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Fennec Pharmaceuticals Inc (FENC) delivers innovative therapies targeting cisplatin-induced hearing loss in pediatric cancer patients. This news hub provides investors and healthcare professionals with essential updates on clinical advancements, regulatory milestones, and strategic partnerships.
Access timely reports on PEDMARK® development progress, including FDA communications and international commercialization efforts through European licensing agreements. Our curated news collection ensures you stay informed about pivotal Phase III trial outcomes and market expansion initiatives without promotional bias.
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Fennec Pharmaceuticals announced the results of its Annual General Meeting of Shareholders held on June 25, 2024, in New York. The nominees listed in the April 29, 2024, management proxy circular were elected as directors, with high approval ratings. Notably, Dr. Khalid Islam received 96.45% of votes in favor, while Mr. Chris A. Rallis received 92.52%. Shareholders also voted 97.96% in favor of appointing Haskell & White LLP as auditors and 93.87% in favor of the executive compensation plan.
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.
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.
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