Full Press Release Details
FENNEC PHARMACEUTICALS
ANNOUNCES PROPOSED OFFERING OF COMMON SHARES
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 offer and sell its common shares in an underwritten registered public offering. In addition,
Fennec intends to grant the underwriters a 30-day option to purchase up to an additional 15% of its common shares sold in the public offering.
Fennec intends to use the net proceeds of the
proposed offering to repurchase and redeem certain indebtedness and the remaining net proceeds, if any, for working capital and general
Piper Sandler & Co. and Craig-Hallum Capital
Group LLC are acting as the joint book-running managers for the proposed public offering.
The common shares are being offered by the Company
pursuant to a registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC").
A preliminary prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC and will be available
on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus,
when filed with the SEC, may also be obtained from Piper Sandler & Co., Attention: Prospectus Department, 350 North 5th Street, Suite
1000, Minneapolis, Minnesota 55401, by telephone at (800) 747-3924 or by email at prospectus@psc.com and Craig-Hallum Capital Group LLC,
Attention: Equity Capital Markets, 323 North Washington Ave., Minneapolis, MN 55401, by telephone at (612) 334-6300 or by email at prospectus@chlm.com.
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. The common shares in the proposed offering will not be offered or sold, directly or indirectly, in Canada
or to any resident of Canada.
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