• Net Product Sales: $8.8 million in Q1 2025, reflecting an 18% growth compared to Q1 2024 and an 11% increase over Q4 2024.

• Selling and Marketing Expenses: $2.9 million in Q1 2025, down from $3.9 million in Q4 2024 and $5.2 million in Q1 2024.

• General and Administrative Expenses: $6.1 million in Q1 2025, compared to $4.1 million in Q4 2024 and $5.9 million in Q1 2024.

• Cash and Cash Equivalents: $22.6 million as of March 31, 2025.

• Cash Burn: Approximately $4 million in Q1 2025.

• Warning! GuruFocus has detected 3 Warning Signs with FENC.

Release Date: May 13, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Fennec Pharmaceuticals Inc (NASDAQ:FENC) reported an 18% growth in net product sales for Q1 2025 compared to the same period last year, indicating strong market performance.

• The company has successfully implemented a sophisticated targeting model to enhance field execution and engagement, focusing on high-prescribing cisplatin users.

• PEDMARK has been integrated into treatment plans at major institutions like Tampa General Hospital and City of Hope, validating its clinical utility.

• Fennec Pharmaceuticals Inc (NASDAQ:FENC) has launched PEDMARK commercially in Germany and the UK, with positive early indicators of engagement and uptake.

• The company is actively enhancing its Fennec HEARS patient support program to improve access, streamline reimbursement, and expand home nursing capabilities, which has led to improved patient adherence.

Negative Points

• The company recorded a cash burn of approximately $4 million in Q1 2025, indicating ongoing financial pressure.

• General and administrative expenses increased quarter-over-quarter, largely due to non-cash-based stock compensation.

• Despite growth, the company is not yet at a cash flow breakeven point, requiring $8.5 million to $9 million in sales to achieve this.

• There is still a significant lack of awareness about the impact of ototoxicity and PEDMARK among some healthcare providers.

• The company faces challenges in ensuring adherence to PEDMARK treatment, with only about 50% of patients completing the full course.

Q & A Highlights

Q: Can you provide insights on the average number of vials per patient in the AYA segment and how adherence has improved with your patient support program? A: Jeffrey Hackman, CEO: On average, we see about 30 vials per patient in the AYA space, with adherence around 50%. We've focused on improving adherence through our Fennec HEARS program, which was initially designed for pediatric use but is now being adapted for home administration to enhance adherence.