Full Press Release Details
NEW YORK, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed against Fennec Pharmaceuticals Inc. (“Fennec” or the “Company”) (NASDAQ: FENC) filed in the United States District Court for the Middle District of North Carolina on behalf of a class consisting of all persons and entities that purchased or otherwise acquired Fennec securities between May 28, 2021 and November 26, 2021, both dates inclusive (the “Class Period”).
All investors who purchased the shares of Fennec Pharmaceuticals Inc. (“Fennec” or the “Company”) (NASDAQ: FENC) and certain of its officers and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in Fennec Pharmaceuticals Inc. (“Fennec” or the “Company”) (NASDAQ: FENC) and certain of its officers, you may, no later than April 11, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Fennec Pharmaceuticals Inc.
PLEASE CLICK HERE TO JOIN THE CASE
In December 2018, Fennec initiated a rolling New Drug Application (“NDA”) with the U.S. Food and Drug Administration (“FDA”) for PEDMARK for the prevention of ototoxicity induced by cisplatin chemotherapy in patients 1 month to < 18 years of age with localized, non-metastatic, solid tumors, which was completed in February 2020 (the “Initial Pedmark NDA”).
In August 2020, Fennec announced that it had received a Complete Response Letter (“CRL”) from the FDA for the Initial Pedmark NDA because of deficiencies identified at the manufacturing facility of the Company’s drug product manufacturer.
Then, in May 2021, the Company announced that it had resubmitted the NDA for PEDMARK with the FDA following receipt of final minutes from a Type A meeting with the FDA (the “Resubmitted Pedmark NDA”).
On November 29, 2021, during pre-market hours, Fennec issued a press release “announc[ing] that it expects to receive a [CRL] after the PDUFA [Prescription Drug User Fee Act] target action date of November 27, 2021 from the [FDA] regarding its [Resubmitted Pedmark NDA].” Specifically, Fennec advised investors that “[t]he FDA has indicated that, following a recent completion of a pre-approval inspection of the manufacturing facility of our drug product manufacturer, deficiencies have been identified[,]” and that “[o]nce the official CRL is received, the Company plans to request a Type A meeting to discuss the deficiencies and steps required for the resubmission of the NDA for PEDMARKTM.”
On this news, Fennec’s common share price fell $4.86 per share, or 50.41%, to close at $4.78 per share on November 29, 2021.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
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