STOCK TITAN

Fennec Pharmaceuticals Inc. - FENC STOCK NEWS

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.

Rhea-AI Summary

Fennec Pharmaceuticals (NASDAQ: FENC) reported its Q1 2024 financial results, revealing total net revenues of $25.4 million, driven by $18 million in licensing revenue from a new agreement with Norgine. The company executed an exclusive licensing deal with Norgine to commercialize PEDMARQSI™ in Europe, Australia, and New Zealand, receiving $43.2 million upfront, with potential total earnings of up to $230 million. PEDMARK product sales contributed $7.4 million. Cash and equivalents surged to $51.2 million from $13.3 million at the end of 2023. However, selling and marketing expenses rose to $5.2 million, and G&A expenses increased to $5.8 million. Net income reached $12.8 million, a significant turnaround from a $6.1 million loss in Q1 2023. An amended J-code for PEDMARK, effective April 1, 2024, specifies its non-interchangeability with other formulations.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-26.75%
Tags
-
Rhea-AI Summary

Fennec Pharmaceuticals Inc. (NASDAQ: FENC; TSX: FRX) will release its first quarter 2024 financial results on May 14, 2024, before the opening of the U.S. financial markets. A conference call and webcast will be held to discuss the financial and business results on the same day. Details for the call and webcast are provided for registration and access.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.86%
Tags
conferences earnings
-
Rhea-AI Summary
Fennec Pharmaceuticals Inc. reported robust PEDMARK® sales in 2023, achieving $21.3 million in net product sales, with a significant licensing agreement for PEDMARQSI™ in Europe, Australia, and New Zealand. The company's pro forma cash balance exceeded $55 million, showcasing financial strength. Despite positive revenue growth, the company faced challenges with increased operating expenses and a net loss for the year.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary
Fennec Pharmaceuticals Inc. will release its full year and fourth quarter 2023 financial results on March 21, 2024. A conference call and webcast will follow to discuss the Company's financial and business performance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.54%
Tags
conferences earnings
-
Rhea-AI Summary
Fennec Pharmaceuticals Inc. and Norgine enter an exclusive licensing agreement for PEDMARQSI®, the first approved therapy in EU and UK for reducing cisplatin-induced hearing loss in pediatric patients. Fennec to receive €40M upfront, up to €210M in milestones, and royalties. PEDMARQSI holds significant market potential with approvals in EU and UK based on Phase 3 trial data.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.37%
Tags
none
-
Rhea-AI Summary
FENC anticipates net revenues of $9.2 to $9.7 million for the fourth quarter of 2023, with full-year results to be disclosed soon.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.72%
Tags
Rhea-AI Summary
Fennec Pharmaceuticals Inc. announced that the U.S. FDA issued a public reminder to healthcare providers about the non-substitutability of PEDMARK with other sodium thiosulfate products. The FDA highlighted potential health risks associated with such substitutions, emphasizing the unique characteristics of PEDMARK. This communication aims to protect pediatric patients with localized, non-metastatic solid tumors from ototoxicity linked to cisplatin treatment.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary
Fennec Pharmaceuticals Inc. (NASDAQ: FENC; TSX: FRX) announced the third closing of $5 million senior secured promissory notes under the existing agreement with Petrichor, amending it to provide access to up to $15 million of additional financing through December 31, 2024. The investment supports global PEDMARK® rollout, market expansion into the Adolescent and Young Adult (AYA) Patient Population, and strategic discussions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.54%
Tags
none
-
Rhea-AI Summary
Fennec Pharmaceuticals Inc. (NASDAQ:FENC; TSX: FRX) announces participation in upcoming conferences and one-on-one investor meetings. The company will be presenting at the Jefferies London Healthcare Conference and hosting investor meetings at the Craig Hallum Alpha Select Conference on November 16, 2023. The company's flagship product, PEDMARK®, is the first and only FDA-approved therapy to reduce the risk of ototoxicity associated with cisplatin treatment in pediatric patients with solid tumors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.19%
Tags
conferences
Rhea-AI Summary
Fennec Pharmaceuticals Inc. reported net product revenue of $6.5 million in the third quarter, a 96% increase compared to the second quarter. The company's PEDMARK® drug addresses a significant unmet medical need in the pediatric oncology community. They also received approval for PEDMARQSI in the U.K. and are preparing for its launch in Europe. Cash and cash equivalents were $12.4 million as of September 30, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.36%
Tags

FAQ

What is the current stock price of Fennec Pharmaceuticals (FENC)?

The current stock price of Fennec Pharmaceuticals (FENC) is $6.07 as of December 4, 2024.

What is the market cap of Fennec Pharmaceuticals (FENC)?

The market cap of Fennec Pharmaceuticals (FENC) is approximately 166.5M.

What is Fennec Pharmaceuticals Inc.?

Fennec Pharmaceuticals Inc. is a commercial-stage biopharmaceutical company focused on developing therapies for pediatric oncology, including its lead product PEDMARK.

What is PEDMARK?

PEDMARK is a novel formulation of sodium thiosulfate designed to prevent cisplatin-induced hearing loss in pediatric patients.

Where is Fennec Pharmaceuticals headquartered?

Fennec Pharmaceuticals is headquartered in Research Triangle Park, North Carolina, USA.

What recent achievements has Fennec Pharmaceuticals made?

Recent achievements include FDA approval for PEDMARK, a licensing agreement with Norgine for EU and ANZ commercialization, and hosting regular investor conference calls to discuss financial results.

How can investors get updates about Fennec Pharmaceuticals?

Investors can get updates through the company's website, where they can find news releases, financial reports, and conference call information.

Who is the CFO of Fennec Pharmaceuticals?

The CFO of Fennec Pharmaceuticals is Robert Andrade.

What was Fennec Pharmaceuticals formerly known as?

Fennec Pharmaceuticals was formerly known as Adherex Technologies Inc.

When was Fennec Pharmaceuticals founded?

Fennec Pharmaceuticals was founded in 1996.

What is the significance of PEDMARK's FDA approval?

PEDMARK's FDA approval is significant as it is the first and only approved therapy to reduce the risk of cisplatin-induced ototoxicity in pediatric patients.

What are the terms of the licensing agreement with Norgine?

The licensing agreement with Norgine includes upfront consideration of €40 million, up to €210 million in milestone payments, and double-digit tiered royalties on net sales.

Fennec Pharmaceuticals Inc.

Nasdaq:FENC

FENC Rankings

FENC Stock Data

166.51M
22.98M
16.22%
54.73%
6.8%
Biotechnology
Biological Products, (no Disgnostic Substances)
Link
United States of America
RESEARCH TRIANGLE PARK