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Fennec Pharmaceuticals ( (TSE:FRX) ) has issued an update.
Fennec Pharmaceuticals has successfully completed the full redemption of its outstanding convertible notes issued to Petrichor Opportunities Fund, using proceeds from a recent public offering and private placement. This move leaves the company with no outstanding debt, potentially strengthening its financial position and operational flexibility. The redemption involved a total payment of over $21 million, covering principal, accrued interest, and a redemption fee. This strategic financial maneuver could enhance Fennec’s market positioning and stakeholder confidence.
The most recent analyst rating on (TSE:FRX) stock is a Buy with a C$13.00 price target. To see the full list of analyst forecasts on Fennec Pharmaceuticals stock, see the TSE:FRX Stock Forecast page.
Spark’s Take on TSE:FRX Stock
According to Spark, TipRanks’ AI Analyst, TSE:FRX is a Neutral.
Fennec Pharmaceuticals shows strong revenue growth and improved cash flow, key for its industry. However, profitability issues and a weak balance sheet weigh down the score. Technical indicators and valuation reflect mixed signals, while positive earnings call sentiments provide some optimism. Addressing financial challenges will be crucial for future performance.
To see Spark’s full report on TSE:FRX stock, click here.
More about Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company focused on combating ototoxicity in cancer patients undergoing cisplatin-based chemotherapy. The company is primarily engaged in the commercialization of PEDMARK, a product designed to reduce the risk of platinum-induced ototoxicity, which has received regulatory approvals in the U.S., Europe, and the U.K. Fennec has also secured an exclusive licensing agreement with Norgine Pharmaceuticals Ltd. for the commercialization of PEDMARQSI in Europe, the U.K., Australia, and New Zealand.
Average Trading Volume: 1,289
Technical Sentiment Signal: Buy
Current Market Cap: C$350.1M
Learn more about FRX stock on TipRanks’ Stock Analysis page.