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FENNEC PHARMACEUTICALS INC.

(FENC)
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Fennec Shares Plunge as Pedmark Appears Headed for FDA Rejection

11/29/2021 | 10:35am EST

By Colin Kellaher

Shares of Fennec Pharmaceuticals Inc. lost nearly half their value Monday after the specialty pharmaceutical company's latest regulatory setback for its lead product candidate Pedmark.

The Durham, N.C., company said it expects the U.S. Food and Drug Administration will again turn away its application for Pedmark due to issues at the plant where the drug is made after a similar rejection last year.

Fennec, which is seeking approval of Pedmark for the prevention of hearing loss associated with cisplatin chemotherapy in children, said it expects the FDA will issue a complete response letter, indicating that the agency won't approve the application in its current form.

The FDA had set a target action date of Nov. 27 for Fennec's resubmission of its Pedmark application following last year's rejection.

Fennec shares were recently down 48.2% to $4.99 after hitting a 52-week low of $4.83 early in the session.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

11-29-21 1034ET

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Analyst Recommendations on FENNEC PHARMACEUTICALS INC.
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Financials (USD)
Sales 2021 25,0 M - -
Net income 2021 6,55 M - -
Net Debt 2021 - - -
P/E ratio 2021 18,0x
Yield 2021 -
Capitalization 118 M 118 M -
Capi. / Sales 2021 4,73x
Capi. / Sales 2022 -
Nbr of Employees 9
Free-Float 83,1%
Chart FENNEC PHARMACEUTICALS INC.
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Fennec Pharmaceuticals Inc. Technical Analysis Chart | FENC | CA31447P1009 | MarketScreener
Technical analysis trends FENNEC PHARMACEUTICALS INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 4,55 $
Average target price 10,80 $
Spread / Average Target 137%
EPS Revisions
Managers and Directors
Rostislav C. Raykov Chief Executive Officer & Director
Robert C. Andrade Chief Financial Officer
Khalid Islam Chairman
Chris A. Rallis Independent Director
Adrian James Haigh Independent Director
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