FENNEC PHARMACEUTICALS INC.
Business
Fennec Pharmaceuticals is a specialty pharmaceutical company focused on preventing cisplatin-induced ototoxicity, a serious side effect of cancer treatment. The company's lead product, PEDMARK® (sodium thiosulfate injection), is FDA-approved and European Commission-approved for reducing hearing loss risk in pediatric cancer patients receiving cisplatin therapy. Fennec commercializes PEDMARK® directly in the United States through a specialized sales force and patient support program, while licensing commercialization rights to partners in Europe (Norgine), Turkey, and Gulf Cooperation Council countries (Inpharmus).
Summary from 10-K filed 2026-03-27
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Product sales, net | 45 | 30 | 21 | — | — | |
| Licensing revenue | — | 18 | — | — | — | |
| Total net revenues | 45 | 48 | 21 | 2 | — | |
| Cost of product sales | 4 | 3 | 1 | — | — | |
| Research and development | 250,000 | 307,000 | 56,000 | 4 | 5 | |
| Selling and marketing | 19 | 18 | 12 | 3 | — | |
| General and administrative | 28 | 23 | 21 | 18 | 12 | |
| Total operating expenses | 51 | 45 | 34 | 24 | 17 | |
| (Loss)/income from operations | −6 | 3 | −13 | −23 | −17 | |
| Unrealized foreign exchange gain/(loss) | 28,000 | −82,000 | 5,000 | −9,000 | −10,000 | |
| Amortization expense | −64,000 | −89,000 | −287,000 | −149,000 | −16,000 | |
| Unrealized loss on securities | −2,000 | −81,000 | −39,000 | — | — | |
| Loss on debt extinguishment | −2 | — | — | — | — | |
| Interest income | 787,000 | 2 | 441,000 | — | — | |
| Interest expense | −2 | −4 | −3 | — | — | |
| Total other expense | −3 | −3 | −3 | −1 | −123,000 | |
| Loss before income tax | −10 | −71,000 | −16 | — | — | |
| Income tax | −106,000 | −365,000 | — | — | — | |
| Net loss | −10 | −436,000 | −16 | −24 | −17 | |
| Basic net loss per common share | −0.34 | −0.02 | −0.6 | −0.9 | −0.67 | |
| Diluted net loss per common share | −0.34 | −0.02 | −0.6 | −0.9 | −0.67 | |
| Weighted-average number of common shares outstanding basic | 29 | 27 | 27 | 26 | 26 | |
| Weighted-average number of common shares outstanding diluted | 29 | 27 | 27 | 26 | 26 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-09-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 37 | 27 | 13 | — | 24 | |
| Accounts receivable, net | 23 | 13 | 9 | — | 2 | |
| Prepaid expenses | 4 | 3 | 3 | 1 | 770,000 | |
| Inventory | 2 | 1 | 2 | — | 576,000 | |
| Other current assets | 2 | 466,000 | 44,000 | — | 63,000 | |
| Total current assets | 67 | 44 | 27 | 20 | 27 | |
| Non-current accounts receivable, net | 3 | — | — | — | — | |
| Other non-current assets, net of amortization | 717,000 | 822,000 | 816,000 | — | — | |
| Total non-current assets | 4 | 822,000 | 6,000 | — | 211,000 | |
| Total assets | 71 | 45 | 27 | 20 | 27 | |
| Accounts payable | 5 | 3 | 4 | — | 2 | |
| Accrued liabilities | 6 | 3 | 4 | — | 2 | |
| Operating lease liability - current | — | 2,000 | 21,000 | — | — | |
| Contract liability - current | 248,000 | 248,000 | — | — | — | |
| Total current liabilities | 11 | 7 | 8 | — | 5 | |
| Term loan | — | 18 | 30 | — | 25 | |
| PIK interest | — | 1 | 1 | — | 260,000 | |
| Debt discount | — | −139,000 | −288,000 | — | −361,000 | |
| Contract liability - long-term | 25 | 25 | 2,000 | — | — | |
| Total non-current liabilities | 25 | 44 | 31 | — | 25 | |
| Total liabilities | 35 | 51 | 38 | — | 30 | |
| Common stock, no par value; unlimited shares authorized; 34,163 shares issued and outstanding (2024 27,527) | 190 | 146 | 144 | — | 143 | |
| Additional paid-in capital | 74 | 67 | 62 | — | 57 | |
| Accumulated deficit | −229 | −220 | −219 | 216 | −203 | |
| Accumulated other comprehensive income | 1 | 1 | 1 | — | 1 | |
| Total shareholders' equity/(deficit) | 35 | −6 | −12 | 10 | −3 | |
| Total liabilities and shareholders' equity/(deficit) | 71 | 45 | 27 | 20 | 27 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −10 | −436,000 | −16 | 24 | — | |
| Inventory reserve | 773,000 | 517,000 | — | — | — | |
| Allowance for credit losses | 2 | 4 | — | — | — | |
| Amortization of contract asset | 103,000 | 800,000 | — | — | — | |
| Amortization of debt access fees | — | 21,000 | 221,000 | 132,000 | 14,000 | |
| Amortization of debt discount | 65,000 | 138,000 | 66,000 | 17,000 | 2,000 | |
| Unrealized loss on securities | 2,000 | 81,000 | 39,000 | 184,000 | — | |
| Equity-based compensation | 7 | 5 | 5 | 4 | 4 | |
| PIK interest | — | 52,000 | — | — | — | |
| Accounts receivable | −12 | −8 | −7 | −2 | — | |
| Prepaid expenses | −658,000 | −505,000 | 104,000 | 264,000 | −237,000 | |
| Inventory | −1 | 579,000 | −2 | −576,000 | — | |
| Other assets | −1 | 796,000 | — | — | — | |
| Other non-current assets | −3 | — | — | — | — | |
| Accounts payable | 1 | −537,000 | 1 | 2 | −794,000 | |
| Accrued liabilities | 2 | −326,000 | 576,000 | 1 | 101,000 | |
| Contract liability | — | 25 | — | — | — | |
| Net cash (used in)/provided by operating activities | −12 | 27 | −17 | −18 | −14 | |
| Issuance of shares, options exercise | 2 | 1 | 2 | 928,000 | 33,000 | |
| Proceeds form the issuance of common stock, net of offering costs | 42 | — | — | — | — | |
| Payment of long-term debt | −19 | −13 | — | −5 | — | |
| Prepayment penalty on debt repayment | −2 | — | — | — | — | |
| Cash paid for taxes on restricted share release | −187,000 | −176,000 | −78,000 | −194,000 | — | |
| Deferred issuance costs | — | −2 | — | — | — | |
| Net cash provided by/(used in) by financing activities | 23 | −14 | 7 | 21 | 5 | |
| Increase in cash and cash equivalents | 10 | 13 | −11 | 3 | −9 | |
| Cash paid for interest | 4 | 4 | — | — | — | |
| Cash paid for taxes | 748,000 | — | — | — | — | |
| Right-of-use assets obtained in exchange for operating lease liabilities | — | 2,000 | — | — | — | |
| Financed insurance policy | 393,000 | 386,000 | 403,000 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is FENNEC PHARMACEUTICALS INC.'s CIK number?
FENNEC PHARMACEUTICALS INC.'s SEC CIK number is 0001211583 (1211583). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find FENNEC PHARMACEUTICALS INC.'s SEC filings?
All of FENNEC PHARMACEUTICALS INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did FENNEC PHARMACEUTICALS INC. last report earnings?
FENNEC PHARMACEUTICALS INC. (FENC) most recently filed an earnings 8-K with the SEC on Mar 24, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-033885). This is FENNEC PHARMACEUTICALS INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is FENNEC PHARMACEUTICALS INC.'s most recent earnings 8-K?
FENNEC PHARMACEUTICALS INC.'s latest earnings 8-K (Item 2.02) was filed Mar 24, 2026 under accession 0001104659-26-033885. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
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