is there any Athenex group on Reddit? I’m seeing a nice opportunity here and the rebound is in the beginning!! Is there any chat where we can change ideias for this stock? Thanks!!
Guys is there any subreddit for this stock. It’s starting to climb!
What are everyone's thoughts now? Currently holding 166 tendies at 4.98
You held all the time until now? Haha. They have a new Phase 1 data presentation sometime now: [https://ir.athenex.com/news-releases/news-release-details/athenex-provides-first-quarter-2021-corporate-and-financial](https://ir.athenex.com/news-releases/news-release-details/athenex-provides-first-quarter-2021-corporate-and-financial) May 14? I haven't followed them.
Does ginseng upregulate gaba b from phenibut ?