Fennec Pharmaceuticals Prices Public Offering to Raise $35 Million

Fennec Pharmaceuticals ( (TSE:FRX) ) just unveiled an update.

Fennec Pharmaceuticals announced the pricing of its public offering of 4,666,667 common shares at $7.50 per share, expecting to raise approximately $35 million. The proceeds will be used to repurchase and redeem certain indebtedness and for general corporate purposes, potentially impacting the company’s financial stability and market positioning.

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 dedicated to 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 secured a licensing agreement with Norgine Pharmaceuticals Ltd. for the commercialization of PEDMARQSI® in Europe, the U.K., Australia, and New Zealand.

Average Trading Volume: 1,137

Technical Sentiment Signal: Buy

Current Market Cap: C$305.6M

For an in-depth examination of FRX stock, go to TipRanks’ Overview page.