Why Is Athenex (ATNX) Stock Up 44% Today?

  • Athenex (ATNX) stock is climbing higher thanks to clinical trial data.
  • The Phase 2 clinical trial of oral paclitaxel performed well.
  • The company plans to present more data on the results next year.
Brown glass pill bottle on its side showing white pills inside, with other pill bottles behind it representing ATNX stock.

Source: shutterstock.com/Champhei

Athenex (NASDAQ:ATNX) stock is rocketing higher on Tuesday thanks to positive results from a high-risk early-stage breast cancer clinical trial.

The Phase 2 study covers the use of the company’s “oral paclitaxel plus encequidar in combination with a PD-1 inhibitor and carboplatin.” The treatment “was associated with less neuropathy and was not associated with an increase in febrile neutropenia.”

Athenex doesn’t go into incredible detail about the Phase 2 results. However, the company does say it intends to present further data from the trial during “upcoming national meetings.” The company expects these meetings to take place in the second quarter of 2023.

Comments on the ATNX Stock News

Dr. Johnson Lau, CEO of Athenex, said the following about the study results:

“We are very pleased that the Oral Paclitaxel combination regimen graduated from this prestigious program which has brought exciting and innovative treatments to neoadjuvant breast cancer patients. This study confirms our finding of less neuropathy for Oral Paclitaxel compared to intravenous paclitaxel in our metastatic breast cancer study.”

With today’s news comes heavy trading of ATNX stock. As of this writing, more than 111 million shares of the stock have changed hands. That’s a massive surge over the daily average trading volume of about 1.2 million shares.

ATNX stock is up 44.1% as of Tuesday afternoon but down 87.9% since the start of the year.

There’s still plenty more stock market news that traders will want to know about today!

Fortunately, InvestorPlace has them covered with our deep dives into the market for Tuesday! That includes what’s happening with shares of Bed Bath & Beyond (NASDAQ:BBBY), Nio (NYSE:NIO) and Lion Electric (NYSE:LEV). You can check out more at the following links!

More Tuesday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/12/why-is-athenex-atnx-stock-up-44-today/.

©2023 InvestorPlace Media, LLC