Fennec Pharmaceuticals Inc. (FENC) Stock

Fennec Pharmaceuticals Inc. (FENC) is a Healthcare stock trading at $11.29 (as of 2026-08-21), with a market capitalization of $395.91M and a trailing P/E of 227.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Fennec Pharmaceuticals Inc. is a biopharmaceutical company with PEDMARK, a clinical-stage formulation of sodium thiosulfate intended to help prevent platinum-induced ototoxicity in pediatric cancer patients. The company is based in Research Triangle Park, North Carolina.

Understand Fennec Pharmaceuticals Inc.: how it makes money

Fennec Pharmaceuticals develops and commercializes biopharmaceuticals, including PEDMARK (sodium thiosulfate) to help prevent platinum-induced ototoxicity in pediatric cancer patients, and it also reports licensing revenue related to the Norgene transaction.

In the provided quarter, the companys revenue mix is driven by two streams, licensing revenue from the Norgene transaction and PEDMARK net revenues, so profitability depends on both transaction-driven licensing and ongoing PEDMARK commercialization.

Revenue by segment (latest quarter)
Norgene licensing	$0.0B
PEDMARK	$0.0B

Business quality (Weak): The financial snapshot shows revenue of 0.0B for the quarter, while the provided segment candidates total only 0.03B and are small in scale, so details on the sustainability of revenue and profitability are limited in this dataset.

Bull case

Licensing revenue is present, with 0.02B reported from the Norgene transaction in the provided data: This indicates the company has at least one revenue driver beyond PEDMARK net revenues in the period.
Fennec Hears Patient Support Program Conversion Rate is 70.0%: A higher conversion rate can support patient flow into therapy and strengthen PEDMARK-related commercialization.

Bear case

Operating margin is negative at -0.8% in the latest quarter provided: The business is not yet covering operating costs from operations based on this snapshot.
PEDMARK and licensing together sum to a very small revenue scale in the provided data (0.03B total across the two candidates): With limited revenue magnitude, results may be sensitive to changes in transaction timing and PEDMARK performance, and the dataset does not show a larger, steady revenue base.
Adolescent and Young Adult Patient Full Adherence Rate is 50.0%: Full adherence is not at 100% in the provided KPI set, which can limit realized therapeutic outcomes and downstream economics.

Valuation — source: SEC EDGAR (first-party)
Price	$11.29
Market Cap	$395.91M
P/E Ratio	227.9
EV / EBITDA	270.7
Price / Book	9.33
Price / Sales	6.54

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$44.64M
Net Margin	-21.8%
Revenue Growth (YoY)	-6.1%
EPS Growth (YoY)	1600.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.41 (safe)

Valuation vs Sector & Industry
Stock P/E	227.9
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2
vs Sector	948.6%
vs Industry	1227.1%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	Rosalind Advisors, Inc. ($17.89M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Jeffrey S. Hackman
Employees	32
Country	US
IPO Date	2017-09-15

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.