Pharma Firm Athenex Declares Bankruptcy and Plans Asset Sell-Off
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Key Entities
- • Athenex Inc.: A clinical-stage biopharmaceutical company focused on oncology. Headquartered in Buffalo, it aimed to develop innovative cancer therapies.
- • U.S. Bankruptcy Court (Chapter 11): A legal mechanism allowing financially struggling firms to reorganize or sell assets while protected from creditor lawsuits.
- • U.S. Food and Drug Administration (FDA): A federal agency regulating food and drug safety. Its approval or rejection of experimental treatments significantly affects biotech fortunes.
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