Athenex, Inc.

Athenex is now in post-confirmation liquidation, with the liquidating trust reconciling disputed general unsecured claims, withholding or forfeiting distributions for claimants that have not supplied required tax forms, and targeting a final decree by June 20, 2026, according to the Chapter 11 Post-Confirmation ReportDkt. 1151 and the trust’s tax-information distribution noticeDkt. 1152. The operating Chapter 11 phase is over; the remaining work is claims administration, residual distributions, and case closure.

Athenex filed Chapter 11 on May 14, 2023 after a capital-constrained decline in its oncology-focused biopharmaceutical business. The first-day declaration tied the filing to the FDA’s February 2021 refusal to approve Oral Paclitaxel, continuing losses, an accumulated deficit of about $1.0 billion, roughly $30 million of trade payables, and a prepetition Oaktree credit facility that had once provided up to $225 million but had been reduced to $41.875 million outstanding by the petition date. The filing was designed around an expedited asset-sale strategy, with the debtors seeking a 45-day sale process for business segments including the pharmaceutical division, pharma solutions, cell therapy, and Orascovery, as described in the Campbell first-day declarationDkt. 18.

The case then moved quickly from sale process to liquidation plan. Athenex filed a combined disclosure statement and Chapter 11 plan in July 2023, later supplemented the plan materials, and obtained confirmation on September 12, 2023 through the . The plan became effective on September 22, 2023, leaving Athenex Inc. as the sole remaining open case after affiliate cases closed, with administrative and secured recoveries reported as fully paid and general unsecured recoveries still unresolved in the latest post-confirmation report.