November 18, 2025 — RESEARCH TRIANGLE PARK, N.C. — Leads & Copy — Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX) has completed its underwritten registered public offering of 5,366,667 common shares at a price of $7.50 per share, which includes the exercise in full of the underwriters’ option to purchase additional common shares.
The offering generated gross proceeds of approximately $40,250,000 for Fennec before deducting underwriting discounts and offering expenses.
The company plans to use the net proceeds to repurchase and redeem certain indebtedness, with the remaining funds allocated for working capital and general corporate purposes.
Piper Sandler & Co. and Craig-Hallum Capital Group LLC served as the joint book-running managers for the offering. H.C. Wainwright & Co. was the lead manager, and Stephens Inc. acted as co-manager.
The offering was conducted under a registration statement previously filed with the Securities and Exchange Commission (SEC), which declared it effective. The final prospectus supplement and accompanying prospectus are available on the SEC’s website.
Copies of the final prospectus supplement and accompanying prospectus can be obtained from:
- Piper Sandler & Co., Attention: Prospectus Department, 350 North 5th Street, Suite 1000, Minneapolis, MN 55401, by telephone at (800) 747-3924 or by email at prospectus@psc.com.
- 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 announcement is not an offer to sell or a solicitation of an offer to buy common shares, nor will there be any sale of common shares in any jurisdiction where such an offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that jurisdiction. The common shares in the offering will not be offered or sold, directly or indirectly, in Canada or to any resident of Canada. Fennec is relying upon the exemption set forth in Section 602.1 of the TSX Company Manual.
Fennec Pharmaceuticals Inc. is focused on commercializing PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK® received FDA approval in September 2022, European Commission approval in June 2023, and U.K. approval in October 2023 under the brand name PEDMARQSI®.
In March 2024, Fennec entered into an exclusive licensing agreement with Norgine Pharmaceuticals Ltd. to commercialize PEDMARQSI® in Europe, the U.K., Australia, and New Zealand. PEDMARQSI® is commercially available in the U.K. and Germany.
PEDMARK® has Orphan Drug Exclusivity in the U.S., and PEDMARQSI® has Pediatric Use Marketing Authorization in Europe. Fennec holds patents providing protection for PEDMARK® until 2039 in the U.S. and internationally.
Robert Andrade, Chief Financial Officer, Fennec Pharmaceuticals Inc., +1 919-246-5299
Lindsay Rocco, Elixir Health Public Relations, +1 862-596-1304, lrocco@elixirhealthpr.com
Source: Fennec Pharmaceuticals Inc.
