FENC Form 144 Notice — 1,775 Shares to Trade on NASDAQ 10/10/2025

Rhea-AI Filing Summary

Fennec Pharmaceuticals (FENC) filed a Form 144 notifying a proposed sale of 1,775 common shares with an aggregate market value of $16,401.00. The shares are scheduled for sale approximately on 10/10/2025 on NASDAQ. The filing shows the shares were acquired the same day, 10/10/2025, by stock option exercise from the issuer and paid in cash. There were 27,831,698 shares outstanding noted for the class. No securities were reported sold in the prior three months. The filer affirms they are not aware of undisclosed material adverse information and the notice contains the standard attestation language regarding trading plans and criminal penalties for false statements.

Positive

• Full disclosure of proposed sale details including broker, share count, value, and planned sale date
• Acquisition method transparently stated as a stock option exercise with cash payment on 10/10/2025
• No prior sales reported in the past three months for the selling person

Negative

• None.

Insights

Insider Trading/Equity Trading Expert

Small post‑exercise sale planned by an insider via market broker.

The notice records a proposed open‑market sale of $16,401.00 for 1,775 shares to be executed through Morgan Stanley Smith Barney LLC on 10/10/2025. The shares were acquired by a stock option exercise and paid in cash on the same date, which indicates an immediate post‑exercise disposition rather than a long‑term transfer.

This transaction size represents a small fraction of the class base (27,831,698 outstanding), so it is unlikely to be price‑moving alone. Monitor trade execution on the listed exchange around 10/10/2025 for any clustering with other insider sales that could be material.

Corporate Governance / Compliance Expert

Filing follows Rule 144 disclosure and includes standard attestation.

The form includes the required representation that the seller is unaware of any undisclosed material adverse information and notes the possibility of a Rule 10b5‑1 trading plan if applicable. It names the executing broker and furnishes acquisition details (exercise from the issuer, cash payment).

From a compliance perspective, the clear dating of acquisition and planned sale simplifies rule‑144 eligibility review. If a trading plan or instruction date exists, it should be noted to confirm affirmative safe‑harbor timing.

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

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

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

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	1775	16401.00	27831698	10/10/2025	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	10/10/2025	Stock Option Exercise	ISSUER			1775	10/10/2025	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

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed by FENC report?

It reports a proposed sale of 1,775 common shares with an aggregate market value of $16,401.00, to be sold approximately on 10/10/2025 on NASDAQ.

How were the shares being sold acquired according to the filing?

The shares were acquired on 10/10/2025 by a stock option exercise from the issuer and paid for in cash.

Who is the broker named for the planned sale in the FENC Form 144?

The broker listed is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza.

Does the filing indicate recent sales by the same person?

No. The filing states "Nothing to Report" for securities sold during the past three months.

How many shares outstanding does the filing show for the class?

The filing lists 27,831,698 shares outstanding for the class.