FENNEC PHARMACEUTICALS INC. FENC

Healthcare SIC 2836 - Biological Products, (No Diagnostic Substances) NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Biological Product (except Diagnostic) Manufacturing derived Nasdaq

You are urged to read this Annual Report on Form 10-K ("Annual Report") in its entirety. "We," "our," "ours," "us," "Fennec," or the "Company," when used herein, refers to Fennec Pharmaceuticals Inc., a British Columbia corporation, and its wholly-owned subsidiary, Fennec Pharmaceuticals, Inc., a Delaware corporation.

The following is a summary of the principal risks that could adversely affect our business, operations, and financial results. A more thorough discussion of these and other risks follows this summary.

● We have a history of significant losses and have generated limited revenue from the sale of products since our inception.

● We may be required to conduct additional clinical trials for PEDMARK®, which would be costly and time-consuming to complete.

Last close 10.08 2026-10-23
Market cap $353.5M 2026-06-30 share count
52-week range 5.65 - 13.25

Valuation FY2025 figures against the last close

P/S7.9x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.34

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $44.6M$47.5M$21.3M$1.8M—$170.0K$0$0$0$0
Cost of revenue ——$1.3M$86.0K——————
Gross profit ——$20.0M$1.4M——————
R&D $250.0K$307.0K$56.0K$3.5M$5.0M$5.1M$5.6M$5.0M$1.9M$472.0K
SG&A $28.3M$23.1M$20.6M$17.7M$12.2M$12.9M$7.4M$5.4M$5.0M$2.4M
Total operating expenses $50.9M$45.0M$34.0M$24.0M$17.2M$18.1M$13.0M———
Operating income -$6.3M$2.6M-$12.8M-$22.6M-$17.2M-$17.9M-$13.0M-$10.4M-$7.0M-$2.9M
Interest expense ——$441.0K$195.0K——————
Pre-tax income -$9.6M-$71.0K-$16.0M-$23.7M-$17.3M-$18.1M-$12.8M-$9.9M-$7.0M-$2.8M
Income tax $106.0K$365.0K—$0$0$0$0$0$0$0
Net income -$9.74B-$436.0M-$16.05B-$23.7M-$17.3M-$18.1M-$12.8M-$9.9M-$7.0M-$2.8M
EPS, basic -0.34-0.02-0.60-0.90-0.67-0.76————
EPS, diluted -0.34-0.02-0.60-0.90-0.67-0.76-0.64-0.52-0.47-0.22
Shares, diluted (wtd. avg.) 28.6M27.3M26.6M26.3M26.0M23,70419.9M18.9M15.0M12.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $36.8M$26.6M$13.3M$23.8M$21.1M$30.3M$13.7M$22.8M$28.3M$3.9M
Total current assets $67.0M$44.1M$26.9M$26.7M$22.4M$31.4M$13.9M$22.9M——
Total assets $70.6M$44.9M$26.9M$26.9M$22.4M$31.4M$14.1M$22.9M$28.4M$4.0M
Accounts payable $4.6M$3.2M$3.8M$2.4M$777.0K$1.6M$1.6M$1.0M$855.0K$244.0K
Total current liabilities $10.5M$6.9M$7.6M$4.6M$1.7M$2.3M$2.3M$1.6M$1.6M$402.0K
Long-term debt —$19.3M$30.9M$24.9M——————
Total liabilities $35.1M$50.8M$38.5M$29.5M$6.6M$2.3M$2.3M$1.6M$1.6M$402.0K
Retained earnings -$229.4M-$219.7M-$219.2M-$203.2M-$179.5M-$162.1M-$144.0M-$131.3M-$121.4M-$114.3M
Total equity $35.5M-$5.9M-$11.6M-$2.6M$15.8M$29.1M$11.9M$21.3M$26.8M$3.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$12.5M$27.0M-$17.1M-$18.1M-$14.2M-$15.6M-$9.1M-$7.8M-$3.6M-$2.1M
Stock-based compensation $7.0M$5.1M$5.4M$4.1M$3.7M$2.8M$2.7M$1.8M$1.5M$615.0K
Investing cash flow ———————$0$0$0
Financing cash flow $22.6M-$13.6M$6.6M$20.7M$5.0M$32.3M-$71.0K$2.3M$28.0M$5.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-050339.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -20B -15B -10B -5B 0 5B Revenue, FY2016: 0 Net income, FY2016: -2.8M Revenue, FY2017: 0 Net income, FY2017: -7M Revenue, FY2018: 0 Net income, FY2018: -9.9M Revenue, FY2019: 0 Net income, FY2019: -12.8M Revenue, FY2020: 170K Net income, FY2020: -18.1M Net income, FY2021: -17.3M Revenue, FY2022: 1.8M Gross profit, FY2022: 1.4M Net income, FY2022: -23.7M Revenue, FY2023: 21.3M Gross profit, FY2023: 20M Net income, FY2023: -16B Revenue, FY2024: 47.5M Net income, FY2024: -436M Revenue, FY2025: 44.6M Net income, FY2025: -9.7B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $0 $0 $0 $0 $170.0K — $1.8M $21.3M $47.5M $44.6M
Gross profit — — — — — — $1.4M $20.0M — —
Net income -$2.8M -$7.0M -$9.9M -$12.8M -$18.1M -$17.3M -$23.7M -$16.05B -$436.0M -$9.74B

Recent filings and events

  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Other event Item 8.01
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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