DCTH acquisition/strategic partnership with ATNX imminent
Athenex allocating proceeds for acquisition.
See the bold part under use of proceeds and delivery of common stock on Jan 29,2018. TIMING IS IMPECCABLE FOR COINCIDENCE
USE OF PROCEEDS
We estimate that our net proceeds from the sale of shares of our common stock in this offering will be approximately $61.2 million, or $70.5 million if the underwriters fully exercise their option to purchase additional shares, after deducting the underwriting discounts and commissions and estimated offering expenses payable by us.
The principal purpose of this offering is to further increase our financial flexibility. We currently expect to use the net proceeds from this offering as follows:
• approximately $30.0 million for clinical development and regulatory activities for clinical products developed from our Orascovery platform;
• approximately $10.0 million for clinical development and regulatory activities for clinical products developed from our Src Kinase Inhibition platform;
• approximately $10.0 million for other clinical and pre-clinical research and development activities; and
• the remainder for working capital, capital expenditures and general corporate purposes.
We may use a portion of the net proceeds of this offering for the acquisition or licensing, as the case may be, of additional technologies, other assets or businesses, or for other strategic investments or opportunities, although we have no definitive understandings, agreements or commitments to do so as of the date hereof.
Delivery of the shares of our common stock is expected to be made on or about January 29, 2018
