Fennec Pharmaceuticals Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update

Executive Summary

• Record FY 2025 net product sales of $44.6 M (↑50% YoY) and Q4 sales of $13.8 M (↑75% YoY).
• Completed an oversubscribed $42 M equity offering, boosting cash to $36.8 M and eliminating all debt.
• Positive topline results from the STS‑J01 Phase 2/3 trial in Japan showing PEDMARK® protects hearing without compromising efficacy; additional institution‑led studies launched in the U.S.

Key Details

• Revenue & Sales – FY 2025 product sales $44.6 M vs. $29.6 M (2024); Q4 2025 $13.8 M vs. $7.9 M (Q4‑24). Licensing revenue $0 in FY 2025, $17.96 M in FY 2024.
• Operating Expenses – Selling & marketing $18.6 M (FY 2025) vs. $18.4 M (2024); G&A $28.8 M vs. $23.1 M; R&D $0.25 M vs. $0.50 M.
• Net Loss – FY 2025 net loss $(10.1 M) versus a small profit in 2024; loss per share $(0.35).
• Cash Position – Cash & equivalents $36.8 M (Dec 31 2025), up $10.2 M from prior year, driven by $42 M equity proceeds and $21.5 M debt repayment. Debt balance $0 as of Dec 31 2025.
• Equity Offering – Completed oversubscribed $42 M public/private equity raise; participation from new and existing investors.
• Clinical Updates
• New real‑world data (Feb 2026) in head & neck cancer adults showing safe administration ≥6 h post‑cisplatin.
• Institution‑led studies launched: City of Hope (testicular germ cell tumors) and Tampa General Hospital (AYA & adult cisplatin patients).
• STS‑J01 Phase 2/3 trial in Japan (Dec 2025) positive topline results for pediatric/AYA patients; pursuing Japanese registration and partnership/licensing.
• Field Expansion – Expanded customer‑facing sales team in Q4 to accelerate market penetration.
• Upcoming Investor Events – Management one‑on‑one meetings at Piper Sandler Spring Biopharma Symposium (April 15‑16, 2026).

Notable Quotes

“Our 2025 results validate that our strategy is clear…record net product sales, significant growth within our Fennec HEARS® program, and advanced independent clinical evidence generation for PEDMARK®.” – Jeff Hackman, CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the company’s filings.