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. reports developments as a commercial-stage specialty pharmaceutical company focused on PEDMARK® (sodium thiosulfate injection), a therapy used to reduce the risk of cisplatin-induced ototoxicity in pediatric patients with localized, non-metastatic solid tumors. The company also markets the product in Europe and the United Kingdom under the PEDMARQSI® name and has disclosed a licensing arrangement for commercialization in additional non-U.S. markets.
Recurring news themes include PEDMARK product sales and financial results, commercialization updates, scientific abstracts, investigator-sponsored and real-world studies in cancer patients receiving cisplatin-based chemotherapy, product exclusivity and patent matters, and equity compensation actions under Nasdaq rules.
Fennec Pharmaceuticals has announced that the FDA granted Orphan Drug Exclusivity for PEDMARK® (sodium thiosulfate injection), aimed at reducing the risk of cisplatin-related ototoxicity in pediatric patients with localized, non-metastatic solid tumors. This exclusivity provides seven years of market protection, commencing from its approval date on September 20, 2022. Furthermore, PEDMARK® is supported by three U.S. patents extending its protection until 2039. The drug stands as the sole FDA-approved option for this indication, backed by clinical studies demonstrating its efficacy. This exclusivity positions Fennec to potentially capitalize on a market of over 10,000 children annually receiving cisplatin treatment.
Fennec Pharmaceuticals Inc. (NASDAQ: FENC) announced that the National Comprehensive Cancer Network has updated its guidelines to include PEDMARK as a key therapy for reducing ototoxicity caused by cisplatin in pediatric patients with localized, non-metastatic solid tumors. Following its FDA approval in September 2022, PEDMARK offers a critical mitigation strategy for hearing loss, which affects up to 90% of children undergoing cisplatin treatment. The update highlights the growing recognition of the need to preserve hearing in young patients, as permanent hearing loss can significantly impact learning and development.
Fennec Pharmaceuticals (NASDAQ:FENC) reported a significant milestone with the FDA's approval of PEDMARK®, the first therapy approved to reduce ototoxicity risk from cisplatin in pediatric patients. Following its October 2022 U.S. launch, the company secured $25 million in funding to support commercialization efforts. Financially, Fennec reported a net loss of $8.1 million for Q3 2022, compared to $4.2 million in Q3 2021. While R&D expenses decreased, G&A expenses surged by $4.1 million, reflecting the costs of building commercial infrastructure.
Fennec Pharmaceuticals has launched PEDMARK (sodium thiosulfate injection), the first FDA-approved therapy to mitigate cisplatin-induced hearing loss in pediatric patients aged one month and older with localized, non-metastatic solid tumors. This breakthrough therapy offers substantial help to patients at risk of permanent hearing loss, previously managed with cochlear implants. The company also introduced the Fennec HEARS™ program, providing financial support and care coordination. PEDMARK, which received FDA approval in September 2022, addresses a significant medical need, as approximately 60% of pediatric patients treated with cisplatin face irreversible hearing loss.
Fennec Pharmaceuticals Inc. has successfully completed a second closing of $20 million in senior secured promissory notes as part of an investment agreement with Petrichor Healthcare Capital Management. This funding followed the FDA approval of PEDMARK®, aimed at reducing cisplatin-induced ototoxicity in pediatric patients. The company may access an additional $20 million before December 31, 2023, under the agreement. PEDMARK® is the only FDA-approved therapy for preventing this type of hearing loss, offering vital protection for children undergoing chemotherapy.
Fennec Pharmaceuticals announced that the FDA has approved PEDMARK (sodium thiosulfate injection), marking it as the first and only therapy approved to reduce the risk of ototoxicity from cisplatin in pediatric patients. This approval addresses a significant unmet medical need, as cisplatin treatment often leads to severe hearing loss in children. Clinical trials showed that the incidence of hearing loss in patients receiving PEDMARK was significantly lower than in those treated with cisplatin alone (21.4% vs. 73.3% and 32.7% vs. 63%). PEDMARK is indicated for patients aged one month and older with localized, non-metastatic solid tumors.
Fennec Pharmaceuticals reported the completion of a $5 million financing milestone under an investment agreement with Petrichor Healthcare Capital Management. An additional $20 million may be provided upon FDA approval of PEDMARK, a drug aimed at preventing chemotherapy-induced hearing loss in pediatric patients. The FDA's action date for the New Drug Application is set for September 23, 2022. The funding will also help Fennec repay existing debts. The company has potential access to $20 million by the end of 2023, contingent on meeting agreement terms.
Fennec Pharmaceuticals (NASDAQ:FENC) announced significant developments regarding its PEDMARKTM drug for preventing cisplatin-induced ototoxicity in pediatric patients. With a Prescription Drug User Fee Act (PDUFA) target action date set for September 23, 2022, the company is gearing up for a U.S. launch, bolstered by a $45 million investment from Petrichor Healthcare. Financial results reveal a net loss of $5.1 million for Q2 2022, increasing from $4.0 million in Q2 2021, with cash reserves at $14.9 million as of June 30, 2022, reflecting a decline due to pre-commercialization expenses.
Fennec Pharmaceuticals (NASDAQ:FENC) announced a significant investment agreement with Petrichor Healthcare Capital Management, potentially worth up to $45 million. The deal consists of $5 million in senior secured promissory notes and an additional $20 million contingent on FDA approval of PEDMARK™ by September 30, 2022. This funding aims to support the commercialization of PEDMARK™, which seeks to mitigate ototoxicity in pediatric cancer patients undergoing chemotherapy. The notes bear a five-year term with interest tied to the US Prime Rate plus 4.5%.
Fennec Pharmaceuticals Inc. (NASDAQ:FENC) announced the successful election of its director nominees at the Annual General Meeting held on June 14, 2022, in New York. All nominees received a strong majority of votes, with Dr. Khalid Islam receiving 99.59% in favor. Additionally, shareholders voted overwhelmingly (99.23%) to appoint Haskell & White LLP as auditors and approved the executive compensation package with 99.03% support. The meeting reflects strong shareholder confidence in the company's leadership and governance.