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FENC

Fennec Pharmaceuticals Inc.

FENC

Fennec Pharmaceuticals Inc. • NASDAQ
$8.19 ▲ 3.80% (+0.30)
Market Cap $225.63 M
52w High $9.92
52w Low $4.68
Dividend Yield 0%
P/E -31.5
Volume 86.92K
Outstanding Shares 27.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $12.462M ▲ $11.991M ▲ $-638K ▲ -5.12% ▲ $-0.02 ▲ $-1K ▲
Q2-2025 $9.652M ▲ $11.417M ▲ $-3.152M ▼ -32.656% ▼ $-0.12 ▼ $-2.533M ▼
Q1-2025 $8.751M ▲ $9.186M ▲ $-1.165M ▲ -13.313% ▲ $-0.042 ▲ $-782K ▲
Q4-2024 $7.925M ▲ $8.19M ▼ $-1.985M ▲ -25.047% ▲ $-0.072 ▲ $-909K ▲
Q3-2024 $6.974M $10.819M $-5.735M -82.234% $-0.21 $-4.685M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $21.926M ▲ $49.213M ▲ $53.701M ▲ $-4.488M ▲
Q2-2025 $18.705M ▼ $44.876M ▼ $52.339M ▲ $-7.463M ▼
Q1-2025 $22.675M ▼ $46.403M ▲ $52.283M ▲ $-5.88M ▼
Q4-2024 $26.634M ▼ $44.946M ▼ $50.818M ▼ $-5.872M ▼
Q3-2024 $40.32M $58.921M $64.092M $-5.171M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-637K ▲ $1.493M ▲ $0 $1.749M ▲ $3.242M ▲ $1.493M ▲
Q2-2025 $-3.152M ▼ $-3.686M ▲ $0 $-284K ▼ $-3.97M ▼ $-3.686M ▲
Q1-2025 $-1.165M ▲ $-4.318M ▼ $0 $359K ▲ $-3.959M ▲ $-4.318M ▼
Q4-2024 $-1.985M ▲ $-1.474M ▲ $0 $-12.212M ▼ $-13.686M ▼ $-1.474M ▲
Q3-2024 $-5.735M $-2.206M $0 $-528K $-2.734M $-2.206M

Five-Year Company Overview

Income Statement

Income Statement Fennec’s income statement shows a company that has recently moved from pure development into early commercialization. Revenue has only started to appear in the last couple of years and is still modest, but it is clearly growing as PEDMARK® gains traction. Gross profit tracks close to revenue, suggesting a relatively high margin product once scale builds. Operating losses have steadily narrowed, and results are now close to break-even, although the company is still not consistently profitable. Earnings per share have improved sharply from sizable losses to only small losses, but results may remain uneven while the launch ramps up and commercial spending stays elevated.

Balance Sheet

Balance Sheet The balance sheet is small and reflects a focused, single-product biotech profile. Cash has recovered from a softer period and now looks more comfortable than a year earlier, but it is not abundant relative to the company’s needs and risk profile. Debt is meaningful compared with the total asset base, and shareholders’ equity has turned negative, which means obligations exceed recorded assets. This structure can limit flexibility and makes the company more sensitive to setbacks or delays in revenue growth. Over time, strengthening the equity base and managing debt levels will be important to reduce financial fragility.

Cash Flow

Cash Flow The cash flow picture is improving and is more encouraging than the accounting equity. For several years, the company consistently used cash to fund operations, typical of a development-stage biotech. More recently, operating cash flow has turned positive, indicating that PEDMARK® sales are beginning to cover day-to-day costs. Capital spending is minimal, so free cash flow largely mirrors operating cash flow, which is a plus. However, this positive turn is still new, and the durability of cash generation will depend on sustained prescription growth, reimbursement stability, and execution in new markets.

Competitive Edge

Competitive Edge Fennec holds a strong position in a very specific niche: preventing chemotherapy-induced hearing loss in children. PEDMARK® is currently the only FDA‑approved therapy for this problem, supported by orphan drug exclusivity and long-dated patents, which together create meaningful protection from direct competition. The company’s narrow focus has allowed it to build deep relationships with pediatric oncologists and specialized treatment centers, a useful advantage in a concentrated prescriber base. At the same time, the opportunity is tied to a relatively small patient population and a single product, which concentrates both upside and risk. Larger pharmaceutical companies could eventually target this space, but regulatory, clinical, and commercial barriers make it harder for new entrants to catch up quickly.

Innovation and R&D

Innovation and R&D Fennec’s innovation story revolves almost entirely around PEDMARK®, a first-of-its-kind protective treatment against cisplatin-related hearing loss in children. The product is backed by strong late‑stage clinical data and a clear medical need, which supports its scientific and clinical credibility. Current development efforts are focused on extending the use of PEDMARK® to older patients and new regions, including adolescent and young adult populations, Europe, and Japan. Beyond this, there is no visible, diversified pipeline, so the research and development effort is essentially a single-asset strategy. That concentration keeps the story simple but increases dependence on the continued success and life‑cycle expansion of one product.

Summary

Fennec Pharmaceuticals is in the middle of a transition from being a research-driven biotech to a commercial-stage company centered on one specialized oncology support product. The income statement and cash flow show clear progress toward financial self-sufficiency, with revenues growing and cash generation turning positive, yet profitability is still fragile and not firmly established. The balance sheet is a notable weak spot, with negative equity and a reliance on debt, which heighten sensitivity to any stumble in commercial performance. Strategically, the company benefits from a first-mover position, regulatory exclusivity, and strong clinical data in a well-defined niche, but its fate is tightly linked to a single drug and a relatively narrow indication. Overall, Fennec combines meaningful medical impact and a defensible niche with concentrated product risk and a thin financial cushion, making execution on PEDMARK® commercialization and geographic/label expansion the central factor in its outlook.

NEWS

November 26, 2025 · 5:59 AM UTC

Fennec Pharmaceuticals to Participate in Piper Sandler 37th Annual Healthcare Conference

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November 17, 2025 · 4:15 PM UTC

Fennec Pharmaceuticals Announces Closing of Offering of Common Shares

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November 13, 2025 · 11:11 PM UTC

Fennec Pharmaceuticals Announces Private Offering of Common Shares in Canada

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November 13, 2025 · 11:07 PM UTC

Fennec Pharmaceuticals Announces Pricing of Offering of Common Shares

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November 13, 2025 · 4:08 PM UTC

Fennec Pharmaceuticals Announces Proposed Offering of Common Shares

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