Here's Why Athenex Stock Is Sliding Today
Shares of Athenex (NASDAQ: ATNX), a clinical-stage biopharmaceutical company, slid 21.2% in the first hour of trading on Friday. The stock recovered some of that loss as investors digested pivotal trial results that the company released this morning, but it was still down 17.2% as of 12:57 p.m. EST on Friday.
Trouble on Friday the 13th started early this morning for Athenex shareholders. The company's lead candidate, an orally available version of a frequently used chemotherapy called oral paclitaxel, may have hit a roadblock.
Oral paclitaxel provides important benefits over the intravenous version, called IV paclitaxel. Unfortunately, there were some troubling safety signals in the data Athenex released this morning.
Source Fool.com
