Fennec Pharmaceuticals (FENC)
Market Price (5/26/2026): $9.93 | Market Cap: $341.0 MilSector: Health Care | Industry: Biotechnology
Fennec Pharmaceuticals (FENC)
Market Price (5/26/2026): $9.93Market Cap: $341.0 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 65% Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, and Biopharmaceutical R&D. | Trading close to highsDist 52W High is -0.4% Weak multi-year price returns3Y Excs Rtn is -48% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -11%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -11% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.8% Key risksFENC key risks include [1] significant financial distress and potential bankruptcy risk, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 65% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, and Biopharmaceutical R&D. |
| Trading close to highsDist 52W High is -0.4% |
| Weak multi-year price returns3Y Excs Rtn is -48% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -11%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -11% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.8% |
| Key risksFENC key risks include [1] significant financial distress and potential bankruptcy risk, Show more. |
Qualitative Assessment
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Fennec Pharmaceuticals (FENC) stock has gained about 30% since 1/31/2026 because of the following key factors:
1. Fennec Pharmaceuticals (FENC) reported strong financial performance in Q1 2026, exceeding analyst expectations. The company posted earnings per share (EPS) of $0.01, significantly beating analyst estimates of a loss of -$0.01 to -$0.04 per share. Additionally, Q1 2026 revenue reached $15.1 million, surpassing estimates of $13.84 million to $14.65 million, representing a 73% increase year-over-year compared to Q1 2025. This marked a swing to a net income of $0.2 million in Q1 2026 from a net loss of $1.2 million in Q1 2025, coupled with positive operating cash flow of approximately $2.3 million to $2.4 million.
2. The company demonstrated significant growth in net product sales of PEDMARK and expanded its commercial efforts. Net product sales for PEDMARK rose to $15.1 million in Q1 2026, marking a 73% increase from $8.8 million in Q1 2025. This represents the sixth consecutive quarter of net product sales growth. Fennec Pharmaceuticals achieved record new patient enrollments in Q1 2026, with April 2026 being its highest demand month ever. The company also expanded its commercial team and sales organization, which contributed to increasing market reach and frequency, and its Fennec HEARS patient support program saw a 48% sequential increase in completed infusions and reached an 80% conversion rate into therapy.
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1. Fennec Pharmaceuticals (FENC) reported strong financial performance in Q1 2026, exceeding analyst expectations. The company posted earnings per share (EPS) of $0.01, significantly beating analyst estimates of a loss of -$0.01 to -$0.04 per share. Additionally, Q1 2026 revenue reached $15.1 million, surpassing estimates of $13.84 million to $14.65 million, representing a 73% increase year-over-year compared to Q1 2025. This marked a swing to a net income of $0.2 million in Q1 2026 from a net loss of $1.2 million in Q1 2025, coupled with positive operating cash flow of approximately $2.3 million to $2.4 million.
2. The company demonstrated significant growth in net product sales of PEDMARK and expanded its commercial efforts. Net product sales for PEDMARK rose to $15.1 million in Q1 2026, marking a 73% increase from $8.8 million in Q1 2025. This represents the sixth consecutive quarter of net product sales growth. Fennec Pharmaceuticals achieved record new patient enrollments in Q1 2026, with April 2026 being its highest demand month ever. The company also expanded its commercial team and sales organization, which contributed to increasing market reach and frequency, and its Fennec HEARS patient support program saw a 48% sequential increase in completed infusions and reached an 80% conversion rate into therapy.
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Stock Movement Drivers
Fundamental Drivers
The 30.8% change in FENC stock from 1/31/2026 to 5/25/2026 was primarily driven by a 31.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.59 | 9.93 | 30.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 39 | 51 | 31.5% |
| P/S Multiple | 5.5 | 6.7 | 22.5% |
| Shares Outstanding (Mil) | 28 | 34 | -18.8% |
| Cumulative Contribution | 30.8% |
Market Drivers
1/31/2026 to 5/25/2026| Return | Correlation | |
|---|---|---|
| FENC | 30.8% | |
| Market (SPY) | 8.1% | 33.9% |
| Sector (XLV) | -2.7% | 26.8% |
Fundamental Drivers
The 21.1% change in FENC stock from 10/31/2025 to 5/25/2026 was primarily driven by a 53.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.20 | 9.93 | 21.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 33 | 51 | 53.1% |
| P/S Multiple | 6.8 | 6.7 | -1.9% |
| Shares Outstanding (Mil) | 28 | 34 | -19.4% |
| Cumulative Contribution | 21.1% |
Market Drivers
10/31/2025 to 5/25/2026| Return | Correlation | |
|---|---|---|
| FENC | 21.1% | |
| Market (SPY) | 9.9% | 27.7% |
| Sector (XLV) | 4.8% | 24.7% |
Fundamental Drivers
The 64.4% change in FENC stock from 4/30/2025 to 5/25/2026 was primarily driven by a 94.4% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.04 | 9.93 | 64.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 48 | 51 | 7.3% |
| P/S Multiple | 3.4 | 6.7 | 94.4% |
| Shares Outstanding (Mil) | 27 | 34 | -21.2% |
| Cumulative Contribution | 64.4% |
Market Drivers
4/30/2025 to 5/25/2026| Return | Correlation | |
|---|---|---|
| FENC | 64.4% | |
| Market (SPY) | 36.0% | 35.0% |
| Sector (XLV) | 8.6% | 29.7% |
Fundamental Drivers
The 21.2% change in FENC stock from 4/30/2023 to 5/25/2026 was primarily driven by a 3222.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.19 | 9.93 | 21.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2 | 51 | 3222.4% |
| P/S Multiple | 142.9 | 6.7 | -95.3% |
| Shares Outstanding (Mil) | 27 | 34 | -22.0% |
| Cumulative Contribution | 21.2% |
Market Drivers
4/30/2023 to 5/25/2026| Return | Correlation | |
|---|---|---|
| FENC | 21.2% | |
| Market (SPY) | 86.3% | 25.1% |
| Sector (XLV) | 18.0% | 23.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FENC Return | -41% | 118% | 17% | -44% | 22% | 29% | 34% |
| Peers Return | -18% | -56% | -39% | -24% | -8% | -18% | -88% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| FENC Win Rate | 50% | 75% | 42% | 33% | 50% | 60% | |
| Peers Win Rate | 40% | 37% | 37% | 43% | 53% | 32% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| FENC Max Drawdown | -61% | -18% | -37% | -64% | -29% | -36% | |
| Peers Max Drawdown | -72% | -79% | -75% | -74% | -69% | -46% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: BYSI, GTBP, AGEN, VSTM, KPTI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/22/2026 (YTD)
How Low Can It Go
| Event | FENC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.5% | -18.8% |
| % Gain to Breakeven | 32.5% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.2% | -7.8% |
| % Gain to Breakeven | 12.6% | 8.5% |
| Time to Breakeven | 104 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.4% | -9.5% |
| % Gain to Breakeven | 25.6% | 10.5% |
| Time to Breakeven | 33 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -25.2% | -6.7% |
| % Gain to Breakeven | 33.7% | 7.1% |
| Time to Breakeven | 26 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.0% | -33.7% |
| % Gain to Breakeven | 63.9% | 50.9% |
| Time to Breakeven | 79 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -36.0% | -19.2% |
| % Gain to Breakeven | 56.2% | 23.8% |
| Time to Breakeven | 541 days | 105 days |
In The Past
Fennec Pharmaceuticals's stock fell -24.5% during the 2025 US Tariff Shock. Such a loss loss requires a 32.5% gain to breakeven.
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| Event | FENC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.5% | -18.8% |
| % Gain to Breakeven | 32.5% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.4% | -9.5% |
| % Gain to Breakeven | 25.6% | 10.5% |
| Time to Breakeven | 33 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -25.2% | -6.7% |
| % Gain to Breakeven | 33.7% | 7.1% |
| Time to Breakeven | 26 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.0% | -33.7% |
| % Gain to Breakeven | 63.9% | 50.9% |
| Time to Breakeven | 79 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -36.0% | -19.2% |
| % Gain to Breakeven | 56.2% | 23.8% |
| Time to Breakeven | 541 days | 105 days |
| 2013 Taper Tantrum | ||
| % Loss | -66.6% | -0.2% |
| % Gain to Breakeven | 199.6% | 0.2% |
| Time to Breakeven | 190 days | 1 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -41.2% | -15.4% |
| % Gain to Breakeven | 70.2% | 18.2% |
| Time to Breakeven | 151 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -96.0% | -53.4% |
| % Gain to Breakeven | 2422.4% | 114.4% |
| Time to Breakeven | 926 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -50.0% | -8.6% |
| % Gain to Breakeven | 100.0% | 9.5% |
| Time to Breakeven | 1493 days | 47 days |
In The Past
Fennec Pharmaceuticals's stock fell -24.5% during the 2025 US Tariff Shock. Such a loss loss requires a 32.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Fennec Pharmaceuticals (FENC)
Fennec Pharmaceuticals Inc., a biopharmaceutical company, develops product candidates for use in the treatment of cancer in the United States. Its lead product PEDMARK, a formulation of Sodium Thiosulfate that has completed the Phase III clinical trial for the prevention of cisplatin induced hearing loss or ototoxicity in children. The company was formerly known as Adherex Technologies Inc. and changed its name to Fennec Pharmaceuticals Inc. in September 2014. Fennec Pharmaceuticals Inc. was incorporated in 1996 and is based in Research Triangle Park, North Carolina.
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Here are a few analogies to describe Fennec Pharmaceuticals (FENC):
- A specialized biotech company, much like a smaller BioMarin Pharmaceutical, but focused on preventing hearing loss in children undergoing cancer treatment.
- Think of them as the Vertex Pharmaceuticals for preventing a specific, devastating side effect (hearing loss) in children undergoing chemotherapy.
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- PEDMARK: A formulation of Sodium Thiosulfate developed for the prevention of cisplatin-induced hearing loss (ototoxicity) in children.
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Fennec Pharmaceuticals Inc. (FENC) is a biopharmaceutical company that develops and commercializes prescription drugs. As such, it does not sell directly to individual consumers. Its major customers are typically other companies involved in the pharmaceutical supply chain, which then distribute the drug to healthcare providers and patients.
Based on the standard distribution model for biopharmaceutical companies, Fennec Pharmaceuticals' major customers would likely include:
- Pharmaceutical Wholesalers/Distributors: These companies purchase drugs in bulk from manufacturers and then distribute them to hospitals, clinics, and pharmacies. Key players in this sector that could be Fennec's customers include:
- Large Hospital Systems and Specialty Pharmacies: While often supplied through wholesalers, very large health systems (especially those with significant pediatric oncology departments) or specialized pediatric hospitals, and specialty pharmacies, might have direct purchasing agreements or be significant customers through the distribution channels due to the specific nature of PEDMARK's use.
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- Hovione Sociedade Gestora, S.A.
- IDT Biologika GmbH
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Jeffrey S. Hackman, Chief Executive Officer
Jeffrey S. Hackman was appointed Chief Executive Officer in August 2024. He previously served as a director of Fennec Pharmaceuticals. His background includes significant leadership experience in the biopharmaceutical industry.
Robert J. Andrade, Chief Financial Officer
Robert J. Andrade has served as Chief Financial Officer since November 2015. He previously held the CFO and Director role at Fennec from September 2009 to August 2013. In 2015, Mr. Andrade worked as a private investor, and from 2013 to 2014, he was a senior analyst at Magnetar Capital. He earned a Master of Arts degree and a Bachelor of Arts degree in economics from the University of Southern California.
Pierre S. Sayad, PhD, M.S., Chief Medical Officer
Dr. Pierre Sayad was appointed Chief Medical Officer on October 28, 2024. He is an accomplished biopharmaceutical executive with over 22 years of experience, having successfully launched nine novel drugs across 14 therapeutic areas, including oncology and neuroscience. Prior to joining Fennec, he served as chief operating officer and interim chief medical officer at Zephyr Labz. He is a graduate of the School of Medicine, Loma Linda University, and Harvard Business School.
Terry Evans, Chief Commercial Officer
Terry Evans was appointed Chief Commercial Officer on October 28, 2024. He is a seasoned commercial and operations leader known for driving significant revenue growth and leading high-performing teams, with extensive experience across all aspects of commercial operations. Before his appointment at Fennec, Mr. Evans was the chief executive officer of UNITE Pharma Trade Advisors.
Christiana Cioffi, MBA, Chief Strategy Officer
Christiana Cioffi was appointed Chief Strategy Officer on October 28, 2024. She is a seasoned biopharmaceutical industry executive with proven clinical, commercial, operational, and oncology market expertise.
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The key risks to Fennec Pharmaceuticals (FENC) primarily revolve around its strong reliance on its sole commercial product, PEDMARK, and the associated challenges in its market adoption and defense. Here are the key risks: 1.Single Product Dependence
Fennec Pharmaceuticals' business is almost entirely centered on the success of PEDMARK (sodium thiosulfate injection), which is indicated to reduce the risk of ototoxicity associated with cisplatin treatment in pediatric cancer patients. The company's value proposition is "inextricably linked" to the successful commercialization and market defense of this single asset. Any significant setback related to PEDMARK, such as slower-than-expected market adoption, manufacturing issues, or unexpected post-market safety concerns, could have a devastating impact on the company's valuation and financial health. 2.Commercialization and Market Penetration Challenges
Despite PEDMARK being the first and only FDA-approved therapy for its specific indication, Fennec faces substantial risks in executing its commercialization strategy and achieving widespread market penetration. The company must successfully convince oncologists to adopt PEDMARK as a standard of care and navigate complex reimbursement landscapes with payers. Analysts acknowledge an "implicit execution risk" as the investment case heavily leans on the commercial success of this single product, with any slowdown in uptake potentially weighing on the valuation. 3.Competitive and Patent Landscape Risk
While PEDMARK currently holds a temporary monopoly due to its Orphan Drug Exclusivity in the U.S. (providing market protection) and its unique approval status, the competitive landscape presents an ongoing risk. Although Fennec recently settled patent litigation with Cipla, delaying generic entry until September 1, 2033, or earlier under specific circumstances, the potential for future generic competition or challenges to its patent protection remains a concern. The risk of patents being challenged, invalidated, or circumvented by competitors is explicitly listed in the company's forward-looking statements.AI Analysis | Feedback
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The addressable markets for Fennec Pharmaceuticals' main product, PEDMARK (known as PEDMARQSI in some regions outside the U.S.), are as follows:
- United States: The addressable market in the U.S. includes approximately 2,157 estimated cisplatin-treated pediatric patients annually who are eligible for PEDMARK. An analyst estimated the peak U.S. sales potential for PEDMARK to be over $300 million.
- Europe: The addressable market in Europe includes approximately 1,250 estimated cisplatin-treated pediatric patients annually who are eligible for PEDMARQSI.
- Global Drug-Induced Ototoxicity Treatment Market: A broader global market for drug-induced ototoxicity treatment, which includes PEDMARK, was estimated at approximately $1.2 billion in 2023 and is projected to reach about $2.5 billion by 2032. North America holds the largest share of this market, estimated at around $450 million in 2023, and is expected to reach approximately $900 million by 2032.
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Fennec Pharmaceuticals (FENC) is poised for future revenue growth over the next 2-3 years, primarily driven by the continued commercialization and market expansion of its lead product, PEDMARK (sodium thiosulfate). Here are the key drivers of future revenue growth: * **Increased Adoption and Market Penetration of PEDMARK in Pediatric Patients (U.S.).** Fennec Pharmaceuticals is focused on expanding the use of PEDMARK, the first and only FDA-approved therapy to reduce cisplatin-induced ototoxicity in pediatric cancer patients, within key accounts across academic and community providers in the United States. The company's refined, targeted sales strategy and enhanced patient support services, including the Fennec HEARS™ program, are designed to facilitate broader institutional adoption and sustained growth. The company reported a 33% increase in net product sales year-over-year and 10% sequential growth in the second quarter of 2025, signaling strong commercial momentum. * **Expansion into Adolescent and Young Adult (AYA) and Adult Patient Populations (U.S.).** Beyond its current pediatric indication, Fennec is actively pursuing the expansion of PEDMARK's use into adolescent and young adult (AYA) and adult cancer patient populations. The National Comprehensive Cancer Network (NCCN) already recommends PEDMARK for AYA patients, and the company is generating clinical evidence, including investigator-initiated studies and real-world data, to support its utility in a broader range of patient demographics, such as those receiving metastatic tumor treatments and adults with head and neck cancers. * **International Commercialization of PEDMARQSI in Europe, Australia, and New Zealand.** Fennec Pharmaceuticals has established an exclusive licensing agreement with Norgine Pharmaceuticals Ltd. for the commercialization of PEDMARQSI (the European brand name for sodium thiosulfate injection) in Europe, Australia, and New Zealand. This partnership includes an upfront payment, potential commercial and regulatory milestone payments of up to approximately $230 million, and double-digit tiered royalties on net sales. PEDMARQSI has already launched commercially in Germany and the United Kingdom, indicating the initiation of international revenue streams. * **Protection of Market Exclusivity for PEDMARK.** Fennec Pharmaceuticals has successfully settled a patent litigation case with Cipla Limited, which sought to market a generic version of PEDMARK. Under the settlement terms, Cipla is restricted from entering the market with its generic product until September 1, 2033, or potentially earlier under specific circumstances. This agreement, combined with Fennec's existing patents providing protection for PEDMARK until 2039 in the U.S. and internationally, ensures crucial market exclusivity and provides a stable revenue generation period without direct generic competition.AI Analysis | Feedback
Share Repurchases
- Fennec Pharmaceuticals utilized proceeds from a November 2025 public offering and concurrent private placement to repurchase and redeem all outstanding convertible notes held by Petrichor Opportunities Fund I LP and Petrichor Opportunities Fund I Intermediate LP.
- The aggregate repurchase and redemption price for these notes was approximately $21.73 million, which covered outstanding principal, accrued interest, and a redemption fee.
- This transaction, completed in November 2025, resulted in Fennec Pharmaceuticals having no outstanding debt on its balance sheet.
Share Issuance
- In November 2025, Fennec Pharmaceuticals completed an underwritten registered public offering in the United States, selling 5,366,667 common shares (including the full exercise of the underwriters' option) at a price of $7.50 per share, generating approximately $40.25 million in total gross proceeds.
- Concurrently, in November 2025, the company engaged in a non-brokered private offering of its common shares in Canada to existing institutional shareholders, with aggregate gross proceeds of up to US$5.025 million.
Inbound Investments
- In March 2024, Fennec Pharmaceuticals entered into an exclusive licensing agreement with Norgine Pharmaceuticals Ltd. for the commercialization of PEDMARQSI® in Europe, the U.K., Australia, and New Zealand.
- Licensing revenue from the Norgine deal contributed $17,958 to Fennec Pharmaceuticals' total net revenue of $39,613 in the third quarter of 2024.
Capital Expenditures
- Fennec Pharmaceuticals reported a Capital Expenditure Compound Annual Growth Rate (CAGR) of null over the last 5 years, indicating minimal to no significant capital expenditures during this period.
- The company's latest trailing twelve months (TTM) CapEx CAGR 5YRS stands at 0%.
- Development costs, including drug substance costs, clinical study expenses, and regulatory expenses, are expensed as incurred rather than capitalized.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Fennec Pharmaceuticals Earnings Notes | 12/16/2025 | |
| With Fennec Pharmaceuticals Stock Down 7.4% In A Week, How Confident Are You? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 3.67 |
| Mkt Cap | 0.1 |
| Rev LTM | 50 |
| Op Inc LTM | -11 |
| FCF LTM | -39 |
| FCF 3Y Avg | -62 |
| CFO LTM | -39 |
| CFO 3Y Avg | -61 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 44.7% |
| Rev Chg 3Y Avg | 18.7% |
| Rev Chg Q | 40.2% |
| QoQ Delta Rev Chg LTM | 11.4% |
| Op Inc Chg LTM | 18.6% |
| Op Inc Chg 3Y Avg | 12.4% |
| Op Mgn LTM | -33.4% |
| Op Mgn 3Y Avg | -61.6% |
| QoQ Delta Op Mgn LTM | 15.3% |
| CFO/Rev LTM | -54.9% |
| CFO/Rev 3Y Avg | -69.7% |
| FCF/Rev LTM | -54.9% |
| FCF/Rev 3Y Avg | -69.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.1 |
| P/S | 3.9 |
| P/Op Inc | -2.3 |
| P/EBIT | -1.7 |
| P/E | -1.5 |
| P/CFO | -2.9 |
| Total Yield | -29.2% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -97.2% |
| D/E | 0.1 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.8% |
| 3M Rtn | -0.5% |
| 6M Rtn | -21.8% |
| 12M Rtn | -13.1% |
| 3Y Rtn | -70.8% |
| 1M Excs Rtn | -11.2% |
| 3M Excs Rtn | -9.8% |
| 6M Excs Rtn | -35.2% |
| 12M Excs Rtn | -38.7% |
| 3Y Excs Rtn | -124.5% |
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA212937 | PEDMARK | sodium thiosulfate | solution | 9202022 | 28.3% | 4.7% | -0.1% | -30.7% | 30.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Gross product revenues | 39 | ||||
| Licensing revenue | 18 | ||||
| Discounts and allowances | -9 | ||||
| Production and commercialization of PEDMARK | 21 | ||||
| Net product revenues | 2 | ||||
| Total | 48 | 21 | 2 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Production and commercialization of PEDMARK | 22 | 31 | |||
| Total | 22 | 31 |
Price Behavior
Price Behavior
| Market Price | $9.93 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | -0.4% | |
| 50 Days | 200 Days | |
| DMA Price | $7.10 | $7.97 |
| DMA Trend | down | down |
| Distance from DMA | 39.8% | 24.6% |
| 3M | 1YR | |
| Volatility | 99.9% | 63.9% |
| Downside Capture | 376.97 | 203.06 |
| Upside Capture | 291.32 | 167.93 |
| Correlation (SPY) | 36.9% | 34.9% |
FENC Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.03 | 2.47 | 1.89 | 1.34 | 1.71 | 0.93 |
| Up Beta | 2.46 | 2.70 | 2.11 | 1.92 | 2.16 | 0.58 |
| Down Beta | -8.07 | 0.06 | -0.05 | 0.75 | 1.26 | 0.86 |
| Up Capture | 247% | 218% | 232% | 102% | 181% | 102% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 20 | 33 | 58 | 117 | 357 |
| Down Capture | 984% | 340% | 231% | 151% | 151% | 107% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 9 | 22 | 30 | 64 | 127 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FENC | |
|---|---|---|---|---|
| FENC | 20.9% | 63.8% | 0.53 | - |
| Sector ETF (XLV) | 16.0% | 14.5% | 0.80 | 29.1% |
| Equity (SPY) | 29.5% | 12.0% | 1.86 | 34.8% |
| Gold (GLD) | 35.5% | 26.8% | 1.11 | -0.6% |
| Commodities (DBC) | 42.9% | 18.7% | 1.77 | -20.0% |
| Real Estate (VNQ) | 15.2% | 13.1% | 0.82 | 23.8% |
| Bitcoin (BTCUSD) | -31.3% | 41.8% | -0.78 | 17.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FENC | |
|---|---|---|---|---|
| FENC | 9.6% | 59.2% | 0.41 | - |
| Sector ETF (XLV) | 5.7% | 14.7% | 0.21 | 17.3% |
| Equity (SPY) | 14.0% | 17.0% | 0.64 | 19.8% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 1.6% |
| Commodities (DBC) | 10.4% | 19.4% | 0.42 | 3.0% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 14.7% |
| Bitcoin (BTCUSD) | 11.6% | 55.3% | 0.41 | 9.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FENC | |
|---|---|---|---|---|
| FENC | -1.8% | 59.9% | 0.23 | - |
| Sector ETF (XLV) | 9.9% | 16.5% | 0.49 | 21.1% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 25.1% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 5.6% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 10.7% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 19.4% |
| Bitcoin (BTCUSD) | 66.7% | 66.9% | 1.06 | 12.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/24/2026 | 2.5% | 2.2% | 10.6% |
| 3/10/2025 | 4.7% | 3.4% | -18.0% |
| 3/25/2024 | -1.0% | -0.1% | -17.5% |
| 11/7/2023 | -6.6% | -0.7% | 14.1% |
| 8/4/2023 | 0.2% | 4.5% | 4.5% |
| SUMMARY STATS | |||
| # Positive | 3 | 3 | 3 |
| # Negative | 2 | 2 | 2 |
| Median Positive | 2.5% | 3.4% | 10.6% |
| Median Negative | -3.8% | -0.4% | -17.8% |
| Max Positive | 4.7% | 4.5% | 14.1% |
| Max Negative | -6.6% | -0.7% | -18.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/27/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/26/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 03/29/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Rallis, Chris A | Direct | Sell | 5122026 | 7.04 | 8,346 | 58,756 | 444,062 | Form | |
| 2 | Raykov, Rosty | Direct | Sell | 5012026 | 6.47 | 10,781 | 69,753 | 785,788 | Form | |
| 3 | Raykov, Rosty | Direct | Sell | 4022026 | 6.31 | 10,946 | 69,069 | 718,431 | Form | |
| 4 | Raykov, Rosty | Direct | Sell | 3032026 | 8.36 | 10,079 | 84,260 | 869,407 | Form | |
| 5 | Raykov, Rosty | Direct | Sell | 2022026 | 7.76 | 10,349 | 80,308 | 764,182 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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