Fennec Pharmaceuticals Reports Third Quarter 2026 Financial Results and Provides Business Update

Higher product sales and lower administrative expenses accompanied a return to quarterly profitability, despite increased commercial spending.

Rhea-AI Summary

Fennec Pharmaceuticals (NASDAQ: FENC) reported third-quarter 2026 net product sales of $19.4 million, up 56% from a year earlier. Net income was $4.640 million, or $0.12 per diluted share, versus a $638,000 loss, or $0.02 per share. Non-GAAP adjusted EBITDA rose to $5.826 million from $2.030 million.

Operating cash flow was positive $6.7 million, and cash reached $48.7 million, versus $41.2 million at June 30, 2026. Selling and marketing expenses increased to $10.050 million from $6.513 million, while general and administrative expenses fell to $3.912 million from $5.449 million. Program enrollments rose 23% and completed infusions rose 58% from the second quarter. Fennec expects commercial-team productivity to increase through the fourth quarter and into 2027. Nine-month net income reached $6.814 million, versus a $4.954 million loss.

23 points · 0 major

PositiveiHow this balance works

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0 major · 9 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointThird-quarter net product sales rose 56% year over year to $19.4 million.
• Moderate pointThird-quarter net income reached $4.640 million, versus a $638,000 loss a year earlier.
• Moderate pointThird-quarter operating income reached $4.654 million, versus a $189,000 loss a year earlier.
• Moderate pointThird-quarter non-GAAP adjusted EBITDA increased to $5.826 million from $2.030 million a year earlier.
• Moderate pointThird-quarter operating cash flow was positive $6.7 million.
• Moderate pointCash reached $48.7 million at September 30, 2026, versus $41.2 million at June 30, 2026.
• Moderate pointThird-quarter administrative expenses fell to $3.912 million from $5.449 million a year earlier.
• Moderate pointProgram enrollments increased 23% over the second quarter of 2026.
• Moderate pointCompleted infusions increased 58% over the second quarter of 2026.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Fennec expects available funds plus projected PEDMARK revenues to fund its current operating plan.

13 minor points

• Minor pointThird-quarter diluted earnings were $0.12 per share, versus a $0.02 loss a year earlier.
• Minor pointThird-quarter interest expense fell to $1,000 from $586,000 a year earlier.
• Minor pointThird-quarter interest income increased to $319,000 from $152,000 a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fennec expects commercial-team productivity to increase through fourth-quarter 2026 and into 2027.
• Minor pointFennec reported hearing protection in the Japanese Phase 2 STS-J01 trial evaluating PEDMARK.
• Minor pointNine-month net product sales increased to $51.697 million from $30.865 million a year earlier.
• Minor pointNine-month operating income reached $6.272 million, versus a $3.728 million loss a year earlier.
• Minor pointNine-month net income reached $6.814 million, versus a $4.954 million loss a year earlier.
• Minor pointNine-month diluted earnings reached $0.19 per share, versus a $0.18 loss a year earlier.
• Minor pointNine-month non-GAAP adjusted EBITDA increased to $9.498 million from $783,000 a year earlier.
• Minor pointNine-month administrative expenses fell to $11.737 million from $19.853 million a year earlier.
• Minor pointNine-month interest expense fell to $11,000 from $1.772 million a year earlier.
• Minor pointNine-month interest income increased to $945,000 from $559,000 a year earlier.

Negative

• Moderate pointThird-quarter selling and marketing expenses rose to $10.050 million from $6.513 million a year earlier.
• Minor pointThird-quarter product sales costs increased to $838,000 from $660,000 a year earlier.
• Minor pointThird-quarter research and development expenses rose to $154,000 from $29,000 a year earlier.
• Minor pointThird-quarter income tax expense was $332,000, versus none a year earlier.
• Minor pointNine-month selling and marketing expenses rose to $32.131 million from $12.510 million a year earlier.

4 minor points

• Minor pointNine-month product sales costs increased to $2.129 million from $2.000 million a year earlier.
• Minor pointNine-month research and development expenses rose to $321,000 from $230,000 a year earlier.
• Minor pointNine-month income tax expense was $374,000, versus none a year earlier.
• Minor pointCommon shares outstanding increased to 35.215 million at September 30, 2026, from 34.163 million at year-end 2025.

News Explained

The balance sheet lists 35,215 thousand common shares outstanding at September 30, 2026, versus 34,163 thousand at December 31, 2025. With a holder’s share count unchanged, the higher total means that holding represents a smaller fraction of the company.

Key Figures

Net product sales: $19.4 million vs. $12.5 million Adjusted EBITDA: $5.8 million vs. $2.0 million Net income: $4.640 million vs. a $0.638 million net loss +2 more

Net product sales

$19.4 million vs. $12.5 million

Q3 2026 vs. Q3 2025

Adjusted EBITDA

$5.8 million vs. $2.0 million

Q3 2026 vs. Q3 2025; non-GAAP

Net income

$4.640 million vs. a $0.638 million net loss

Three months ended September 30, 2026 vs. 2025

Cash flow from operations

$6.7 million positive

Third quarter 2026

Cash and cash equivalents

$48.7 million vs. $41.2 million

September 30, 2026 vs. June 30, 2026

Previous Earnings Reports

2 past events · Latest: Aug 11

Same Type 2 events

1. Aug 11

   Q2 earnings report

   24h Move

   +16.8%

   PEDMARK sales and adjusted EBITDA increased year over year; cash and equivalents were $41.2 million.

2. Nov 13

   Q3 earnings report

   24h Move

   +2.2%

   Net product sales grew year over year, and the company reported its first positive operating cash flow.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ebitda, asc 606, ototoxicity, glomerular filtration rate

4 terms

ebitda financial

"Third Quarter 2026 Non-GAAP Adjusted EBITDA of $5.8 Million"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

asc 606 financial

"Under ASC 606, a portion of the upfront consideration received under this agreement"

A U.S. accounting standard that sets consistent rules for when and how companies record revenue from contracts with customers, focusing on the transfer of promised goods or services. It matters to investors because it affects the timing and amount of reported sales and profit—like deciding whether a contractor can count payment when a job starts, progresses, or finishes—so it improves comparability and helps assess a company's true economic performance.

ototoxicity medical

"permanent, irreversible hearing loss, also known as ototoxicity"

Ototoxicity is damage to the inner ear caused by certain drugs or chemicals that can impair hearing and balance, ranging from temporary ringing to permanent hearing loss. Investors should care because ototoxic effects can limit a medical product’s marketability, trigger stricter safety testing, slow approvals, increase legal and treatment costs, and hurt sales—similar to a car defect that makes a model unsafe and forces recalls or redesigns.

glomerular filtration rate medical

"if the glomerular filtration rate (GFR) falls below 60 mL/min/1.73m2"

Glomerular filtration rate (GFR) measures how well the kidneys filter waste from blood, expressed as the volume of blood cleared per minute; think of it like the flow rate through a coffee filter that tells you how quickly liquid is being cleaned. Investors care because GFR is a key clinical metric used to gauge patient health, determine drug dosing, qualify participants for trials, and influence regulatory decisions and market size for treatments related to kidney function.

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~ Third Quarter 2026 Net Product Sales of $19.4 Million, Up 56% Year over Year ~

~ Third Quarter 2026 Non-GAAP Adjusted EBITDA of $5.8 Million ~

~ With $6.7 Million in Positive Cash Flow from Operations, Cash Position in the Third Quarter 2026 Grew to $48.7 Million ~

~ Record Number of Patients and Planned Infusions Carried into the Fourth Quarter 2026 ~

~ Management to Host Conference Call Today at 8:30 a.m. ET ~

RESEARCH TRIANGLE PARK, N.C., Nov. 12, 2026 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC; TSX: FRX), a specialty pharmaceutical company, today reported its financial results for the third quarter ended September 30, 2026 and provided a business update.

“Given the significant increase in demand that we are seeing quarter over quarter in 2026, we firmly believe in the sustainable growth potential of PEDMARK^®. We are driving this forward through strong commercial execution, investment in evidence generation to support its use, and operational enhancements that will continue to improve the overall patient and healthcare professional experience,” said Jeff Hackman, chief executive officer of Fennec Pharmaceuticals. “Additionally, with net revenue, adjusted EBITDA, and our cash position reaching record highs this quarter, we will continue to be disciplined in our capital deployment as we move through the fourth quarter and look ahead to 2027.”

Business Highlights:

• Continued Commercial Momentum Within Key PEDMARK^® Accounts: The second full quarter following the significant expansion of our commercial organization contributed to another sequential quarter of demand growth, with total program enrollments up 23% and completed infusions up 58% over the second quarter of 2026. As the field team is now operating with greater reach and frequency to engage healthcare providers, Fennec expects that the productivity curve will continue to increase through the fourth quarter of 2026 and into 2027.
  
  
• 58^th Annual International Society of Pediatric Oncology (SIOP) Annual Meeting: Detailed results from the investigator-initiated Phase 2 STS-J01 clinical trial evaluating PEDMARK^® for the reduction of cisplatin-induced ototoxicity in pediatric and adolescent and young adult (AYA) patients with non-metastatic solid tumors in Japan were featured in an oral presentation at SIOP 2026. These data demonstrated significant hearing protection and provide reassuring clinical context regarding antitumor activity with delayed PEDMARK^® administration. Full results from the study will be submitted for peer-reviewed publication.
  
  

Upcoming Events:

• 17th Annual Craig-Hallum Alpha Select Conference: The management team will host one-on-one investor meetings at the 17th Annual Craig-Hallum Alpha Select Conference, which will be held on Tuesday, November 17, 2026 at the Sheraton New York Times Square Hotel in New York City.
  
  
• Piper Sandler 38th Annual Healthcare Conference: The management team will participate in a fireside chat on Thursday, December 3, 10:30 – 10:55 a.m. ET, at the conference and will host one-on-one investor meetings, which will be held at the Lotte New York Palace and will be available via webcast.
  
  

Financial Results for the Third Quarter Ended September 30, 2026:

• Net Product Sales – For the third quarter of 2026, the Company recorded net product sales of approximately $19.4 million compared to $12.5 million in the third quarter of 2025. The increase in sales is attributable to growth across PEDMARK^® accounts including new accounts in the AYA population.
  
  
• Selling and Marketing Expenses – The Company recorded $10.1 million in selling and marketing expenses in the third quarter of 2026 compared to $6.5 million in the third quarter of 2025. The increase is largely related to the higher costs associated with the commercialization and increased awareness initiatives of PEDMARK^® and related expenses to support the expansion of our sales organization.
  
• General and Administrative (G&A) Expenses – The Company recorded $3.9 million in general and administrative expenses in the third quarter of 2026 compared to $5.4 million in the third quarter of 2025. The decrease in general and administrative expenses for the three-month comparable periods due to lower legal and professional fees as select litigation activities concluded.

• Non-GAAP Adjusted EBITDA – The Company recorded $5.8 million in non-GAAP adjusted EBITDA in the third quarter of 2026 compared to non-GAAP adjusted EBITDA of $2.0 million for the same period in the prior year. A table reconciling non-GAAP measures is included in this press release for reference.
  
  
• Cash Position – Cash and cash equivalents were $48.7 million as of September 30, 2026 compared to $41.2 million as of June 30 2026. We anticipate that our cash, cash equivalents and investment securities as of September 30, 2026, combined with the projected revenues from PEDMARK^®, will be sufficient to fund our business based on our current operating plan.
  
  

Third Quarter 2026 Conference Call Information

Date: Thursday, November 12, 2026
Time: 8:30 a.m. Eastern Time
Webcast Link: https://edge.media-server.com/mmc/p/vuhn59ek
Participant Link: https://register-conf.media-server.com/register/BIa5435e66b82346329a08be7e156e3eac

Financial Update

The selected financial data presented below is derived from our unaudited condensed consolidated financial statements, which were prepared in accordance with U.S. generally accepted accounting principles. The complete unaudited condensed consolidated financial statements for the period ended September 30, 2026, and management's discussion and analysis of financial condition and results of operations will be available via www.sec.gov and www.sedar.com. All values are presented in thousands unless otherwise noted.

Unaudited Condensed Consolidated Statements of Operations (U.S. Dollars in thousands except share and per share amounts)
	Three Months Ended								Nine Months Ended
	September 30,				September 30,				September 30,				September 30,
	2026				2025				2026				2025
Revenue
PEDMARK product sales, net	$	19,425			$	12,462			$	51,697			$	30,865
Other revenue		183				—				893				—
Total revenue		19,608				12,462				52,590				30,865
Operating expenses:
Cost of product sales		838				660				2,129				2,000
Research and development		154				29				321				230
Selling and marketing		10,050				6,513				32,131				12,510
General and administrative		3,912				5,449				11,737				19,853
Total operating expenses		(14,954	)			(12,651	)			(46,318	)			(34,593	)
Income/(loss) from operations		4,654				(189	)			6,272				(3,728	)
Other (expense)/income
Unrealized foreign exchange (loss)/gain		—				(3	)			(18	)			27
Amortization expense		—				(12	)			—				(38	)
Interest income		319				152				945				559
Interest expense		(1	)			(586	)			(11	)			(1,772	)
Total other income/(expense)		318				(449	)			916				(1,226	)
Income/(loss) before provision for income taxes		4,972				(638	)			7,188				(4,954	)
Provision for income taxes		332				—				374				—
Net income/(loss)	$	4,640			$	(638	)		$	6,814			$	(4,954	)
Basic net income/(loss) per common share	$	0.13			$	(0.02	)		$	0.20			$	(0.18	)
Diluted net income/(loss) per common share	$	0.12			$	(0.02	)		$	0.19			$	(0.18	)
Weighted-average number of common shares outstanding basic		35,112				27,889				34,772				27,711
Weighted-average number of common shares outstanding diluted		38,076				27,889				36,679				27,711

Fennec Pharmaceuticals Inc. Unaudited Condensed Consolidated Balance Sheets (U.S. Dollars and shares in thousands)
		September 30,				December 31,
		2026				2025
Assets
Current assets
Cash and cash equivalents		$	48,684			$	36,788
Accounts receivable, net			23,786				23,221
Prepaid expenses			4,948				3,738
Inventory			2,117				1,565
Other current assets			1,416				1,731
Total current assets			80,951				67,043
Non-current assets
Non-current accounts receivable, net			1,952				2,791
Other non-current assets, net of amortization			640				717
Total non-current assets			2,592				3,508
Total assets		$	83,543			$	70,551
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable		$	4,607			$	4,635
Accrued liabilities			5,830				5,635
Contract liability-current			2,807				248
Total current liabilities			13,244				10,518
Long-term liabilities
Contract liability - long-term			21,109				24,561
Total long-term liabilities			21,109				24,561
Total liabilities			34,353				35,079
Commitments and contingencies
Stockholders’ equity:
Common stock, no par value; unlimited shares authorized; 35,215 shares issued and outstanding (2025 ‑34,163)			194,093				189,906
Additional paid-in capital			76,462				73,745
Accumulated deficit			(222,608	)			(229,422	)
Accumulated other comprehensive income			1,243				1,243
Total stockholders’ equity			49,190				35,472
Total liabilities and stockholders’ equity		$	83,543			$	70,551

Reconciliation of Net Income/(Loss) to Adjusted EBITDA (Non-GAAP) (U.S. Dollars in thousands)
	Three Months Ended								Nine Months Ended
	September 30,				September 30,				September 30,				September 30,
	2026				2025				2026				2025
Net income/(loss)	$	4,640			$	(638	)		$	6,814			$	(4,954	)
Interest income		(319	)			(152	)			(945	)			(559	)
Interest expense		1				586				11				1,772
Provision for income taxes		332				-				374				-
Depreciation and amortization		-				12				-				38
Other revenue (a)		(183	)			-				(893	)			-
Share based compensation expense (b)		1,355				2,219				4,119				4,511
Unrealized loss on securities		-				-				-				2
Unrealized foreign exchange gain/(loss)		-				3				18				(27	)
Adjusted EBITDA	$	5,826			$	2,030			$	9,498			$	783

(a) Represents the portion of GAAP revenue related to “material rights” under the Company’s PEDMARK^® license with Norgine that is non-cash in the current period and was previously recorded as deferred licensing revenue. Under ASC 606, a portion of the upfront consideration received under this agreement was allocated to a material right and recorded as deferred revenue (contract liability), which is subsequently recognized as revenue as PEDMARK^® units are shipped to Norgine and the related material right is satisfied. These amounts are included in GAAP revenue in the periods presented, and the Company continues to apply GAAP recognition and measurement for all revenue, including this component. The adjustment is intended solely to remove this non-cash amortization of previously deferred licensing revenue from Adjusted EBITDA, as management believes excluding this item provides a more comparable view of period-over-period cash operating performance from the Company’s commercial activities.

(b) Represents share-based compensation expense to account for stock options, restricted stock, and other stock awards over their respective vesting periods.

About Cisplatin-Induced Ototoxicity
Cisplatin and other platinum-based chemotherapies are widely used to treat solid tumors and have been vital in improving survival rates. Unfortunately, these life-saving treatments often result in permanent, irreversible hearing loss, also known as ototoxicity.¹

Hearing loss from cisplatin treatment is not rare. Studies show that between 60-90% of patients treated with cisplatin may develop hearing loss, depending upon the dose and duration of chemotherapy.² Many of those treated with cisplatin will require lifelong hearing aids or cochlear implants, which can be helpful for some, but do not reverse the hearing loss and can be costly over time.³ Treatment-induced hearing loss can reduce quality of survivorship as it impacts many aspects of life, such as speech and language skills, academic performance, social-emotional development, career potential and the ability to live independently.^4,5 While audiologic monitoring is recommended to help manage ototoxicity, it is currently underutilized in certain cancer patient populations.

PEDMARK^® (sodium thiosulfate injection)

PEDMARK^® is the first and only U.S. Food and Drug Administration (FDA) approved therapy indicated to reduce the risk of ototoxicity associated with cisplatin treatment in pediatric patients 1 month of age and older with localized, non-metastatic, solid tumors. It is a unique formulation of sodium thiosulfate in single-dose, ready-to-use vials for intravenous use in pediatric patients. PEDMARK is also the first and only therapeutic agent with proven efficacy and safety data with an established dosing regimen, across two open-label, randomized Phase 3 clinical studies, the Children’s Oncology Group (COG) Protocol ACCL0431 and SIOPEL 6.

Additionally, PEDMARK^® is recommended for the adolescent and young adult (AYA) population by the National Comprehensive Cancer Network, or NCCN, with a 2A endorsement.

Approximately 500,000 patients in the U.S. are diagnosed annually with cancers that could be treated with a platinum-based chemotherapy.^6,7 The incidence of ototoxicity depends upon the dose and duration of chemotherapy, and many of those treated will require lifelong hearing aids. Until the FDA approval of PEDMARK, there were no preventative agents for this hearing loss. Patients with hearing loss resulting from cancer treatment have a statistically significant worse quality of life compared with peers who have no hearing loss.^8,9

PEDMARK has been studied by co-operative groups in two Phase 3 clinical studies of survival and reduction of ototoxicity, COG ACCL0431 and SIOPEL 6. Both studies have been completed. The COG ACCL0431 protocol enrolled childhood cancers typically treated with intensive cisplatin therapy for localized and disseminated disease, including newly diagnosed hepatoblastoma, germ cell tumor, osteosarcoma, neuroblastoma, medulloblastoma, and other solid tumors. SIOPEL 6 enrolled only hepatoblastoma patients with localized tumors.

Indications and Usage
PEDMARK^® (sodium thiosulfate injection) is indicated to reduce the risk of ototoxicity associated with cisplatin in pediatric patients 1 month of age and older with localized, non-metastatic solid tumors.

Limitations of Use
The safety and efficacy of PEDMARK have not been established when administered following cisplatin infusions longer than 6 hours. PEDMARK may not reduce the risk of ototoxicity when administered following longer cisplatin infusions, because irreversible ototoxicity may have already occurred.

Important Safety Information
PEDMARK is contraindicated in patients with history of a severe hypersensitivity to sodium thiosulfate or any of its components.

Hypersensitivity reactions occurred in 8% to 13% of patients in clinical trials. Monitor patients for hypersensitivity reactions. Immediately discontinue PEDMARK and institute appropriate care if a hypersensitivity reaction occurs. Administer antihistamines or glucocorticoids (if appropriate) before each subsequent administration of PEDMARK. PEDMARK may contain sodium sulfite; patients with sulfite sensitivity may have hypersensitivity reactions, including anaphylactic symptoms and life-threatening or severe asthma episodes. Sulfite sensitivity is seen more frequently in people with asthma.

PEDMARK is not indicated for use in pediatric patients less than 1 month of age due to the increased risk of hypernatremia or in pediatric patients with metastatic cancers.

Hypernatremia occurred in 12% to 26% of patients in clinical trials, including a single Grade 3 case. Hypokalemia occurred in 15% to 27% of patients in clinical trials, with Grade 3 or 4 occurring in 9% to 27% of patients. Monitor serum sodium and potassium levels at baseline and as clinically indicated. Withhold PEDMARK in patients with baseline serum sodium greater than 145 mmol/L.

Monitor for signs and symptoms of hypernatremia and hypokalemia more closely if the glomerular filtration rate (GFR) falls below 60 mL/min/1.73m².

Administer antiemetics prior to each PEDMARK administration. Provide additional antiemetics and supportive care as appropriate.

The most common adverse reactions (≥25% with difference between arms of >5% compared to cisplatin alone) in SIOPEL 6 were vomiting, nausea, decreased hemoglobin, and hypernatremia. The most common adverse reaction (≥25% with difference between arms of >5% compared to cisplatin alone) in COG ACCL0431 was hypokalemia.

Please see full Prescribing Information for PEDMARK^® at: www.PEDMARK.com.

About Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK^® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom (U.K.) approval in October 2023 under the brand name PEDMARQSI^®.

In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, will commercialize PEDMARQSI^® in Europe, U.K., Australia and New Zealand. PEDMARQSI is now commercially available in multiple countries.

PEDMARK has received Orphan Drug Exclusivity in the U.S. and PEDMARQSI has received Pediatric Use Marketing Authorization in Europe which includes eight years plus two years of data and market protection. Further, Fennec has patents providing protection for PEDMARK until 2039 in both the U.S. and internationally.

For more information, please visit www.fennecpharma.com and follow on LinkedIn.

Forward Looking Statements
Except for historical information described in this press release, all other statements are forward-looking. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include statements about our business strategy, timeline and other goals, plans and prospects, including our commercialization plans respecting PEDMARK^®/PEDMARQSI^®, the market opportunity for and market impact of PEDMARK^®/ PEDMARQSI^®, its potential impact on patients and anticipated benefits associated with its use, future commercial and regulatory milestone and royalty payments from Norgine, and potential access to further funding after the date of this release. Forward-looking statements are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including the risks and uncertainties that regulatory and guideline developments may change, scientific data and/or manufacturing capabilities may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, unforeseen global instability, including political instability, or instability from an outbreak of pandemic or contagious disease, such as the novel coronavirus (COVID-19), or surrounding the duration and severity of an outbreak, protection offered by the Company’s patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, our ability to obtain necessary capital when needed on acceptable terms or at all, the Company may not meet its future capital requirements in different countries and municipalities, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2025. Fennec disclaims any obligation to update these forward-looking statements except as required by law.

For a more detailed discussion of related risk factors, please refer to our public filings available at www.sec.gov and www.sedar.com.

PEDMARK^® PEDMARQSI^® and Fennec^® are registered trademarks of Fennec Pharmaceuticals Inc.

©2026 Fennec Pharmaceuticals Inc. All rights reserved.

For further information, please contact:

Investors:
Robert Andrade
Chief Financial Officer
Fennec Pharmaceuticals Inc.
+1 919-246-5299

Corporate and Media:
Lindsay Rocco
Elixir Health Public Relations
+1 862-596-1304
lrocco@elixirhealthpr.com

_______________
¹ Sheth S et al. Mechanisms of Cisplatin Ototoxicity and Progress in Otoprotection. Frontiers in Cellular Neuroscience. 2017, Vol. 11.
² Langer T, am Zehnhoff-Dinnesen A, Radtke S, Meitert J, Zolk O. Understanding platinum-induced ototoxicity. Trends Pharmacol Sci. 2013;34(8):458-469
³ Landier W. Ototoxicity and Cancer Therapy. Cancer. June 2016 Vol. 122, No.11: 1647-1658.
⁴ Clemens E, van den Heuvel-Eibrink MM, Mulder RL, et al. Recommendations for ototoxicity surveillance for childhood, adolescent, and young adult cancer survivors: a report from the International Late Effects of Childhood Cancer Guideline Harmonization Group in collaboration with the PanCare Consortium. Lancet Oncol. 2019;20(1):e29-e41
⁵ Bass JK, Knight KR, Yock TI, Chang KW, Cipkala D, Grewal SS. Evaluation and management of hearing loss in survivors of childhood and adolescent cancers: a report from the children’s oncology group. Pediatr Blood Cancer. 2016;63(7):1152-1162.
⁶ Chattaraj A et al. Cisplatin-Induced Ototoxicity: A Concise Review of the Burden, Prevention, and Interception Strategies. JCO Oncol Pract. 2023;19
⁷ Freyer DR et al. Effects of sodium thiosulfate versus observation on development of cisplatin-induced hearing loss in children with cancer (ACCL0431): a multicentre, randomised, controlled, open-label, phase 3 trial. Lancet Oncol. 2017;18(1):63-74.
⁸ Rajput K, Edwards L, Brock P, Abiodun A, Simpkin P, Al-Malky G. Ototoxicity-induced hearing loss and quality of life in survivors of paediatric cancer. Int J Pediatr Otorhinolaryngol. 2020;138:110401. doi:10.1016/j.ijporl.2020.110401
⁹ Bass JK, Knight KR, Yock TI, Chang KW, Cipkala D, Grewal SS. Evaluation and management of hearing loss in survivors of childhood and adolescent cancers: a report from the children’s oncology group. Pediatr Blood Cancer. 2016;63(7):1152-1162.

FAQ

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What were Fennec Pharmaceuticals' third-quarter 2026 sales and earnings?

Fennec reported $19.4 million in net product sales, up 56% year over year, and net income of $4.640 million. Diluted earnings were $0.12 per share, compared with a $0.02 loss a year earlier.

What did Fennec's Japanese Phase 2 PEDMARK study show?

Fennec reported that the investigator-initiated Phase 2 STS-J01 trial demonstrated hearing protection in pediatric and adolescent and young adult patients with non-metastatic solid tumors in Japan. The company described the findings as reassuring regarding antitumor activity with delayed PEDMARK administration. Full results will be submitted for peer-reviewed publication.