RESEARCH TRIANGLE PARK, N.C., May 05, 2020 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (Nasdaq: FENC) (TSX: FRX), a specialty pharmaceutical company focused on the development of PEDMARKTM (a unique formulation of sodium thiosulfate ) for the prevention of platinum-induced ototoxicity from cisplatin in pediatric cancer patients, today announced the closing of its previously announced underwritten public offering of 4,800,000 common shares at a public offering price of $6.25 per share. In addition, Fennec has granted the underwriters a 30-day option to purchase up to an additional 720,000 common shares. The total gross proceeds from the offering (before deducting the underwriting discounts and offering expenses) is $30,000,000, excluding any exercise of the underwriters’ option to purchase additional shares.
Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering. Wedbush PacGrow acted as the co-manager.
About Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company focused on the development of PEDMARK™ for the prevention of platinum-induced ototoxicity in pediatric patients. Further, PEDMARK has received Orphan Drug Designation in the U.S. for this potential use. The FDA has accepted for filing the Company’s New Drug Application (NDA) for PEDMARK™ and has granted Priority Review. Fennec has a license agreement with Oregon Health and Science University (OHSU) for exclusive worldwide license rights to intellectual property directed to sodium thiosulfate and its use for chemoprotection, including the prevention of ototoxicity induced by platinum chemotherapy, in humans.
