Full Press Release Details
FENNEC PHARMACEUTICALS
PRIVATE OFFERING OF COMMON SHARES IN CANADA
Research Triangle Park, NC, November 13,
2025 - Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX) ("Fennec" or the "Company"), a specialty
pharmaceutical company, today announced that it intends to engage in a non-brokered offering of its common shares in Canada, at a price
of US$7.50 per share, with certain of its existing institutional shareholders, for aggregate gross proceeds of up to US$5,025,000. The
offering is expected to close on November 17, 2025, subject to the Company entering into subscription agreements with investors in
the offering, if any, and certain customary closing conditions including, but not limited to, the receipt of all necessary approvals,
including approval from the Toronto Stock Exchange ("TSX").
The offering is being made to prospective purchasers
resident in any province in Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A of National
Instrument 45-106 - Prospectus Exemptions and the Company expects to register any common shares issued in the offering, if any, under
the Securities Act of 1933, as amended, pursuant to a prospectus supplement and accompanying prospectus. As the offering is being completed
pursuant to the listed issuer financing exemption, the common shares issued pursuant to the offering will not be subject to a hold period
pursuant to applicable Canadian securities laws. There are no assurances that the offering will be completed or, if completed, the amount
of aggregate gross proceeds that will be raised through the offering.
There is an offering document related to the offering
that can be accessed under the Company's profile at www.sedarplus.com and at www.fennecpharma.com. Prospective investors in the
Canadian offering should read this offering document before making an investment decision.
The common shares in the offering will offered
and sold solely in Canada. This press release shall not constitute an offer to sell or the solicitation of an offer to buy common shares,
nor shall there be any sale of common shares, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such state or jurisdiction.
Fennec is relying upon the exemption set forth
in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving
eligible interlisted issuers on a recognized exchange, such as Nasdaq.
About Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc. is a specialty pharmaceutical
company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the
commercialization of PEDMARK to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK
received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom (U.K.) approval in
October 2023 under the brand name PEDMARQSI .
In March 2024, Fennec entered into an exclusive
licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, will commercialize
PEDMARQSI in Europe, U.K., Australia and New Zealand. PEDMARQSI is now commercially available in the U.K.
PEDMARK has received Orphan Drug
Exclusivity in the U.S. and PEDMARQSI has received Pediatric Use Marketing Authorization in Europe which includes eight
years plus two years of data and market protection. Further, Fennec has patents providing protection for PEDMARK until
2039 in both the U.S. and internationally.
Forward Looking Statements
Except for historical information described
in this press release, all other statements are forward-looking. Words such as "believe," "anticipate," "plan,"
"expect," "estimate," "intend," "may," "will," or the negative of those terms,
and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include, among other things,
statements regarding the Company's expectations on the timing, size and completion of the offering. Forward-looking statements are
subject to certain risks and uncertainties inherent in the Company's business that could cause actual results to vary, including
the risks and uncertainties that regulatory and guideline developments may change, scientific data and/or manufacturing capabilities may
not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be
replicated in actual patient settings, unforeseen global instability, including political instability, or instability from an outbreak
of pandemic or contagious disease, such as the novel coronavirus (COVID-19), or surrounding the duration and severity of an outbreak,
protection offered by the Company's patents and patent applications may be challenged, invalidated or circumvented by its competitors,
the available market for the Company's products will not be as large as expected, the Company's products will not be able
to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, the Company's
ability to obtain necessary capital when needed on acceptable terms or at all, and other risks detailed from time to time in the Company's
filings with the SEC including its Annual Report on Form 10-K for the year ended December 31, 2024. Fennec disclaims any obligation
to update these forward-looking statements except as required by law.
For a more detailed discussion of related risk
factors, please refer to our public filings available at www.sec.gov and www.sedar.com.
and Fennec are registered trademarks of Fennec Pharmaceuticals Inc.
2025 Fennec Pharmaceuticals Inc. All rights
For further information, please contact:
Chief Financial Officer
Fennec Pharmaceuticals Inc.
Corporate and Media:
Elixir Health Public Relations