Athenex (ATNXQ) 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 07, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	ATNX
Entity Registrant Name	Athenex, Inc.
Entity Central Index Key	1,300,699
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		63,518,329

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 39,217	$ 39,284
Short-term investments	67,259	11,753
Accounts receivable, net of chargebacks, allowance for doubtful accounts, and other deductions of $2,552 and $3,795, respectively	7,845	8,468
Inventories	18,571	16,561
Prepaid expenses and other current assets	7,198	7,692
Total current assets	140,090	83,758
Property and equipment, net	10,368	9,651
Investment	411	328
Goodwill	37,946	37,795
Intangible assets, net	8,276	8,572
Deferred income tax asset	442	121
Other long-term assets		188
Total assets	197,533	140,413
Current liabilities:
Accounts payable	16,150	16,659
Accrued expenses	13,507	25,776
Deferred revenue	5,740	1,202
Current portion of long-term debt - related parties	198	491
Current portion of long-term debt	1,037	1,015
Total current liabilities	36,632	45,143
Long-term liabilities:
Deferred compensation	2,459	2,313
Deferred rent	1,929	1,760
Capital lease obligation	428	475
Total liabilities	41,448	49,691
Commitments and contingencies (Note 12)
Stockholders' equity:
Common stock, par value $0.001 per share, 250,000,000 shares authorized at March 31, 2018 and December 31, 2017; 64,948,849 and 59,894,362 shares issued at March 31, 2018 and December 31, 2017, respectively; 63,275,929 and 58,221,442 shares outstanding at March 31, 2018 and December 31, 2017, respectively	65	60
Additional paid-in capital	495,819	423,805
Accumulated other comprehensive income (loss)	537	(146)
Accumulated deficit	(333,574)	(326,276)
Less: treasury stock, at cost; 1,672,920 shares at March 31, 2018 and December 31, 2017	(7,406)	(7,406)
Total Athenex, Inc. stockholders' equity	155,441	90,037
Non-controlling interests	644	685
Total stockholders' equity	156,085	90,722
Total liabilities and stockholders' equity	$ 197,533	$ 140,413

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) (unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Accounts receivable, chargebacks, allowance for doubtful accounts, and other deductions (in dollars)	$ 2,552	$ 3,795
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	64,948,849	59,894,362
Common Stock, shares outstanding	63,275,929	58,221,442
Treasury stock, shares	1,672,920	1,672,920

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue:
Product sales, net	$ 12,605	$ 3,900
License fees and consulting revenue	25,091	598
Grant revenue	140	83
Total revenue	37,836	4,581
Costs and operating expenses:
Cost of sales	11,326	2,839
Research and development expenses	21,303	26,408
Selling, general, and administrative expenses	13,080	9,799
Total costs and operating expenses	45,709	39,046
Operating loss	(7,873)	(34,465)
Interest (income) expense	(227)	2,376
Loss on derivative liability		4,276
Loss before income tax benefit	(7,646)	(41,117)
Income tax benefit	(307)	(92)
Net loss	(7,339)	(41,025)
Less: net loss attributable to non-controlling interests	(41)	(37)
Net loss attributable to Athenex, Inc.	(7,298)	(40,988)
Unrealized (loss) gain on investment, net of income taxes	(35)	3
Foreign currency translation adjustment, net of income taxes	718	499
Comprehensive loss	$ (6,615)	$ (40,486)
Net loss per share attributable to Athenex, Inc. common stockholders, basic and diluted (Note 9)	$ (0.12)	$ (1.01)
Weighted-average shares used in computing net loss per share attributable to Athenex, Inc. common stockholders, basic and diluted (Note 9)	61,655,294	40,693,039

Condensed Consolidated Statemen

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total Athenex, Inc. Stockholders' Equity	Non-Controlling Interests
Beginning Balance at Dec. 31, 2016	$ 34,669	$ 42	$ 237,581	$ (195,106)	$ (1,304)	$ (7,406)	$ 33,807	$ 862
Beginning balance, shares at Dec. 31, 2016		42,342,706				(1,656,920)
Stock-based compensation cost	1,605		1,605				1,605
Restricted stock expense	540		540				540
Repurchase of common stock, shares						(16,000)
Stock options and warrants exercised	43		43				43
Stock options and warrants exercised, shares		16,800
Non-controlling interests	49							49
Net loss	(41,025)			(40,988)			(40,988)	(37)
Other comprehensive income, net of tax	502				502		502
Ending balance at Mar. 31, 2017	(3,617)	$ 42	239,769	(236,094)	(802)	$ (7,406)	(4,491)	874
Ending balance, shares at Mar. 31, 2017		42,359,506				(1,672,920)
Beginning Balance at Dec. 31, 2017	90,722	$ 60	423,805	(326,276)	(146)	$ (7,406)	90,037	685
Beginning balance, shares at Dec. 31, 2017		59,894,362				(1,672,920)
Sale of common stock	68,055	$ 4	68,051				68,055
Sale of common stock, shares		4,765,000
Stock-based compensation cost	2,161		2,161				2,161
Restricted stock expense	540		540				540
Stock options and warrants exercised	1,263	$ 1	1,262				1,263
Stock options and warrants exercised, shares		289,487
Net loss	(7,339)			(7,298)			(7,298)	(41)
Other comprehensive income, net of tax	683				683		683
Ending balance at Mar. 31, 2018	$ 156,085	$ 65	$ 495,819	$ (333,574)	$ 537	$ (7,406)	$ 155,441	$ 644
Ending balance, shares at Mar. 31, 2018		64,948,849				(1,672,920)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Statement Of Stockholders Equity [Abstract]
Stock issuance costs and discounts	$ 4,611

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net loss	$ (7,339)	$ (41,025)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	868	816
Stock-based compensation expense	2,701	2,145
Change in fair value of derivative liability		4,276
Amortization of debt discount		1,184
Deferred rent expense	168	208
(Gain) loss on disposal of assets and impairment charges	(62)	79
Research and development license fees settled with convertible bond and stock		7,000
Deferred income taxes	(321)	(92)
Changes in operating assets and liabilities:
Receivables, net	623	844
Prepaid expenses and other assets	494	(1,430)
Inventories	(2,010)	(2,595)
Accounts payable and accrued expenses	(7,848)	7,837
Net cash used in operating activities	(12,726)	(20,753)
Cash flows from investing activities:
Purchase of property and equipment	(1,177)	(1,554)
Purchases of short-term investments	(67,256)	(3,051)
Sale of short-term investments	11,633	8,628
Net cash (used in) provided by investing activities	(56,800)	4,023
Cash flows from financing activities:
Proceeds from sale of stock	72,666
Proceeds from issuance of convertible bonds		10,000
Costs incurred related to the sale of stock	(4,611)	(630)
Proceeds from exercise of stock options	1,263	43
Investment from non-controlling interest		49
Repayment of capital lease obligations and long-term debt	(337)	(261)
Net cash provided by financing activities	68,981	9,201
Net decrease in cash and cash equivalents	(545)	(7,529)
Cash and cash equivalents, beginning of period	39,284	33,125
Effect of exchange rate changes on cash and cash equivalents	478	438
Cash and cash equivalents, end of period	39,217	26,034
Non-cash investing and financing activities:
Accrued purchases of property and equipment	$ 104	1,080
Cost of equity raise in accounts payable and accrued expenses		735
Accrued purchases of pharmaceutical licenses		1,550
Convertible bond issued in lieu of licensing cash payment		$ 7,000

Company and Nature of Business

Company and Nature of Business	3 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Company and Nature of Business	1. Company and Nature of Business Organization and Description of Business Athenex, Inc. (the “Company” or “Athenex”), originally formed under the name Kinex Pharmaceuticals LLC (“Kinex”) in November 2003, commenced operations on February 5, 2004, and operated as a limited liability company until it was incorporated in the State of Delaware under the name Kinex Pharmaceuticals, Inc. on December 31, 2012. The Company changed its name to Athenex, Inc. on August 26, 2015. Athenex is a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer. The Company’s mission is to improve the lives of cancer patients by creating more effective, safer and tolerable treatments. The Company has generated its clinical product candidates through its Orascovery and Src Kinase Inhibition research platforms, which are based on their understanding of human absorption biology and novel kinase binding selection, respectively. The Company has assembled a leadership team and have established operations in the U.S. and China across the pharmaceutical value chain to execute its mission to become a global leader in bringing innovative cancer treatments to the market and improve health outcomes. The Company’s primary activities since commencement have been conducting research and development internally and through corporate collaborators, in-licensing and out-licensing pharmaceutical compounds and technology, and conducting clinical trials. In addition to licensing and consulting revenue, the Company also generates revenue from its commercial and global supply chain platforms. See Note 11 – Revenue Recognition. Significant Risks and Uncertainties The Company has incurred operating losses since its inception and, as a result, as of December 31, 2017 and March 31, 2018 had an accumulated deficit of $326.3 million and $333.6 million, respectively. Operations have been funded primarily through the sale of common stock and, to a lesser extent, from revenue, convertible bond financing, and grant funding. The Company will require significant additional funds to conduct clinical trials and to fund its operations. There can be no assurances, however, that additional funding will be available on favorable terms, or at all. If adequate funds are not available, the Company may be required to delay, modify, or terminate its research and development programs or reduce its planned commercialization efforts. The Company believes that it will be able to obtain additional working capital through equity financings or other arrangements to fund operations, including additional public offerings; however, there can be no assurance that such additional financing, if available, can be obtained on terms acceptable to the Company. If the Company is unable to obtain such additional financing, the Company will need to reevaluate future operating plans and might delay, modify, or terminate its research and development programs or reduce its planned commercialization efforts. Accordingly, there is substantial doubt regarding the Company’s ability to continue as a going concern. These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of the business. The Company’s recurring losses from operations and negative cash flows from operations have raised substantial doubt regarding its ability to continue as a going concern. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. Athenex is subject to a number of risks similar to other biopharmaceutical companies, including, but not limited to, the lack of available capital, possible failure of preclinical testing or clinical trials, inability to obtain marketing approval of product candidates, competitors developing new technological innovations, market acceptance of the Company’s products, and protection of proprietary technology. If the Company does not successfully commercialize or partner any of its product candidates, it will be unable to generate sufficient product revenue and might not, if ever, achieve profitability. Public Offerings of Stock In June 2017, the Company sold an aggregate of 6,900,000 shares of its common stock in its initial public offering (“IPO”) at a price of $11.00 per share for cash proceeds of $64.2 million, net of underwriting discounts and commissions of $6.1 million and offering costs of $5.6 million. In connection with the IPO, convertible bonds with an aggregate principal value of $68.0 million, and a carrying value of $55.8 million, were converted into 7,727,273 shares of common stock. In September 2017, the remaining convertible bond with a principal value of $7.0 million was converted into 795,455 shares of common stock, at a 20% discount from the IPO price. In January 2018, the Company issued and sold 4,300,000 shares of its common stock in a follow-on offering at a public offering price of $15.25 per share. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 645,000 shares of common stock. In February 2018, the underwriters partially exercised their option, purchasing an additional 465,000 shares of common stock at the offering price of $15.25 per share. Net proceeds were approximately $68.1 million, after deducting underwriting discounts and commissions and offering expenses of approximately $4.6 million.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information (Accounting Standards Codification (“ASC”) 270, Interim Reporting ) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all of the information necessary for a full presentation of financial position, results of operations, and cash flows in conformity with GAAP. In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments ) considered necessary for a fair presentation of the results of the Company for the periods presented. These condensed consolidated financial statements reflect the accounts and operations of the Company and those of its subsidiaries in which the Company has a controlling financial interest. Intercompany transactions and balances have been fully eliminated in consolidation. Results of the operations for the three months ended March 31, 2018 are not necessarily indicative of the results expected for the full fiscal year or for any future annual or interim period. These financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on March 26, 2018. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Such management estimates include those relating to assumptions used in clinical research accruals, chargebacks, allowance for doubtful accounts, inventory reserves, income taxes, the estimated useful life and recoverability of long-lived assets, and the valuation of stock-based awards. Actual results could differ from those estimates. Revenue Recognition Effective January 1, 2018, the Company adopted ASC, Topic 606, “ Revenue from Contracts with Customers Revenue Recognition Concentration of Credit Risk, Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. The Company deposits its cash equivalents in interest-bearing money market accounts and certificates of deposit. Although the Company deposits the cash with multiple financial institutions, cash balances may occasionally be in excess of the amounts insured by the Federal Deposit Insurance Corporation. The primary focus of the Company’s investment strategy is to preserve capital and meet liquidity requirements. The Company’s investment policy addresses the level of credit exposure by limiting the concentration in any one corporate issuer and establishing a minimum allowable credit rating. The Company also has significant assets and liabilities held in its overseas manufacturing facility in China, and therefore is subject to foreign currency fluctuation. Recent Accounting Pronouncements Not Yet Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “ Leases (Topic 842) In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (“ASU”) No. 2014-09, “ Revenue from Contracts with Customers (Topic 606) Revenue Recognition In November 2016, the FASB issued ASU 2016-18, “ Statement of Cash Flows (Topic 230): Restricted Cash In May 2017, the FASB issued ASU 2017-09, “ Stock Compensation—Scope of Modification Accounting

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	3. Inventories Inventories consist of the following (in thousands): March 31, 2018 December 31, 2017 Raw materials and purchased parts $ 2,275 $ 1,471 Work in progress 2,830 1,877 Finished goods 13,466 13,213 Total inventories $ 18,571 $ 16,561

Intangible Assets, net

Intangible Assets, net	3 Months Ended
	Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets, net	4. Intangible Assets, net The Company’s identifiable intangible assets, net, consist of the following (in thousands): March 31, 2018 Cost/Fair Value Accumulated Amortization Impairments Net Amortizable intangible assets: Licenses $ 4,650 $ 1,393 $ — $ 3,257 Polymed customer list 1,593 744 — 849 Polymed technology 3,712 865 — 2,847 Product rights 530 166 — 364 Indefinite-lived intangible assets: CDE in-process research and development (IPR&D) 1,026 — — 1,026 Effect of currency translation adjustment (67 ) — — (67 ) Total intangible assets, net $ 11,444 $ 3,168 $ $ 8,276 December 31, 2017 Cost/Fair Value Accumulated Amortization Impairments Net Amortizable intangible assets Licenses $ 4,650 $ 1,173 $ — $ 3,477 Polymed customer list 1,593 675 — 918 Polymed technology 3,712 762 — 2,950 Product rights 530 132 — 398 Indefinite-lived intangible assets: CDE in-process research and development (IPR&D) 1,106 — 80 1,026 Effect of currency translation adjustment (197 ) — — (197 ) Total intangibles, net $ 11,394 $ 2,742 $ 80 $ 8,572 As of March 31, 2018, licenses at cost include an Orascovery license of $0.4 million and licenses purchased from Gland Pharma Limited (“Gland”) of $4.3 million. The Company purchased the Orascovery license directly from Hanmi Pharmaceuticals Co. Ltd. (“Hanmi”) and is being amortizing it on a straight-line basis over a period of 12.75 years, the remaining life of the license agreement at the time of purchase. The licenses purchased from Gland are being amortized on a straight-line basis over a period of five years, the remaining life of the license agreement at the time of purchase. The remaining intangible assets were acquired in connection with the acquisitions of Athenex Pharma Solutions (“APS” formerly known as QuaDPharma), Polymed, and CDE. Intangible assets are amortized using an economic consumption model over their useful lives. The APS customer list was being amortized on a straight-line basis over seven years. The Polymed customer list and technology are amortized on a straight-line basis over six and twelve years, respectively. The CDE in-process research and development, (“IPR&D”), will not be amortized until the related projects are completed. IPR&D will be tested annually for impairment, unless conditions exist causing an earlier impairment test (e.g., abandonment of project). During the three months ended March 31, 2017, the Company abandoned a project within IPR&D and therefore, the related balance of $0.1 million was written-off as impaired and is included within research and development expenses in the consolidated statement of operations and comprehensive loss for the three months ended March 31, 2017. No impairment charges were recorded during the three months ended March 31, 2018. The weighted-average useful life for all intangible assets was 8.24 years as of March 31, 2018. The Company recorded $0.4 million of amortization expense for each of the three-month periods ended March 31, 2018 and 2017, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements Financial instruments consist of cash and cash equivalents, short-term investments, an equity investment, accounts receivable, accounts payable, accrued liabilities, and debt. Short-term investments and the equity investment are stated at fair value. Cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, and debt, are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment date of such amounts. ASC 820, Fair Value Measurements, establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under the ASC 820 are described as follows: Level 1 —Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2 —Inputs to the valuation methodology include: • Quoted prices for similar assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in inactive markets; • Inputs other than quoted prices that are observable for the asset or liability; • Inputs that are derived principally from or corroborated by observable market data by correlation or other means; and • If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Level 3 —Inputs to the valuation methodology are unobservable, supported by little or no market activity, and are significant to the fair value measurement. Transfers between levels, if any, are recorded as of the beginning of the reporting period in which the transfer occurs. There were no transfers between Levels 1, 2 or 3 for any of the periods presented. The following tables represent the fair value hierarchy for those assets and liabilities that the Company measures at fair value on a recurring basis (in thousands): Fair Value Measurements at March 31, 2018 Using: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Money market funds $ 8,030 $ 8,030 $ — $ — Short-term investments - commercial paper 25,314 — 25,314 — Short-term investments - corporate notes 18,958 — 18,958 — Short-term investments - U.S. government bonds 43,318 — 43,318 — Investment 411 411 — — Total assets $ 96,031 $ 8,441 $ 87,590 $ — Fair Value Measurements at December 31, 2017 Using: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Money market funds $ 13,804 $ 13,804 $ — $ — Short-term investments - commercial paper 14,982 — 14,982 — Short-term investments - corporate notes 2,824 — 2,824 — Short-term investments - U.S. government bonds 5,006 — 5,006 — Investment 328 328 — — Total assets $ 36,944 $ 14,132 $ 22,812 $ — The Company classifies its money market funds within Level 1 because it uses quoted market prices to determine their fair value. The Company classifies its commercial paper, corporate notes, and U.S. government bonds within Level 2 because it uses quoted prices for similar assets or liabilities in active markets and each has a specified term and all level 2 inputs are observable for substantially the full term of each instrument. The Company owns 68,000 shares of PharmaEssentia, a company publicly traded on the Taiwan OTC Exchange. As of each of March 31, 2018 and December 31, 2017, the Company’s investment in PharmaEssentia was valued at the reported closing price. This investment is classified as a level 1 investment.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes The Company did not record a provision for federal income taxes for the three months ended March 31, 2018 because it expects to generate a loss for the year ending December 31, 2018 and the Company’s net deferred tax assets continue to be nearly fully offset by a valuation allowance. Tax benefit to date relates to foreign tax benefit on losses in the Peoples Republic of China (“PRC”) offset by state franchise taxes and amortization of long-lived intangible assets in the U.S. and PRC.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	7. Related Party Transactions During the three months ended March 31, 2018 and 2017, the Company entered into transactions with individuals and companies that have financial interests in the Company. Related party transactions included the following: a. In 2015, CDE signed an agreement with Avalon BioMedical (Management) (“Avalon”) under which Avalon will receive certain administrative services and will occupy space at CDE’s research location. Avalon reimburses CDE for these administrative services as incurred and pays CDE a percentage of the total rent payment based on its staff headcount occupying the Hong Kong research and development facility (See Note 12— Commitments and Contingencies b. The Company receives consulting and licensing revenue from PharmaEssentia, a company in which Athenex has an investment classified as available-for-sale (see Note 5— Fair Value Measurements c. The Company receives certain clinical development services from ZenRx Limited and its subsidiaries (“ZenRx”), a company for which one of our executive officers serves on the board of directors. In connection with such services, the Company made payments to ZenRx of $0.1 million for the three months ended March 31, 2018. There were no such payments in the quarter ended March 31, 2017. As of March 31, 2018, amounts owed to ZenRx were $0.1 million. In April 2013, the Company entered into a license agreement with ZenRx pursuant to which the Company granted an exclusive, sublicensable license to use certain of our intellectual property to develop and commercialize Oratecan and Oraxol in Australia and New Zealand, and a non-exclusive license to manufacture a certain compound, but only for use in Oratecan and Oraxol. ZenRx is responsible for all development, manufacturing and commercialization, and the related costs and expenses, of any product candidates resulting from the agreement. No revenue was earned from this license agreement in the periods presented in these consolidated financial statements. d. The Company received consulting services from RSJ Consulting LLC (“RSJ”), a limited liability company for which one of our executive officers serves as the principal. Services incurred from RSJ amounted to $0 and $0.1 million for the three months ended March 31, 2018 and 2017, respectively. e. The Company issued and sold $4.0 million in convertible bonds in 2017 to related parties. During the first quarter of 2017, the Company issued and sold $4.0 million in convertible bonds to two related parties. One of the holders of more than 5% of our outstanding common stock as of the IPO date and a director of the Company each purchased $2.0 million in convertible bonds. In June 2017, these bonds were converted into 2,727,273 shares of common stock. f. Certain family members of executives perform consulting services to the Company. Such services were not significant to the consolidated financial statements.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Based Compensation	8. Stock-Based Compensation Common Stock Option Plans The Company has three common stock option plans adopted in 2013, 2007 and 2004 (the “Plans”) which authorize the grant of up to 11,800,000 common stock options to employees, directors, and consultants. Additionally, on June 14, 2017, the Company adopted its 2017 Omnibus Incentive Plan and 2017 Employee Stock Purchase Plan (the “2017 Plans”). Under the 2017 Plans, 5,200,000 shares of common stock are reserved for future issuance to employees, directors, and consultants, including 1,000,000 reserved for an Employee Stock Purchase Plan, which was established at IPO but no shares have as yet been issued. Stock Options The total fair-value of stock options vested and recorded as compensation expense during the three months ended March 31, 2018 and 2017 was $2.2 million and $1.6 million, respectively. As of March 31, 2018 and 2017, $19.5 million and $9.2 million of unrecognized cost related to non-vested stock options was expected to be recognized over a weighted-average period of approximately 1.8 years and 1.4 years, respectively. The total intrinsic value of options exercised was approximately $3.4 million and $0.1 million for the three months ended March 31, 2018 and 2017, respectively. The following table summarizes the status of the Company’s stock option activity granted under the Plans to employees, directors, and consultants (in thousands, except stock option amounts): Stock Options Weighted- Average Exercise price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2017 10,176,643 $ 7.19 6.83 $ 88,615 Granted 760,900 17.25 Exercised (289,487 ) 4.69 Forfeited and expired (10,170 ) 11.06 Outstanding at March 31, 2018 10,637,886 $ 7.98 6.91 $ 96,103 Vested and exercisable at March 31, 2018 6,657,501 $ 5.96 5.86 $ 73,552 The Company determines the fair value of stock-based awards on the grant date using the Black-Scholes option pricing model, which is impacted by assumptions regarding a number of highly subjective variables. The following table summarizes the weighted-average assumptions used as inputs to the Black-Scholes model during the periods indicated: Three months ended Three months ended March 31, 2018 March 31, 2017 Weighted average grant date fair value $ 9.43 $ 6.45 Expected dividend yield — % — % Expected stock price volatility 59 % 65 % Risk-free interest rate 2.57 % 1.94 % Expected life of options (in years) 5.6 6.3 Restricted Stock Restricted stock grants cliff vest on the anniversary or their grant dates. During the three months ended March 31, 2018, no restricted shares vested and as of March 31, 2018, 240,000 restricted shares remained unvested. Stock-Based Compensation Cost The components of stock-based compensation and the amounts recorded within research and development expenses and selling, general, and administrative expenses in the Company’s consolidated statements of operations and comprehensive loss consisted of the following for the three months ended March 31, 2018 and 2017 (in thousands): Three Months Ended March 31, 2018 2017 Stock options $ 2,161 $ 1,605 Restricted stock expense 540 540 Total stock-based compensation expense $ 2,701 $ 2,145 Cost of product sales $ 44 $ 22 Research and development expenses 513 462 Selling, general, and administrative expenses 2,144 1,661 Total stock-based compensation expense $ 2,701 $ 2,145

Net Loss per Share Attributable

Net Loss per Share Attributable to Athenex, Inc. Common Stockholders	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Loss per Share Attributable to Athenex, Inc. Common Stockholders	9. Net Loss per Share Attributable to Athenex, Inc. Common Stockholders Basic net loss per share is calculated by dividing net loss attributable to Athenex, Inc. common stockholders by the weighted-average number of common shares issued, outstanding, and vested during the period. Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common share and common shares equivalents for the period using the treasury-stock method. For the purposes of this calculation, warrants for common stock and stock options are considered common stock equivalents but are only included in the calculation of diluted net loss per share when their effect is dilutive. The following outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive: Three Months Ended March 31, 2018 2017 Stock options and other common stock equivalents 9,931,020 9,591,839 Unvested restricted shares 240,000 661,982 Total potential dilutive shares 10,171,020 10,253,821

Business Segment, Geographic, a

Business Segment, Geographic, and Concentration Risk Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Business Segment, Geographic, and Concentration Risk Information	10. Business Segment, Geographic, and Concentration Risk Information The Company has three operating segments, which are organized based mainly on the nature of the business activities performed and regulatory environments in which they operate. The Company also considers the types of products from which the reportable segments derive their revenue (only applicable to two reportable segments). Each operating segment has a segment manager who is held accountable for operations and has discrete financial information that is regularly reviewed by the Company’s chief operating decision-maker. The Company’s operating segments are as follows: Oncology Innovation Platform —This operating segment performs research and development on certain of the Company’s proprietary drugs, from the preclinical development of its chemical compounds, to the execution and analysis of its several clinical trials. This segment focuses specifically on the Orascovery oral absorption platform, the Src Kinase inhibitors, and the transmucosal drug delivery system. This segment performs research in the United States, Taiwan, Hong Kong, and mainland China. Global Supply Chain Platform —This operating segment includes Athenex Pharma Solutions and Polymed. Athenex Pharma Solutions is a contract manufacturing company that provides small to mid-scale cGMP manufacturing of clinical and commercial products for pharmaceutical and biotech companies. Athenex Pharma Solutions also performs microbiological and analytical testing for raw material and formulated products and has expanded and begun to manufacture and sell pharmaceutical products under 503B regulations set forth by the U.S. Food and Drug Administration (“FDA”). Polymed markets and sells API and medical devices in North America, Europe, and Asia from its locations in Texas and China. Polymed also develops new compounds, processing techniques, and manufactures API at Taihao, a cGMP facility in Chongqing, China. Currently, a majority of the Company’s revenue is generated by this segment. Commercial Platform —This operating segment includes Athenex Pharmaceutical Division, which focuses on the manufacturing, distribution, and sales of generic pharmaceuticals. This segment provides services and products to external customers based mainly in the United States. The Company’s Oncology Innovation Platform segment operates and holds long-lived assets located in the United States, Taiwan, Hong Kong, and mainland China. The Global Supply Chain Platform segment operates and holds long-lived assets located in the United States and China. The Commercial Platform segment operates and holds long-lived assets located in the United States. For geographic segment reporting, product sales have been attributed to countries based on the location of the customer. Segment information is as follows (in thousands): Three Months Ended March 31, 2018 2017 Net (loss) income attributable to Athenex, Inc.: Oncology Innovation Platform $ 1,509 $ (28,259 ) Global Supply Chain Platform (6,569 ) (1,148 ) Commercial Platform (2,238 ) (11,581 ) Total consolidated net loss attributable to Athenex, Inc. $ (7,298 ) $ (40,988 ) Three Months Ended March 31, 2018 2017 Total revenue: Oncology Innovation Platform $ 25,231 $ 733 Global Supply Chain Platform 5,127 6,296 Commercial Platform 8,694 77 Total revenue for reportable segments 39,052 7,106 Intersegment revenue (1,216 ) (2,525 ) Total consolidated revenue $ 37,836 $ 4,581 Intersegment revenue eliminated in the above table reflects sales from the Global Supply Chain Platform to the Oncology Innovation Platform. Three Months Ended March 31, 2018 2017 Total revenue by product group: API sales $ 2,642 $ 3,000 Medical device sales 585 335 Contract manufacturing revenue 241 437 Commercial product sales 9,137 128 License fees and consulting revenue 25,091 598 Grant revenue 140 83 Total consolidated revenue $ 37,836 $ 4,581 Intersegment revenue is recorded by the selling segment when it is realized or realizable and all revenue recognition criteria are met. Upon consolidation, all intersegment revenue and related cost of sales are eliminated from the selling segment’s ledger. Three Months Ended March 31, 2018 2017 Total depreciation and amortization: Oncology Innovation Platform $ 156 $ 92 Global Supply Chain Platform 467 526 Commercial Platform 245 198 Total consolidated depreciation and amortization $ 868 $ 816 March 31, December 31, 2018 2017 Total assets: Oncology Innovation Platform $ 123,648 $ 65,966 Global Supply Chain Platform 50,726 51,128 Commercial Platform 23,159 23,319 Total consolidated assets $ 197,533 $ 140,413 Three Months Ended March 31, 2018 2017 Total revenue: United States $ 9,901 $ 713 Spain 25,000 — India 962 1,471 Austria 1,243 1,002 China 648 312 Taiwan — 500 Other foreign countries 82 583 Total consolidated revenue $ 37,836 $ 4,581 March 31, December 31, 2018 2017 Total property and equipment, net: United States $ 5,612 $ 5,305 China 4,756 4,346 Total consolidated property and equipment, net $ 10,368 $ 9,651 Customer revenue and accounts receivable concentration amounted to the following for the identified periods. These customers relate to the Commercial Platform segment and the Global Supply Chain Platform segment. Three Months Ended March 31, 2018 2017 Percentage of total revenue by customer: Customer A 3 % 28 % Customer B 3 % 22 % Customer C 10 % — % Customer D 66 % — % March 31, December 31, 2018 2017 Percentage of total accounts receivable by customer: Customer A 7 % 26 % Customer B 14 % 18 % Customer C 22 % 13 % Customer D — % 10 % Customer E 33 % — %

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenue Recognition	11. Revenue Recognition Nature of goods and services Following is a description of principal activities – separated by reportable segments – from which the Company generates its revenue. For more detailed information about reportable segments, see Note 10 – Business Segment, Geographic, and Concentration Risk Information . 1. Oncology Innovation Platform License fees and consulting revenue The Company out-licenses certain of its intellectual property (“IP”) and provides related consulting services to pharmaceutical companies in specific territories that allow the customer to use, develop, commercialize, or otherwise exploit the licensed IP. In accordance with Topic 606, the Company determines each of its performance obligations under the agreements and allocates the transaction price to those obligations accordingly. The Company’s obligations may include delivering the license of IP (if the license is deemed to be distinct), performing continued research and development on the licensed IP, manufacturing the licensed product, or maintaining the legal protection for the licensed IP throughout the duration of the agreement, among other obligations. Most of the Company’s revenue from its out-licensing is recognized at a point-in-time, when the performance obligation associated with an upfront payment or milestone is satisfied. Grant revenue The Company receives grant award funding to support its continuing research and development efforts. The Company considers these grants to be operating revenue as they support the Company’s primary operating activities. Revenue is recognized when the underlying performance obligation is satisfied, which is generally when all grant eligibility criteria are met at a point-in-time. 2. Global Supply Chain Platform The Company’s Global Supply Chain Platform manufactures API for use internally in its research and development and clinical studies and for sale to pharmaceutical customers globally. API revenue earned by the Global Supply Platform is recognized when the Company has satisfied its performance obligation, which is the shipment or delivery of drug product. The underlying contracts for these sales are generally purchase orders and the Company recognizes revenue at a point-in-time. The Company also generates revenue, to a lesser extent, by providing small to mid-scale cGMP manufacturing of clinical and commercial products for pharmaceutical and biotech companies and selling pharmaceutical products under 503B regulations set forth by the FDA. 3. Commercial Platform The Company’s Commercial Platform generates revenue by distributing specialty products through independent pharmaceutical wholesalers. The wholesalers then sell to an end-user, normally a hospital, alternative healthcare facility, or an independent pharmacy, at a lower price previously established by the end-user and the Company. Sales are initially recorded at the list price sold to the wholesaler. Because these prices will be reduced for the end-user, the Company records a contra asset in accounts receivable and a reduction to revenue at the time of the sale, using the difference between the list price and the estimated end-user contract price. Upon the sale by the wholesaler to the end-user, the wholesaler will chargeback the difference between the original list price and price at which the product was sold to the end-user and such chargeback is offset against the initial estimated contra asset. The significant estimates inherent in the initial chargeback provision relate to wholesale units pending chargeback and to the ultimate end-user contract selling price. The Company bases the estimate for these factors on product-specific sales and internal chargeback processing experience, as well as estimated wholesaler inventory stocking levels. As of March 31, 2018 and December 31, 2017, the Company’s chargeback provision totaled $2.5 million and $3.7 million, respectively, included as a reduction of accounts receivable. The Company offers cash discounts, which approximate 2% of the gross sales price, as an incentive for prompt customer payment, and, consistent with industry practice, the Company’s return policy permits customers to return products within a window of time before and after the expiration of product dating. The Company expects that its wholesale customers will make prompt payments to take advantage of the cash discounts, and expects customers to use their right of return. Therefore, at the time of sale, product revenue and accounts receivable are reduced by the full amount of the discount offered and the return expected. The Company considers payment performance and historical return rates and adjusts the accrual to reflect actual experience. As of March 31, 2018 and December 31, 2017, the Company’s accrual for cash discounts and return accrual included as a reduction of accounts receivable were not material to the consolidated financial statements. The Company also offers contractual allowances, generally rebates or administrative fees, to certain wholesale customers, group purchasing organizations (“GPOs”), and end-user customers, consistent with pharmaceutical industry practices. Settlement of rebates and fees may generally occur from one to five months from date of sale. The Company provides a provision for contractual allowances at the time of sale based on the historical relationship between sales and such allowances. Contractual allowances are reflected in the consolidated financial statements as a reduction of revenue and as accrued expenses. The Company estimates the variable transaction price at the time of the sale and recognizes revenue when the performance obligation is satisfied. The underlying contracts for these sales are generally purchase orders and the Company recognizes revenue at a point-in-time. Disaggregation of revenue The following represents the Company’s revenue for its reportable segment by country, based on the locations of the customer. Three Months Ended March 31, 2018 (In Thousands) Oncology Innovation Platform Global Supply Chain Platform Commercial Platform Consolidated Total United States $ — $ 1,208 $ 8,694 $ 9,901 India — 962 — 962 Austria — 1,243 — 1,243 China 231 417 — 648 Spain 25,000 — — 25,000 Other foreign countries — 82 — 82 Total revenue $ 25,231 $ 3,911 $ 8,694 $ 37,836 Three Months Ended March 31, 2017 (In Thousands) Oncology Innovation Platform Global Supply Chain Platform Commercial Platform Consolidated Total United States $ — $ 636 $ 77 $ 713 India — 1,471 — 1,471 Austria — 1,002 — 1,002 China 233 79 — 312 Taiwan 500 — — 500 Other foreign countries — 583 — 583 Total revenue $ 733 $ 3,771 $ 77 $ 4,581 The Company also disaggregates its revenue by product group which can be found in Note 10 – Business Segment, Geographic, and Concentration Risk Information Contract balances The following table provides information about receivables and contract liabilities from contracts with customers. The Company has not recorded any contract assets from contracts with customers. March 31, 2018 December 31, 2017 Accounts receivable, gross $ 10,397 $ 12,263 Allowance for doubtful accounts, chargebacks, and other deductions (2,552 ) (3,795 ) Accounts receivable, net $ 7,845 $ 8,468 Deferred revenue $ 5,740 $ 1,202 Total contract liabilities $ 5,740 $ 1,202 The following tables illustrate accounts receivable balances by reportable segments. March 31, 2018 (In Thousands) Oncology Innovation Platform Global Supply Chain Platform Commercial Platform Consolidated Total Accounts receivable, gross $ 19 $ 3,320 $ 7,057 $ 10,397 Allowance for doubtful accounts, chargebacks, and other deductions — (73 ) (2,479 ) (2,552 ) Accounts receivable, net $ 19 $ 3,247 $ 4,578 $ 7,845 December 31, 2017 (In Thousands) Oncology Innovation Platform Global Supply Chain Platform Commercial Platform Consolidated Total Accounts receivable, gross $ 49 $ 4,553 $ 7,661 $ 12,263 Allowance for doubtful accounts, chargebacks, and other deductions — (84 ) (3,711 ) (3,795 ) Accounts receivable, net $ 49 $ 4,469 $ 3,950 $ 8,468 As of March 31, 2018, $5.0 million of the deferred revenue balance relates to out-license revenue included in the non-refundable upfront fee payment of $30.0 million from the collaboration agreement with Almirall, S.A. This payment was allocated to two distinct performance obligations, $25.0 million to the execution and delivery of the license, and $5.0 million to the delivery of certain clinical data for the licensed IP. The Company satisfied its performance obligation to license the IP to the licensee during the three months ended March 31, 2018 and recognized $25.0 million of revenue accordingly. As of March 31, 2018, the Company had not satisfied its performance obligation to deliver the clinical data and therefore, $5.0 million of this license payment was recorded as deferred revenue on the condensed consolidated balance sheet. The remaining $0.7 million of deferred revenue relates to customer deposits made by customers of the Global Supply Chain Platform. As of December 31, 2017, the $1.2 million contract liability related to customer deposits made by customers of the Global Supply Chain Platform. The Company satisfied its performance obligations allocated to these contract liabilities in the three months ended March 31, 2018. There were no other material changes to contract balances during the three months ended March 31, 2018. Performance obligations and transaction price allocation Product sales The contracts related to product sales in the Global Supply Chain and Commercial Platforms include a single performance obligation, which is the shipment or delivery of products. The Company records revenue allocated to these performance obligations at a point-in-time, when the underlying obligation is satisfied. Contracts for product sales under the Commercial Platform include variable consideration with the single performance obligation. The transaction price is determined using the method described as a significant judgment below and is allocated directly to the single performance obligation. Contracts for product sales under the Global Supply Chain Platform include a fixed transaction price and a single performance obligation. Therefore, the transaction price is allocated to the single obligation and there are no further allocation methods or assumptions used. Any remaining performance obligations related to product sales are the result of customer deposits and are reflected in the deferred revenue contract liability balance above. There were no remaining performance obligations related to the Commercial Platform as of March 31, 2018. License fees and consulting revenue The Company analyzes each of its out-licensing contracts with customers to identify each of the performance obligations within the contract. Each out-license contains multiple performance obligations. The Company has determined that each of its out-license agreements with customers are classified as functional licenses and are capable of being distinct, because the IP that is licensed carries standalone value and is not expected to be altered through the life of the agreement. Therefore, for each of its out-licenses, the Company has determined that the execution of the license and delivery of the IP to the licensee is a distinct performance obligation. As such, the Company records revenue at a point-in-time for its out-licensing if any of the transaction price is allocated to the obligation, including up-front license payments. Revenue recognized at a point-in-time for the execution of a distinct license of IP amounted to $25.0 million and $0 for the three months ended March 31, 2018 and 2017, respectively. Other performance obligations included in the Company’s out-license agreements include reaching milestone development and regulatory events by performing research and development activities over the licensed IP. The Company did not reach any milestone events during the three months ended March 31, 2018 and reached one milestone event during the three months ended March 31, 2017 resulting in $0.5 million of revenue recognized. The Company recorded the associated milestone payment as revenue at a point-in-time. One of the Company’s contracts includes consulting services including managing a customer’s research and development office, which is considered a distinct performance obligation. Revenue allocated to this performance obligation is recognized over-time as these services are provided. These services were not material to the condensed consolidated financial statements for the three months ended March 31, 2018 and 2017. Certain out-license agreements include performance obligations to manufacture and provide drug product in the future when the licensed product is approved for commercial sale. To date, the Company has not satisfied any of these performance obligations as none of its drugs are approved by the regulatory agencies in each of the licensed territories. In addition to the multiple performance obligations, the Company’s out-license agreements include variable pricing. After the performance obligations are identified, the Company determines each portion of the transaction price, which generally include upfront fees, milestone payments, and royalty payments. The Company begins by allocating the payments set forth in the agreement to the performance obligation to which the consideration is related. Then, the Company considers whether or not that transaction price is fixed, variable, or subject to return. If any portion of the transaction price is constrained by more than one performance obligation, the Company allocated that portion of the transaction price to the performance obligation that will be satisfied later and will not recognize revenue until it is fully satisfied and the constraint on the transaction price no longer exists. There are no other significant methods employed to allocate the transaction price to performance obligations in a contract with a customer. The Company’s remaining performance obligations related to its out-license agreement include all of the above distinct obligations which might or might not be satisfied in the future, based on the clinical progression and commercialization of the licensed IP. The Company applies the practical expedient in paragraph 606-10-50-14 and does not disclose information about remaining performance obligations related to the license of intellectual property. Grant revenue The Company’s performance obligations related to its research and development grants are recorded at a point-in-time. Performance obligations in these contracts include various eligibility conditions that the Company must satisfy to maintain the grant agreement. Grant revenue is not signification to the consolidated financial statements. Performance obligations remaining as of March 31, 2018 were not material to the financial statements and do not significantly alter the Company’s business operations. Contracts for the grant revenue include a fixed transaction price and a single performance obligation. Therefore, the transaction price is allocated to the single obligation and there are no further allocation methods or assumptions used. Significant judgments used Specialty revenue from the Company’s Commercial Platform includes certain significant judgments due to the nature of the process to deliver the product to the end-user and the variable consideration involved. As described above, the Company sells product to wholesalers at a gross price higher than the price paid by the end-user. When the Company satisfies its performance obligation for these sales, which is the delivery of products to the customer, most often a wholesaler, the Company records the gross sales price to the wholesaler and estimates all other factors affecting the transaction price to record as a reduction to that revenue. Factors that determine the final net transaction price include chargebacks (the difference between the gross price to the wholesaler and the price at which the wholesaler sold to their customer), fees for service, cash discounts, rebates, returns, warranties, and other factors. The Company estimates all of these variables based on historical data obtained from previous sales finalized with the end-user customer. This is performed on a product-by-product basis and uses data obtained from the Company’s third-party logistics provider. At the time of sale, revenue is recorded net of each of these deductions. Through the normal course of business, the wholesaler will sell the product to the end-user, determining the actual chargeback, return products, and take advantage of cash discounts, charge fees for services, and claim warranties on products. The final transaction price per product is compared to the initial estimated net sale price and reviewed for accuracy. The final prices and other factors are immediately included in the Company’s historical data from which it will estimate the transaction price for future sales. Sales subject to these transaction price judgments amounted to $8.7 million for the three months ended March 31, 2018. The Company does not believe that the final transaction price of these sales will vary materially from the revenue recorded during the period. Significant judgments are used in the recognition of licensing fees. They often contain several performance obligation and a multi-faceted variable transaction price. Initially, significant judgment is involved to determine if the license is function or symbolic, which is based on its ability to be a distinct performance obligation. The Company considers all economic and regulatory characteristics of the licensed IP to determine if it has standalone value on the date of the license, which would make the license distinct and dictate that the Company recognizes any transaction price allocated to the license performance obligation, including upfront fees, at a point-in-time. The Company has determined that each of its out-licensing agreements is distinct, or capable of being distinct and as such, it represents its own performance obligation. There are also significant judgments used in allocating the transaction price of out-license agreements to the various performance obligations. Transaction prices included the out-license contract with customers often include upfront payments, regulatory and commercial milestone payments, and royalties once the licensed IP is approved for commercial sale. Due to the clinical stage of the drugs under these licenses, the Company has only recognized revenue related to upfront payments and certain milestone payments. The values of each of those payments is fixed, the judgment involved relates to the allocation of those payments to the proper performance obligations, considering if any of those payments are refundable or are contingent on any future events. Of the $30.0 million upfront license payment the Company received during the three months ended March 31, 2018, $5.0 million related to a separate performance obligation. Therefore, this amount was deferred and will be recognized when the future performance obligation is fulfilled. The Company did not use any other significant judgments related to out-license revenue during the three months ended March 31, 2018. Contract costs The Company has not recorded any contract assets from contracts with customers. Practical expedients used During the adoption of ASC 606, the Company applied the practical expedient in paragraph 606-10-10-4, the Portfolio Approach The Company applies the practical expedient in paragraph 606-10-50-14 and does not disclose information about remaining performance obligations related to the license of intellectual property (“IP”). This practical expedient is applied because its out-licenses agreements include sales-based royalties in exchange for the license of IP accounted for in accordance with Topic 606 and there is significant uncertainty surrounding the future variable consideration that could be received.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Future minimum payments under the non-cancelable operating leases consisted of the following as of March 31, 2018 (in thousands): Year ending December 31: Minimum payments 2018 (remaining nine months) $ 1,678 2019 2,383 2020 2,247 2021 1,844 2022 1,802 Thereafter 4,671 $ 14,625 Legal Proceedings The Company is not a party to any pending or known threatened legal proceedings that, in the opinion of the Company, would have a material impact on the Company’s condensed consolidated financial statements.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information (Accounting Standards Codification (“ASC”) 270, Interim Reporting ) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all of the information necessary for a full presentation of financial position, results of operations, and cash flows in conformity with GAAP. In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments ) considered necessary for a fair presentation of the results of the Company for the periods presented. These condensed consolidated financial statements reflect the accounts and operations of the Company and those of its subsidiaries in which the Company has a controlling financial interest. Intercompany transactions and balances have been fully eliminated in consolidation. Results of the operations for the three months ended March 31, 2018 are not necessarily indicative of the results expected for the full fiscal year or for any future annual or interim period. These financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on March 26, 2018.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Such management estimates include those relating to assumptions used in clinical research accruals, chargebacks, allowance for doubtful accounts, inventory reserves, income taxes, the estimated useful life and recoverability of long-lived assets, and the valuation of stock-based awards. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition Effective January 1, 2018, the Company adopted ASC, Topic 606, “ Revenue from Contracts with Customers Revenue Recognition
Concentration of Credit Risk, Other Risks and Uncertainties	Concentration of Credit Risk, Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. The Company deposits its cash equivalents in interest-bearing money market accounts and certificates of deposit. Although the Company deposits the cash with multiple financial institutions, cash balances may occasionally be in excess of the amounts insured by the Federal Deposit Insurance Corporation. The primary focus of the Company’s investment strategy is to preserve capital and meet liquidity requirements. The Company’s investment policy addresses the level of credit exposure by limiting the concentration in any one corporate issuer and establishing a minimum allowable credit rating. The Company also has significant assets and liabilities held in its overseas manufacturing facility in China, and therefore is subject to foreign currency fluctuation.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “ Leases (Topic 842) In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (“ASU”) No. 2014-09, “ Revenue from Contracts with Customers (Topic 606) Revenue Recognition In November 2016, the FASB issued ASU 2016-18, “ Statement of Cash Flows (Topic 230): Restricted Cash In May 2017, the FASB issued ASU 2017-09, “ Stock Compensation—Scope of Modification Accounting

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following (in thousands): March 31, 2018 December 31, 2017 Raw materials and purchased parts $ 2,275 $ 1,471 Work in progress 2,830 1,877 Finished goods 13,466 13,213 Total inventories $ 18,571 $ 16,561

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Identifiable Intangible Asset, Net	The Company’s identifiable intangible assets, net, consist of the following (in thousands): March 31, 2018 Cost/Fair Value Accumulated Amortization Impairments Net Amortizable intangible assets: Licenses $ 4,650 $ 1,393 $ — $ 3,257 Polymed customer list 1,593 744 — 849 Polymed technology 3,712 865 — 2,847 Product rights 530 166 — 364 Indefinite-lived intangible assets: CDE in-process research and development (IPR&D) 1,026 — — 1,026 Effect of currency translation adjustment (67 ) — — (67 ) Total intangible assets, net $ 11,444 $ 3,168 $ $ 8,276 December 31, 2017 Cost/Fair Value Accumulated Amortization Impairments Net Amortizable intangible assets Licenses $ 4,650 $ 1,173 $ — $ 3,477 Polymed customer list 1,593 675 — 918 Polymed technology 3,712 762 — 2,950 Product rights 530 132 — 398 Indefinite-lived intangible assets: CDE in-process research and development (IPR&D) 1,106 — 80 1,026 Effect of currency translation adjustment (197 ) — — (197 ) Total intangibles, net $ 11,394 $ 2,742 $ 80 $ 8,572

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables represent the fair value hierarchy for those assets and liabilities that the Company measures at fair value on a recurring basis (in thousands): Fair Value Measurements at March 31, 2018 Using: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Money market funds $ 8,030 $ 8,030 $ — $ — Short-term investments - commercial paper 25,314 — 25,314 — Short-term investments - corporate notes 18,958 — 18,958 — Short-term investments - U.S. government bonds 43,318 — 43,318 — Investment 411 411 — — Total assets $ 96,031 $ 8,441 $ 87,590 $ — Fair Value Measurements at December 31, 2017 Using: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Money market funds $ 13,804 $ 13,804 $ — $ — Short-term investments - commercial paper 14,982 — 14,982 — Short-term investments - corporate notes 2,824 — 2,824 — Short-term investments - U.S. government bonds 5,006 — 5,006 — Investment 328 328 — — Total assets $ 36,944 $ 14,132 $ 22,812 $ —

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock Option Activity	The following table summarizes the status of the Company’s stock option activity granted under the Plans to employees, directors, and consultants (in thousands, except stock option amounts): Stock Options Weighted- Average Exercise price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2017 10,176,643 $ 7.19 6.83 $ 88,615 Granted 760,900 17.25 Exercised (289,487 ) 4.69 Forfeited and expired (10,170 ) 11.06 Outstanding at March 31, 2018 10,637,886 $ 7.98 6.91 $ 96,103 Vested and exercisable at March 31, 2018 6,657,501 $ 5.96 5.86 $ 73,552
Schedule of Weighted Average Assumptions Used as Inputs to Black-Scholes Model	The following table summarizes the weighted-average assumptions used as inputs to the Black-Scholes model during the periods indicated: Three months ended Three months ended March 31, 2018 March 31, 2017 Weighted average grant date fair value $ 9.43 $ 6.45 Expected dividend yield — % — % Expected stock price volatility 59 % 65 % Risk-free interest rate 2.57 % 1.94 % Expected life of options (in years) 5.6 6.3
Schedule of Stock-Based Compensation Expense	The components of stock-based compensation and the amounts recorded within research and development expenses and selling, general, and administrative expenses in the Company’s consolidated statements of operations and comprehensive loss consisted of the following for the three months ended March 31, 2018 and 2017 (in thousands): Three Months Ended March 31, 2018 2017 Stock options $ 2,161 $ 1,605 Restricted stock expense 540 540 Total stock-based compensation expense $ 2,701 $ 2,145 Cost of product sales $ 44 $ 22 Research and development expenses 513 462 Selling, general, and administrative expenses 2,144 1,661 Total stock-based compensation expense $ 2,701 $ 2,145

Net Loss per Share Attributab25

Net Loss per Share Attributable to Athenex, Inc. Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule Outstanding Shares of Common Stock Equivalents Excluded from the Calculation of Diluted Net Loss Per Share	The following outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive: Three Months Ended March 31, 2018 2017 Stock options and other common stock equivalents 9,931,020 9,591,839 Unvested restricted shares 240,000 661,982 Total potential dilutive shares 10,171,020 10,253,821

Business Segment, Geographic,26

Business Segment, Geographic, and Concentration Risk Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Summary of Segment Information	Segment information is as follows (in thousands): Three Months Ended March 31, 2018 2017 Net (loss) income attributable to Athenex, Inc.: Oncology Innovation Platform $ 1,509 $ (28,259 ) Global Supply Chain Platform (6,569 ) (1,148 ) Commercial Platform (2,238 ) (11,581 ) Total consolidated net loss attributable to Athenex, Inc. $ (7,298 ) $ (40,988 )
Summary of Revenue by Segments	Three Months Ended March 31, 2018 2017 Total revenue: Oncology Innovation Platform $ 25,231 $ 733 Global Supply Chain Platform 5,127 6,296 Commercial Platform 8,694 77 Total revenue for reportable segments 39,052 7,106 Intersegment revenue (1,216 ) (2,525 ) Total consolidated revenue $ 37,836 $ 4,581
Summary of Revenue by Product Group	Three Months Ended March 31, 2018 2017 Total revenue by product group: API sales $ 2,642 $ 3,000 Medical device sales 585 335 Contract manufacturing revenue 241 437 Commercial product sales 9,137 128 License fees and consulting revenue 25,091 598 Grant revenue 140 83 Total consolidated revenue $ 37,836 $ 4,581
Summary of Depreciation, Amortization and Assets by Segment	Three Months Ended March 31, 2018 2017 Total depreciation and amortization: Oncology Innovation Platform $ 156 $ 92 Global Supply Chain Platform 467 526 Commercial Platform 245 198 Total consolidated depreciation and amortization $ 868 $ 816 March 31, December 31, 2018 2017 Total assets: Oncology Innovation Platform $ 123,648 $ 65,966 Global Supply Chain Platform 50,726 51,128 Commercial Platform 23,159 23,319 Total consolidated assets $ 197,533 $ 140,413
Summary of Revenue by Geographical Segment	Three Months Ended March 31, 2018 2017 Total revenue: United States $ 9,901 $ 713 Spain 25,000 — India 962 1,471 Austria 1,243 1,002 China 648 312 Taiwan — 500 Other foreign countries 82 583 Total consolidated revenue $ 37,836 $ 4,581
Summary of Property and Equipment by Geographical Segment	March 31, December 31, 2018 2017 Total property and equipment, net: United States $ 5,612 $ 5,305 China 4,756 4,346 Total consolidated property and equipment, net $ 10,368 $ 9,651
Summary of Customer Revenue and Accounts Receivable Concentration	Customer revenue and accounts receivable concentration amounted to the following for the identified periods. These customers relate to the Commercial Platform segment and the Global Supply Chain Platform segment. Three Months Ended March 31, 2018 2017 Percentage of total revenue by customer: Customer A 3 % 28 % Customer B 3 % 22 % Customer C 10 % — % Customer D 66 % — % March 31, December 31, 2018 2017 Percentage of total accounts receivable by customer: Customer A 7 % 26 % Customer B 14 % 18 % Customer C 22 % 13 % Customer D — % 10 % Customer E 33 % — %

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Schedule of Company's Revenue for Reportable Segment by Country Based on Locations of Customer	Disaggregation of revenue The following represents the Company’s revenue for its reportable segment by country, based on the locations of the customer. Three Months Ended March 31, 2018 (In Thousands) Oncology Innovation Platform Global Supply Chain Platform Commercial Platform Consolidated Total United States $ — $ 1,208 $ 8,694 $ 9,901 India — 962 — 962 Austria — 1,243 — 1,243 China 231 417 — 648 Spain 25,000 — — 25,000 Other foreign countries — 82 — 82 Total revenue $ 25,231 $ 3,911 $ 8,694 $ 37,836 Three Months Ended March 31, 2017 (In Thousands) Oncology Innovation Platform Global Supply Chain Platform Commercial Platform Consolidated Total United States $ — $ 636 $ 77 $ 713 India — 1,471 — 1,471 Austria — 1,002 — 1,002 China 233 79 — 312 Taiwan 500 — — 500 Other foreign countries — 583 — 583 Total revenue $ 733 $ 3,771 $ 77 $ 4,581
Summary of Receivables and Contract Liabilities From Contracts with Customers	The following table provides information about receivables and contract liabilities from contracts with customers. The Company has not recorded any contract assets from contracts with customers. March 31, 2018 December 31, 2017 Accounts receivable, gross $ 10,397 $ 12,263 Allowance for doubtful accounts, chargebacks, and other deductions (2,552 ) (3,795 ) Accounts receivable, net $ 7,845 $ 8,468 Deferred revenue $ 5,740 $ 1,202 Total contract liabilities $ 5,740 $ 1,202
Summary of Accounts Receivable Balances by Reportable Segments	The following tables illustrate accounts receivable balances by reportable segments. March 31, 2018 (In Thousands) Oncology Innovation Platform Global Supply Chain Platform Commercial Platform Consolidated Total Accounts receivable, gross $ 19 $ 3,320 $ 7,057 $ 10,397 Allowance for doubtful accounts, chargebacks, and other deductions — (73 ) (2,479 ) (2,552 ) Accounts receivable, net $ 19 $ 3,247 $ 4,578 $ 7,845 December 31, 2017 (In Thousands) Oncology Innovation Platform Global Supply Chain Platform Commercial Platform Consolidated Total Accounts receivable, gross $ 49 $ 4,553 $ 7,661 $ 12,263 Allowance for doubtful accounts, chargebacks, and other deductions — (84 ) (3,711 ) (3,795 ) Accounts receivable, net $ 49 $ 4,469 $ 3,950 $ 8,468

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments Under Non-Cancelable Leases	Future minimum payments under the non-cancelable operating leases consisted of the following as of March 31, 2018 (in thousands): Year ending December 31: Minimum payments 2018 (remaining nine months) $ 1,678 2019 2,383 2020 2,247 2021 1,844 2022 1,802 Thereafter 4,671 $ 14,625

Company and Nature of Business

Company and Nature of Business - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended				3 Months Ended
	Feb. 28, 2018	Jan. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2018	Dec. 31, 2017
Subsidiary Or Equity Method Investee [Line Items]
Accumulated deficit					$ 333,574	$ 326,276
Common stock, shares issued					64,948,849	59,894,362
Convertible Bonds
Subsidiary Or Equity Method Investee [Line Items]
Convertible bonds, aggregate principal value			$ 7,000	$ 68,000
Convertible bonds, carrying value				55,800
Common stock discount rate			20.00%
Common Stock
Subsidiary Or Equity Method Investee [Line Items]
Aggregate cash proceeds net of underwriting discounts and commissions and offering costs				64,200
Underwriting discounts and commissions				6,100
Offering costs				$ 5,600
Number of shares issued and sold					4,765,000
Common Stock | Convertible Bonds
Subsidiary Or Equity Method Investee [Line Items]
Shares issued upon conversion			795,455	7,727,273
IPO
Subsidiary Or Equity Method Investee [Line Items]
Common stock, shares issued				6,900,000
Common stock share price		$ 15.25
Number of shares issued and sold		4,300,000
IPO | Common Stock
Subsidiary Or Equity Method Investee [Line Items]
Common stock share price				$ 11
Underwriters
Subsidiary Or Equity Method Investee [Line Items]
Common stock share price	$ 15.25
Number of days granted to underwriters option to purchase additional shares		30 days
Number of additional common stock shares purchase	465,000	645,000
Net proceeds from stock issuance	$ 68,100
Underwriting discounts and commissions and offering expenses	$ 4,600

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials and purchased parts	$ 2,275	$ 1,471
Work in progress	2,830	1,877
Finished goods	13,466	13,213
Total inventories	$ 18,571	$ 16,561

Intangible Assets, Net - Summar

Intangible Assets, Net - Summary of Identifiable Intangible Asset, Net (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible asset, Accumulated Amortization	$ 3,168	$ 2,742
Intangible asset, Effect of currency translation adjustment	(67)	(197)
Intangible assets Cost/Fair Value	11,444	11,394
Intangible assets Impairments		80
Intangible assets, net	8,276	8,572
CDE In- Process Research and Development
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Indefinite-lived intangible asset, Cost/Fair Value	1,026	1,106
Indefinite-lived intangible asset, Impairments		80
Indefinite-lived intangible asset, Net	1,026	1,026
Licensing Agreements
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible asset, Cost/Fair Value	4,650	4,650
Finite-lived intangible asset, Accumulated Amortization	1,393	1,173
Finite-lived intangible asset, Net	3,257	3,477
Polymed Customer List
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible asset, Cost/Fair Value	1,593	1,593
Finite-lived intangible asset, Accumulated Amortization	744	675
Finite-lived intangible asset, Net	849	918
Polymed Technology
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible asset, Cost/Fair Value	3,712	3,712
Finite-lived intangible asset, Accumulated Amortization	865	762
Finite-lived intangible asset, Net	2,847	2,950
Product Rights
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible asset, Cost/Fair Value	530	530
Finite-lived intangible asset, Accumulated Amortization	166	132
Finite-lived intangible asset, Net	$ 364	$ 398

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Finite Lived Intangible Assets [Line Items]
Intangible assets Impairments			$ 80
Weighted-average useful life of intangible assets	8 years 2 months 26 days
Amortization expense of intangible assets	$ 400	$ 400
Research and Development Expenses
Finite Lived Intangible Assets [Line Items]
Intangible assets Impairments	0	$ 100
Licensing Agreements | Hanmi Pharmaceuticals Co. Ltd.
Finite Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 400
Acquired finite-lived intangible assets, amortization period	12 years 9 months
Licensing Agreements | Gland Pharma Limited
Finite Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 4,300
Customer List | Athenex Pharma Solutions
Finite Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, amortization period	7 years
Customer List | Polymed
Finite Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, amortization period	6 years
Polymed Technology | Polymed
Finite Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, amortization period	12 years

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value assets, Level 1 to Level 2 transfers	$ 0	$ 0
Fair value assets, Level 2 to Level 1 transfers	0	0
Fair value liabilities, Level 1 to Level 2 transfers	0	0
Fair value liabilities, Level 2 to Level 1 transfers	0	0
Fair value assets, transfers into Level 3	0	0
Fair value assets, transfers out of Level 3	0	0
Fair value liabilities, transfers into Level 3	0	0
Fair value liabilities, transfers out of Level 3	$ 0	$ 0
Pharma Essentia | OTC | Taiwan | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of shares owned by company	68,000	68,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets:
Total assets	$ 96,031	$ 36,944
Money Market Funds
Assets:
Total assets	8,030	13,804
Short-term Investments - Commercial Paper
Assets:
Total assets	25,314	14,982
Short-term Investments - Corporate Notes
Assets:
Total assets	18,958	2,824
Short-term investments - U.S. Government Bonds
Assets:
Total assets	43,318	5,006
Investment
Assets:
Total assets	411	328
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total assets	8,441	14,132
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money Market Funds
Assets:
Total assets	8,030	13,804
Quoted Prices in Active Markets for Identical Assets (Level 1) | Investment
Assets:
Total assets	411	328
Significant Other Observable Inputs (Level 2)
Assets:
Total assets	87,590	22,812
Significant Other Observable Inputs (Level 2) | Short-term Investments - Commercial Paper
Assets:
Total assets	25,314	14,982
Significant Other Observable Inputs (Level 2) | Short-term Investments - Corporate Notes
Assets:
Total assets	18,958	2,824
Significant Other Observable Inputs (Level 2) | Short-term investments - U.S. Government Bonds
Assets:
Total assets	$ 43,318	$ 5,006

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax [Line Items]
Income tax benefit	$ (307,000)	$ (92,000)
Federal Income Tax [Member]
Income Tax [Line Items]
Income tax benefit	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018USD ($)ExecutiveRelatedPartyshares	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)shares	Jun. 30, 2017shares
Convertible Bonds
Related Party Transaction [Line Items]
Amounts owed to related party		$ 4,000,000	$ 4,000,000
Number of related parties received convertible bonds | RelatedParty	2
Bonds converted into shares of common stock | shares				2,727,273
Avalon BioMedical
Related Party Transaction [Line Items]
Common stock shares held by related parties | shares	678,880		678,880
Percentage of common stock issued shares	1.00%
Pharma Essentia
Related Party Transaction [Line Items]
Licenses revenue	$ 100,000	500,000
Executive Officer
Related Party Transaction [Line Items]
Number of executives | Executive	1
ZenRx
Related Party Transaction [Line Items]
Licenses revenue	$ 0	0
Amounts owed to related party	100,000
ZenRx | Clinical Development Services
Related Party Transaction [Line Items]
Payments to related party for services received	100,000	0
RSJ Consulting LLC
Related Party Transaction [Line Items]
Consulting services incurred	$ 0	$ 100,000

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 2,701	$ 2,145
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	2,161	1,605
Unrecognized compensation cost related to non-vested stock options expected to be recognized	$ 19,500	$ 9,200
Unrecognized compensation expense related to non-vested stock options, weighted-average period of recognition	1 year 9 months 18 days	1 year 4 months 24 days
Total intrinsic value of stock options exercised	$ 3,400	$ 100
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 540	$ 540
Restricted shares vested	0
Restricted shares remain unvested	240,000
2013, 2007 and 2004 Plans | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock options authorized grant	11,800,000
2017 Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	5,200,000
Shares issued	0
2017 Plans | IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	1,000,000

Stock Based Compensation - Sche

Stock Based Compensation - Schedule of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Stock Options
Stock Options, Outstanding Beginning Balance	10,176,643
Stock Options, Granted	760,900
Stock Options, Exercised	(289,487)
Stock Options, Forfeited and expired	(10,170)
Stock Options, Outstanding Ending Balance	10,637,886	10,176,643
Stock Options, Vested and exercisable	6,657,501
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 7.19
Weighted Average Exercise Price, Granted	17.25
Weighted Average Exercise Price, Exercised	4.69
Weighted Average Exercise Price, Forfeited and expired	11.06
Weighted Average Exercise Price, Outstanding Ending Balance	7.98	$ 7.19
Weighted Average Exercise Price, Vested and exercisable	$ 5.96
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term, Outstanding	6 years 10 months 28 days	6 years 9 months 29 days
Weighted Average Remaining Contractual Term, Vested and exercisable	5 years 10 months 10 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding	$ 96,103	$ 88,615
Aggregate Intrinsic Value, Vested and exercisable	$ 73,552

Stock Based Compensation - Sc39

Stock Based Compensation - Schedule of Weighted Average Assumptions Used as Inputs to Black-Scholes Option Pricing Model (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Weighted average grant date fair value	$ 9.43	$ 6.45
Expected dividend yield	0.00%	0.00%
Expected stock price volatility	59.00%	65.00%
Risk-free interest rate	2.57%	1.94%
Expected life of options (in years)	5 years 7 months 6 days	6 years 3 months 19 days

Stock Based Compensation - Sc40

Stock Based Compensation - Schedule of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized	$ 2,701	$ 2,145
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized	2,161	1,605
Restricted Stock Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized	540	540
Cost of Product Sales
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized	44	22
Research and Development Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized	513	462
Selling, General, and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized	$ 2,144	$ 1,661

Net Loss per Share Attributab41

Net Loss per Share Attributable to Athenex, Inc. Common Stockholders - Schedule Outstanding Shares of Common Stock Equivalents Excluded from the Calculation of Diluted Net Loss Per Share (Detail) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive common shares	10,171,020	10,253,821
Stock Options and Other Common Stock Equivalents
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive common shares	9,931,020	9,591,839
Unvested Restricted Common Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive common shares	240,000	661,982

Business Segment, Geographic,42

Business Segment, Geographic, and Concentration Risk Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Segment
Segment Reporting Information [Line Items]
Number of operating segments	3
Segments Deriving Revenue
Segment Reporting Information [Line Items]
Number of reportable segments	2

Business Segment, Geographic,43

Business Segment, Geographic, and Concentration Risk Information - Summary of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net (loss) income attributable to Athenex, Inc.:
Total consolidated net loss attributable to Athenex, Inc.	$ (7,298)	$ (40,988)
Oncology Innovation Platform
Net (loss) income attributable to Athenex, Inc.:
Total consolidated net loss attributable to Athenex, Inc.	1,509	(28,259)
Global Supply Chain Platform
Net (loss) income attributable to Athenex, Inc.:
Total consolidated net loss attributable to Athenex, Inc.	(6,569)	(1,148)
Commercial Platform
Net (loss) income attributable to Athenex, Inc.:
Total consolidated net loss attributable to Athenex, Inc.	$ (2,238)	$ (11,581)

Business Segment, Geographic,44

Business Segment, Geographic, and Concentration Risk Information - Summary of Revenue by Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Total revenue:
Total consolidated revenue	$ 37,836	$ 4,581
Operating Segments
Total revenue:
Total consolidated revenue	39,052	7,106
Operating Segments | Oncology Innovation Platform
Total revenue:
Total consolidated revenue	25,231	733
Operating Segments | Global Supply Chain Platform
Total revenue:
Total consolidated revenue	5,127	6,296
Operating Segments | Commercial Platform
Total revenue:
Total consolidated revenue	8,694	77
Intersegment Eliminations
Total revenue:
Total consolidated revenue	$ (1,216)	$ (2,525)

Business Segment, Geographic,45

Business Segment, Geographic, and Concentration Risk Information - Summary of Revenue by Product Group (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Total revenue by product group:
Total consolidated revenue	$ 37,836	$ 4,581
API Sales
Total revenue by product group:
Total consolidated revenue	2,642	3,000
Medical Device Sales
Total revenue by product group:
Total consolidated revenue	585	335
Contract Manufacturing Revenue
Total revenue by product group:
Total consolidated revenue	241	437
Commercial Product Sales
Total revenue by product group:
Total consolidated revenue	9,137	128
License Fees and Consulting Revenue
Total revenue by product group:
Total consolidated revenue	25,091	598
Grant Revenue
Total revenue by product group:
Total consolidated revenue	$ 140	$ 83

Business Segment, Geographic,46

Business Segment, Geographic, and Concentration Risk Information - Summary of Depreciation, Amortization and Assets by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Total depreciation and amortization:
Total consolidated depreciation and amortization	$ 868	$ 816
Total assets:
Total consolidated assets	197,533		$ 140,413
Oncology Innovation Platform
Total depreciation and amortization:
Total consolidated depreciation and amortization	156	92
Total assets:
Total consolidated assets	123,648		65,966
Global Supply Chain Platform
Total depreciation and amortization:
Total consolidated depreciation and amortization	467	526
Total assets:
Total consolidated assets	50,726		51,128
Commercial Platform
Total depreciation and amortization:
Total consolidated depreciation and amortization	245	$ 198
Total assets:
Total consolidated assets	$ 23,159		$ 23,319

Business Segment, Geographic,47

Business Segment, Geographic, and Concentration Risk Information - Summary of Revenue by Geographical Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Total revenue:
Total consolidated revenue	$ 37,836	$ 4,581
United States
Total revenue:
Total consolidated revenue	9,901	713
Spain
Total revenue:
Total consolidated revenue	25,000
India
Total revenue:
Total consolidated revenue	962	1,471
Austria
Total revenue:
Total consolidated revenue	1,243	1,002
China
Total revenue:
Total consolidated revenue	648	312
Taiwan
Total revenue:
Total consolidated revenue		500
Other Foreign Countries
Total revenue:
Total consolidated revenue	$ 82	$ 583

Business Segment, Geographic,48

Business Segment, Geographic, and Concentration Risk Information - Summary of Property and Equipment by Geographical Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Total property and equipment, net:
Total consolidated property and equipment, net	$ 10,368	$ 9,651
United States
Total property and equipment, net:
Total consolidated property and equipment, net	5,612	5,305
China
Total property and equipment, net:
Total consolidated property and equipment, net	$ 4,756	$ 4,346

Business Segment, Geographic,49

Business Segment, Geographic, and Concentration Risk Information - Summary of Customer Revenue and Accounts Receivable Concentration (Detail) - Commercial Platform and Global Supply Chain - Customer Concentration Risk	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Customer Revenue | Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	3.00%	28.00%
Customer Revenue | Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	3.00%	22.00%
Customer Revenue | Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Customer Revenue | Customer D
Concentration Risk [Line Items]
Concentration risk, percentage	66.00%
Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	7.00%		26.00%
Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	14.00%		18.00%
Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	22.00%		13.00%
Accounts Receivable | Customer D
Concentration Risk [Line Items]
Concentration risk, percentage			10.00%
Accounts Receivable | Customer E
Concentration Risk [Line Items]
Concentration risk, percentage	33.00%

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Revenue Recognition Milestone Method [Line Items]
Total chargeback	$ 2,552,000		$ 3,795,000
Revenue recognition cash discount percentage	2.00%
General settlement period for rebates and fees	Settlement of rebates and fees may generally occur from one to five months from date of sale.
Deferred revenue	$ 5,740,000		1,202,000
Upfront license payment received	30,000,000
Total contract liabilities	5,740,000		1,202,000
License fees and consulting revenue	25,091,000	$ 598,000
Transferred at a Point in Time
Revenue Recognition Milestone Method [Line Items]
Revenue recognized on behalf of milestone event		500,000
Out-license Revenue
Revenue Recognition Milestone Method [Line Items]
Deferred revenue	5,000,000
Execution and Delivery of License
Revenue Recognition Milestone Method [Line Items]
Performance obligation	25,000,000
Contract with customer, revenue recognized	25,000,000
Delivery Of Certain Clinical Data For Licensed IP
Revenue Recognition Milestone Method [Line Items]
Performance obligation	5,000,000
IP License | Transferred at a Point in Time
Revenue Recognition Milestone Method [Line Items]
License fees and consulting revenue	25,000,000	0
Performance Obligation
Revenue Recognition Milestone Method [Line Items]
Upfront license payment received	5,000,000
Commercial Platform
Revenue Recognition Milestone Method [Line Items]
Total chargeback	2,479,000		3,711,000
Chargeback expense	5,000,000	$ 100,000
Performance obligation	0
Sales subject to transaction price judgments	8,700,000
Global Supply Chain Platform
Revenue Recognition Milestone Method [Line Items]
Total chargeback	73,000		84,000
Global Supply Chain Platform | Customer Deposit
Revenue Recognition Milestone Method [Line Items]
Deferred revenue	$ 700,000
Total contract liabilities			$ 1,200,000

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Company's Revenue for Reportable Segment by Country Based on Locations of Customer (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	$ 37,836	$ 4,581
Oncology Innovation Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	25,231	733
Global Supply Chain Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	3,911	3,771
Commercial Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	8,694	77
United States
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	9,901	713
United States | Global Supply Chain Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	1,208	636
United States | Commercial Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	8,694	77
India
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	962	1,471
India | Global Supply Chain Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	962	1,471
Austria
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	1,243	1,002
Austria | Global Supply Chain Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	1,243	1,002
China
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	648	312
China | Oncology Innovation Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	231	233
China | Global Supply Chain Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	417	79
Spain
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	25,000
Spain | Oncology Innovation Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	25,000
Taiwan
Disaggregation Of Revenue [Line Items]
Total consolidated revenue		500
Taiwan | Oncology Innovation Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue		500
Other Foreign Countries
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	82	583
Other Foreign Countries | Global Supply Chain Platform | Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Total consolidated revenue	$ 82	$ 583

Revenue Recognition - Summary o

Revenue Recognition - Summary of Receivables and Contract Liabilities From Contracts with Customers (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Change In Contract With Customer Liability [Abstract]
Accounts receivable, gross	$ 10,397	$ 12,263
Allowance for doubtful accounts, chargebacks, and other deductions	(2,552)	(3,795)
Accounts receivable, net	7,845	8,468
Deferred revenue	5,740	1,202
Total contract liabilities	$ 5,740	$ 1,202

Revenue Recognition - Summary53

Revenue Recognition - Summary of Accounts Receivable Balances by Reportable Segments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts Receivable Balances By Reportable Segments [Line Items]
Accounts receivable, gross	$ 10,397	$ 12,263
Allowance for doubtful accounts, chargebacks, and other deductions	(2,552)	(3,795)
Accounts receivable, net	7,845	8,468
Oncology Innovation Platform
Accounts Receivable Balances By Reportable Segments [Line Items]
Accounts receivable, gross	19	49
Accounts receivable, net	19	49
Global Supply Chain Platform
Accounts Receivable Balances By Reportable Segments [Line Items]
Accounts receivable, gross	3,320	4,553
Allowance for doubtful accounts, chargebacks, and other deductions	(73)	(84)
Accounts receivable, net	3,247	4,469
Commercial Platform
Accounts Receivable Balances By Reportable Segments [Line Items]
Accounts receivable, gross	7,057	7,661
Allowance for doubtful accounts, chargebacks, and other deductions	(2,479)	(3,711)
Accounts receivable, net	$ 4,578	$ 3,950

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Leases (Detail) $ in Thousands	Mar. 31, 2018USD ($)
Commitments And Contingencies Disclosure [Abstract]
2018 (remaining nine months)	$ 1,678
2,019	2,383
2,020	2,247
2,021	1,844
2,022	1,802
Thereafter	4,671
Future minimum payments under non-cancelable leases	$ 14,625