Athenex, Inc., along with its five affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas on May 14, 2023. The debtor listed both its assets and liabilities in the range of $100 million to $500 million. The debtor is represented by Benjamin Lawrence Wallen and Michael D Warner of Pachulski Stang Ziehl & Jones LLP as its legal counsels.

The debtor also hired Meru, LLC as its financial advisory and transaction advisory and Nicholas Campbell of Meru as its chief restructuring officer. Epiq Corporate Restructuring, LLC is acting as claims, noticing, and solicitation agent and administrative advisor.