Welcome to our dedicated page for Fennec Pharmaceuticals news (Ticker: FENC), a resource for investors and traders seeking the latest updates and insights on Fennec Pharmaceuticals stock.
Fennec Pharmaceuticals Inc. (NASDAQ: FENC) is a commercial-stage biopharmaceutical company dedicated to developing innovative therapies for the treatment of cancer. Based in Research Triangle Park, North Carolina, Fennec Pharmaceuticals has a significant focus on addressing unmet medical needs in pediatric oncology.
The company’s lead product, PEDMARK, is a novel formulation of sodium thiosulfate designed to prevent cisplatin-induced hearing loss (ototoxicity) in children. Cisplatin is a chemotherapy drug that, while effective, can cause irreversible hearing damage in pediatric patients. PEDMARK has successfully completed Phase III clinical trials and received FDA approval, making it the first and only therapy indicated to reduce the risk of ototoxicity in pediatric patients aged 1 month and older with localized, non-metastatic solid tumors.
Fennec Pharmaceuticals was originally founded as Adherex Technologies Inc. in 1996 and underwent a name change to its current identity in September 2014. The company has recently announced a series of significant developments, including:
- Hosting quarterly conference calls to discuss financial results and business outlooks.
- Entering an exclusive licensing agreement with Norgine to commercialize PEDMARQSI® (the European branding of PEDMARK) in Europe, Australia, and New Zealand. Under this partnership, Fennec will receive up to €250 million in milestone payments and royalties.
- Receiving EU marketing authorization for PEDMARQSI in June 2023 and UK approval in October 2023.
These strategic moves demonstrate Fennec's commitment to expanding its reach and impact in the global market. The company continues to work diligently to ensure that its life-saving therapies are accessible to as many patients as possible. The operational and financial strength of Fennec Pharmaceuticals, coupled with its pioneering product, positions the company as a significant player in the biopharmaceutical industry.
For the latest updates, investors and stakeholders can access conference call information, news releases, and financial reports on the company’s website. Fennec's investor relations team, led by CFO Robert Andrade, is available for any inquiries.
Fennec Pharmaceuticals (NASDAQ:FENC) announced that PEDMARQSI® has received a positive recommendation from NICE for use in England and Wales. The drug is the first and only treatment available within NHS for preventing cisplatin-induced hearing loss in children and young people aged 1 month to 17 years.
Two Phase 3 trials demonstrated approximately 50% reduction in cisplatin-induced ototoxicity compared to cisplatin alone. This addresses a significant unmet need as there were no previous preventative treatments available.
The announcement follows Fennec's March 2024 licensing agreement with Norgine Pharmaceuticals for commercialization in Europe, Australia, and New Zealand. The deal included a $43 million upfront payment and potential additional payments up to $230 million, plus double-digit tiered royalties starting in mid-teens.
Fennec Pharmaceuticals (NASDAQ:FENC) announced the early repayment of $13 million of its approximately $32 million outstanding convertible debt facility with Petrichor Healthcare Capital Management. This repayment, funded entirely with available cash, reduces the convertible debt to approximately $19 million with maturity in September 2027.
The strategic move will eliminate approximately $1.5 million in annual interest expense and remove the potential equity overhang of approximately 1.6 million shares. The company confirms its cash position remains sufficient to fund planned operations into 2026.
Fennec Pharmaceuticals (NASDAQ: FENC; TSX: FRX) has announced its participation in the upcoming virtual H.C. Wainwright @ Home Fireside Chat Series. The event is scheduled for Monday, December 16, 2024, at 11:00 a.m. ET. The commercial stage specialty pharmaceutical company will provide a live webcast of the presentation, which will be accessible through their investor relations website. An archived version of the webcast will be made available on the company's website following the event for those unable to attend the live presentation.
Fennec Pharmaceuticals (NASDAQ: FENC; TSX: FRX) has announced its participation in the 15th Annual Craig-Hallum Alpha Select Conference. The event will take place on November 19, 2024, at the Sheraton New York Times Square Hotel in New York City. The company's management team will be available for one-on-one meetings throughout the conference. Fennec Pharmaceuticals, a commercial stage specialty pharmaceutical company, will use this platform to engage with investors and present their business updates.
Fennec Pharmaceuticals (NASDAQ:FENC) reported Q3 2024 net product sales of $7.0 million, up from $6.5 million in Q3 2023. The company achieved over 90% reimbursement for PEDMARK in the AYA population. Despite increased sales, the company recorded a net loss of $5.7 million ($0.21 per share) compared to $1.9 million loss in Q3 2023. Operating expenses increased to $12.2 million from $7.5 million year-over-year. The company maintains a strong cash position of $40.3 million, expected to fund operations into at least 2026.
Fennec Pharmaceuticals (NASDAQ: FENC; TSX: FRX), a commercial stage specialty pharmaceutical company, has scheduled its third quarter 2024 financial results release for Thursday, November 7, 2024, before U.S. markets open. The company will host a conference call and webcast at 8:30 a.m. Eastern Time to discuss financial and business results. Interested parties can register for the conference call through a provided link, which will supply a dial-in number and unique PIN. A webcast replay will be available on the company's website for thirty days following the call.
Fennec Pharmaceuticals (NASDAQ: FENC) announced three key executive appointments to strengthen its leadership team. Pierre S. Sayad joins as Chief Medical Officer, bringing 22 years of experience and involvement in launching nine novel drugs. Terry Evans becomes Chief Commercial Officer with over 25 years of pharmaceutical industry experience. Christiana Cioffi assumes the role of Chief Strategy Officer, contributing 20 years of expertise in strategy and marketing, particularly in oncology and rare diseases. These appointments aim to accelerate the commercialization of PEDMARK, the company's FDA-approved therapy for reducing ototoxicity risk in pediatric patients receiving cisplatin treatment.
Fennec Pharmaceuticals (NASDAQ:FENC; TSX: FRX), a commercial stage specialty pharmaceutical company, has announced its participation in two upcoming investor conferences. The company will be presenting at the H.C. Wainwright Global Investment Conference on September 11, 2024, from 12:00 p.m. to 12:30 p.m. ET in New York City. Additionally, Fennec will participate in a fireside chat at the Cantor Fitzgerald Global Healthcare Conference on September 19, 2024, from 8:35 a.m. to 9:05 a.m. ET, also in New York City.
The management team will be available for one-on-one investor meetings at both conferences. Investors can find additional information about these events on the company's website in the investor relations section.
Fennec Pharmaceuticals (NASDAQ:FENC; TSX: FRX) reported Q2 2024 financial results and provided a business update. Key highlights include:
- Total net revenues of $7.3 million for Q2 2024
- Appointment of Jeffrey S. Hackman as new CEO and Board member
- Cash position of approximately $43 million
- Net loss of $5.6 million ($0.20 per share)
- Selling and marketing expenses increased to $4.7 million
- General and administrative expenses rose to $6.9 million
The company is focusing on expanding its outreach to community oncology centers and the adolescent and young adult (AYA) population. The NCCN AYA Guidelines were updated, removing 'pediatric' specific wording, potentially broadening PEDMARK's patient population.
Fennec Pharmaceuticals Inc. (NASDAQ: FENC; TSX: FRX), a commercial stage specialty pharmaceutical company, has announced it will release its second quarter 2024 financial results and provide a business update on Tuesday, August 13, 2024, before the opening of U.S. financial markets. The company will host a conference call and webcast at 8:30 a.m. Eastern Time on the same day to discuss the results.
Interested parties can register for the conference call using a provided link, which will supply a dial-in number and unique PIN. A live webcast will also be available on the company's website. Additionally, Fennec has announced its participation in the 2024 Wedbush PacGrow Healthcare Conference, taking place August 13-14, 2024, in New York, NY.
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