Fennec director plans $160K stock sale

FENNEC PHARMACEUTICALS INC.

Available on EDGAR 09/15/2026 - 04:07 PM EDT Accepted by SEC EDGAR 09/15/2026 - 04:06 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

FENNEC PHARMACEUTICALS INC. (FENC) received a notice that director Marco Maria Brughera plans to sell common shares under Rule 144. The filing covers 15,545 shares of common stock, with an aggregate market value of $160,069.97, expected to be sold on or about September 15, 2026 on NASDAQ.

The shares are to be sold through Morgan Stanley Smith Barney LLC Executive Financial Services, and the planned transaction is described as a stock option exercise settled in cash. The notice also lists transaction dates in the prior three months, including June 16, 2026.

Key Figures

Shares to be sold: 15,545 shares Aggregate market value: $160,069.97 Planned sale date: September 15, 2026

3 metrics

Shares to be sold 15,545 shares Common stock covered by the Rule 144 notice

Aggregate market value $160,069.97 Value of the 15,545 FENNEC PHARMACEUTICALS INC. shares listed for sale

Planned sale date September 15, 2026 Date associated with the proposed Rule 144 sale of common shares

Key Terms

Rule 144, stock option exercise, aggregate market value, NASDAQ

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

stock option exercise financial

"Common | 09/15/2026 | Stock Option Exercise | ISSUER"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

aggregate market value financial

"Common ... | 15545 | 160069.97 | 35067159 | 09/15/2026"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

NASDAQ market

"35067159 | 09/15/2026 | NASDAQ"

The Nasdaq is a stock exchange where many companies' shares are bought and sold, functioning much like a marketplace for investments. It matters to investors because it provides a platform to buy and sell ownership stakes in companies, helping them track the value of those companies and make informed decisions. As one of the largest and most technology-focused markets, it also reflects trends and developments in the business world.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 144 filing disclose for FENC?

It discloses that director Marco Maria Brughera intends to sell 15,545 shares of FENNEC PHARMACEUTICALS INC. common stock under Rule 144, with an aggregate market value of $160,069.97, in a transaction expected around September 15, 2026.

How many FENNEC PHARMACEUTICALS INC. (FENC) shares are covered by this Form 144?

The notice covers 15,545 shares of FENNEC PHARMACEUTICALS INC. common stock. These shares are planned to be sold in a transaction associated with a stock option exercise and are listed for sale on or about September 15, 2026.

What is the aggregate market value of the FENC shares in this Form 144?

The filing lists an aggregate market value of $160,069.97 for the 15,545 common shares of FENNEC PHARMACEUTICALS INC. covered by the planned Rule 144 sale through Morgan Stanley Smith Barney LLC.

When is the planned sale date for the FENC shares under this Form 144?

The expected sale date for the covered FENNEC PHARMACEUTICALS INC. shares is September 15, 2026. The same date appears as both the proposed sale date and the listed date in the securities information section.

What is the nature of the planned FENC transaction in this Form 144?

The planned transaction is described as a stock option exercise in common stock of FENNEC PHARMACEUTICALS INC., with settlement in cash. The shares are to be sold on NASDAQ via Morgan Stanley Smith Barney LLC Executive Financial Services.

Which broker is handling the proposed Rule 144 sale for FENC shares?

The proposed sale will be handled by Morgan Stanley Smith Barney LLC Executive Financial Services, located at 1 New York Plaza, New York. This broker is listed in connection with the 15,545 shares of common stock to be sold.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001589776
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	FENNEC PHARMACEUTICALS INC.
SEC File Number	001-32295
Address of Issuer	PO BOX 13628, 68 TW ALEXANDER DRIVE Research Triangle Park NORTH CAROLINA 27709
Phone	(919) 636-4530
Name of Person for Whose Account the Securities are To Be Sold	MARCO BRUGHERA
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	15545	160069.97	35067159	09/15/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/15/2026	Stock Option Exercise	ISSUER			15545	09/15/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks
Date of Notice	09/15/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	06/16/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Marco Maria Brughera
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)