RESEARCH TRIANGLE PARK, N.C., May 08, 2020 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (Nasdaq: FENC) (TSX: FRX), a specialty pharmaceutical company focused on the development of PEDMARK^TM (a unique formulation of sodium thiosulfate ) for the prevention of platinum-induced ototoxicity from cisplatin in pediatric cancer patients, today announced that in connection with its previously completed underwritten offering on May 4, 2020 of $30,000,000 at a price of $6.25 per share, the option granted to the underwriters was exercised for 660,204 shares at a price of $6.25 per share for additional gross proceeds of $4,126,275. The sale of the additional shares under the exercise of the underwriters’ option brings the total aggregate proceeds from the offering (before deducting the underwriting discounts and offering expenses) to $34,126,275.

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.