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Fennec Pharmaceuticals Inc. (FENC) stock

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NASDAQ: FENC Nasdaq Biotechnology Next results ~November 12, 2026

B Fundamentals grade

Fennec Pharmaceuticals Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$12

Valuation models combined (4)

Base case. Range ~$9.0–$14. Weighted average of 4 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Fennec Pharmaceuticals Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 19 sales by directors and officers, last 12 monthsInsider trades
  • Funds69 adding, 26 cuttingOf 23 active managers that changed their stake, 19 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Fennec Pharmaceuticals files

Where Fennec Pharmaceuticals stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $59m, up 77.8% on a year earlier, faster than the 65.0% growth a quarter earlier. Free-cash-flow margin rose to -3.4% from -35.1% a year earlier. Operating margin widened to -1.9% from -29.1%. The diluted share count is up 23.6% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 3 financial-health checks. Our revenue-to-maturity cash-flow model value is $15.13 a share, against a share price of $10.78.

Source: 10-Q filed August 13, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Fennec Pharmaceuticals Inc.'s trailing-twelve-month revenue grew 77.8% year on year, with a free-cash-flow margin of -3.4%. Where it lags: long-term debt as % of assets of 39.3% ranks 63 of 78 biotechnology companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 77.8% (+12.8pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 77.8% over the last 12 months, against a median of 12.6% for biotechnology companies we cover.
  • Growth speeding up. The growth rate is 12.8 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 27.2 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 6.5% over 90 days.

Things to watch

  • Loss-making. Operating margin is -1.9%: costs exceed revenue.
  • Burning cash. Free cash flow was -3.4% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 23.6% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 66% and a beta of 1.4 against the S&P 500.
  • Insiders selling. 8 insiders sold $12M of stock over the past 365 days and none bought (17% under pre-set trading plans).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 39.3% ranks 63 of 78 biotechnology companies we cover (median 20.6%).

Latest results: FY2026 Q2

Filed August 13, 2026
Earnings per share
$0.05 against an average estimate of $0.02: beat by 127.3%
Revenue
$18m, up 85.2% on a year earlier
Next report
November 12, 2026; average EPS estimate $0.11

Fennec Pharmaceuticals' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.9%
  • 1 week+3.8%
  • 1 month+3.3%
  • This year+36.9%
  • 1 year+28.5%
  • 5 years+10.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$59.2M
Operating margin
-1.9%
Net margin
-5.5%
EPS (TTM, diluted)
$-0.10

Growth

Revenue growth
+77.8%
Change in growth rate
+12.8 pts
Share count change
+23.6%

Cash

Free cash flow (TTM)
-$2M
FCF margin
-3.4%
Stock pay % of revenue
12.7%

Earnings

Last results
March 24, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Fennec Pharmaceuticals Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Fennec Pharmaceuticals Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.14 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$14 ~$8.9–$19 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$12 ~$11–$23 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$9.0 ~$9.2–$35 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$9.4 ~$7.8–$11 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$12 ~$9.0–$14 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Fennec Pharmaceuticals Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20172018201920202022202320242025Now
Share price$10.02$6.38$6.49$7.45$9.60$11.22$6.32$7.70$10.54
Market value$150m$121m$129m$177m$252m$298m$172m$220m$345m
+ Net debt (− = net cash)−$28m−$23m−$14m−$30m$1m$18m−$7m−$17m−$41m
Enterprise value$122m$98m$115m$146m$253m$316m$165m$203m$304m
Multiples
Price / sales ———n/m164.3x14.0x3.6x4.9x5.8x
Price / earnings —————————
Price / free cash flow ——————6.4x——
EV / EBITDA —————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026, before the open. Analysts expect revenue of $19m and EPS of $0.11 (range $0.06 to $0.16) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.32 +214% $73m +63%
Next $0.95 +194% $103m +42%

Next year's EPS estimate has moved +6.5% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +8.8% on 90 days ago. In the last 30 days, 4 analysts raised Fennec Pharmaceuticals Inc.'s forecast and 1 cut it.

Consensus EPS forecast Fennec Pharmaceuticals Inc., last 90 days
$0.00 $0.50 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.30 Current fiscal year, 60 days ago: $0.30 Current fiscal year, 30 days ago: $0.30 Current fiscal year, 7 days ago: $0.33 Current fiscal year, Now: $0.32 $0.32 Next fiscal year, 90 days ago: $0.89 Next fiscal year, 60 days ago: $0.89 Next fiscal year, 30 days ago: $0.89 Next fiscal year, 7 days ago: $0.95 Next fiscal year, Now: $0.95 $0.95

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.30$0.89
60 days ago $0.30$0.89
30 days ago $0.30$0.89
7 days ago $0.33$0.95
Now $0.32$0.95

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.02 $0.05 +127.3%
Mar 2026 −$0.02 $0.01 +160.0%
Dec 2025 $0.04 −$0.10 −350.2%
Sept 2025 −$0.03 −$0.02 +20.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, March 24, 2026

No numeric guidance in Fennec Pharmaceuticals Inc.'s latest earnings release (filed March 24, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

6 analysts, Oct 2026
Buy6100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026246
  2. Sep 2026246
  3. Aug 2026246

Counts of recommendations published by analysts covering Fennec Pharmaceuticals Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.6%
of tradable shares
Days to cover
3.54
at average volume
Short interest, 1 month
−11%
to October 15, 2026
Held by institutions
57%
of shares
Held by insiders
14.2%
of shares
Employees
35
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +28.5%

$8.20 on October 31, 2025 to $10.54

ThenNowEffect
Revenue (last 12 months) $33m $59m +77.8%
P/S multiple 6.5x 5.8x −10.7%
Share count 27m 33m −19.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +52.8%

$6.90 on November 3, 2023 to $10.54

ThenNowEffect
Revenue (last 12 months) $200000 $59m +29510.5%
P/S multiple n/m 5.8x −99.4%
Share count 27m 33m −19.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
FENC−41%+118%+17%−44%+22%+37%
Industry peers (median)−35%−57%−18%−28%−5%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
FENC50%75%42%33%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
FENC−61%−18%−37%−64%−29%−36%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 15, 2017: 77% from April 9, 2018 to June 12, 2019. Getting back needed a 334% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.77 – $12.78
From 52-week high
−17.5%
vs 50-day average
−3.5%
vs 200-day average
+14.3%
Volatility (1 year)
67%
Beta vs S&P 500
1.38

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 7 down
typical move ±4.8%
After a week
4 up, 6 down
typical move ±6.3%
After a month
2 up, 8 down
typical move ±15.3%
Results releasedNext dayS&P 500 next day5 days21 days
March 24, 2026 −17.2% +0.2% −17.4% −10.6%
March 10, 2025 −7.0% −3.5% −8.1% −27.2%
March 25, 2024 +0.8% −0.5% +1.8% −16.0%
November 7, 2023 −4.3% +0.4% +1.8% +17.0%
August 4, 2023 +1.4% +0.4% +6.0% −2.1%
February 14, 2020 +5.3% −0.1% −6.0% −29.5%
November 12, 2019 −2.0% +0.2% −2.2% +16.2%
August 9, 2019 −4.8% −1.9% −8.8% −1.3%
May 9, 2019 −2.1% +0.2% +0.2% −13.6%
March 14, 2019 −3.3% +0.4% −10.3% −19.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fennec Pharmaceuticals Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Fennec Pharmaceuticals Inc.
$0 $20M $40M $60M FY21 Q1 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY21 Q1: $200K Revenue (TTM), FY23 Q4: $21.3M Revenue (TTM), FY24 Q1: $45M Revenue (TTM), FY24 Q2: $48.9M Revenue (TTM), FY24 Q3: $49.3M Revenue (TTM), FY24 Q4: $47.5M Revenue (TTM), FY25 Q1: $30.9M Revenue (TTM), FY25 Q2: $33.3M Revenue (TTM), FY25 Q3: $38.8M Revenue (TTM), FY25 Q4: $44.6M Revenue (TTM), FY26 Q1: $51M Revenue (TTM), FY26 Q2: $59.2M $59.2M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY21 Q1 $200K
FY23 Q4 $21.3M
FY24 Q1 $45M
FY24 Q2 $48.9M
FY24 Q3 $49.3M
FY24 Q4 $47.5M
FY25 Q1 $30.9M
FY25 Q2 $33.3M
FY25 Q3 $38.8M
FY25 Q4 $44.6M
FY26 Q1 $51M
FY26 Q2 $59.2M
Revenue growth, TTM YoY Fennec Pharmaceuticals Inc.
-50% 0% 50% 100% 150% FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue growth, TTM YoY, FY24 Q4: 123.7% Revenue growth, TTM YoY, FY25 Q1: -31.2% Revenue growth, TTM YoY, FY25 Q2: -31.9% Revenue growth, TTM YoY, FY25 Q3: -21.4% Revenue growth, TTM YoY, FY25 Q4: -6.1% Revenue growth, TTM YoY, FY26 Q1: 65.0% Revenue growth, TTM YoY, FY26 Q2: 77.8% 77.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q4 123.7%
FY25 Q1 -31.2%
FY25 Q2 -31.9%
FY25 Q3 -21.4%
FY25 Q4 -6.1%
FY26 Q1 65.0%
FY26 Q2 77.8%
Operating margin (TTM) Fennec Pharmaceuticals Inc.
-10000% -5000% 0% 5000% FY21 Q1 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY21 Q1: -9486.5% Operating margin (TTM), FY23 Q4: -60.1% Operating margin (TTM), FY24 Q1: 13.9% Operating margin (TTM), FY24 Q2: 12.0% Operating margin (TTM), FY24 Q3: 3.4% Operating margin (TTM), FY24 Q4: 5.4% Operating margin (TTM), FY25 Q1: -38.8% Operating margin (TTM), FY25 Q2: -29.1% Operating margin (TTM), FY25 Q3: -12.0% Operating margin (TTM), FY25 Q4: -14.1% Operating margin (TTM), FY26 Q1: -11.0% Operating margin (TTM), FY26 Q2: -1.9% -1.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY21 Q1 -9486.5%
FY23 Q4 -60.1%
FY24 Q1 13.9%
FY24 Q2 12.0%
FY24 Q3 3.4%
FY24 Q4 5.4%
FY25 Q1 -38.8%
FY25 Q2 -29.1%
FY25 Q3 -12.0%
FY25 Q4 -14.1%
FY26 Q1 -11.0%
FY26 Q2 -1.9%
FCF margin (TTM) Fennec Pharmaceuticals Inc.
-8000% -6000% -4000% -2000% 0% 2000% FY21 Q1 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY21 Q1: -7719.5% FCF margin (TTM), FY23 Q4: -80.7% FCF margin (TTM), FY24 Q1: 61.1% FCF margin (TTM), FY24 Q2: 47.1% FCF margin (TTM), FY24 Q3: 47.8% FCF margin (TTM), FY24 Q4: 56.8% FCF margin (TTM), FY25 Q1: -53.0% FCF margin (TTM), FY25 Q2: -35.1% FCF margin (TTM), FY25 Q3: -20.6% FCF margin (TTM), FY25 Q4: -27.9% FCF margin (TTM), FY26 Q1: -11.3% FCF margin (TTM), FY26 Q2: -3.4% -3.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY21 Q1 -7719.5%
FY23 Q4 -80.7%
FY24 Q1 61.1%
FY24 Q2 47.1%
FY24 Q3 47.8%
FY24 Q4 56.8%
FY25 Q1 -53.0%
FY25 Q2 -35.1%
FY25 Q3 -20.6%
FY25 Q4 -27.9%
FY26 Q1 -11.3%
FY26 Q2 -3.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 0 0 0 0 0 0 0 0 0 2 21 48 45 59
Gross profit — — — — — — — — — — 1 20 — — —
EBITDA −3 −4 −2 — — — — — — — — — — — —
Operating income −3 −4 −2 −3 −2 −3 −7 −10 −13 −18 −23 −13 3 −6 −1
Net income 5 −5 2 −2 −1 −3 −7 −10 −13 −18 −24 −16 −0 −10 −3
Diluted EPS $0.19 −$0.21 $0.17 −$0.22 −$0.06 −$0.22 −$0.47 −$0.52 −$0.64 −$0.76 −$0.90 −$0.60 −$0.02 −$0.34 −$0.10
Growth (year on year)
Revenue — — — — — — — — — — +667.5% +>999% +123.7% −6.1% +77.8%
Operating income — — — — — — — — — — — — — −344.6% —
Net income — −210.2% — −217.9% — — — — — — — — — — —
Diluted EPS — −210.5% — −229.4% — — — — — — — — — — —
Margins
Gross margin — — — — — — — — — — 94.4% 94.1% — — —
Operating margin — — — — — — — — — <−999% <−999% −60.1% 5.4% −14.1% −1.9%
Net margin — — — — — — — — — <−999% <−999% −75.5% −0.9% −21.8% −5.5%
Free-cash-flow margin — — — — — — — — — <−999% <−999% −80.7% 56.8% −27.9% −3.4%
Cash flow
Cash from operations −3 −3 −2 −2 −2 −2 −4 −8 −9 −16 −18 −17 27 −12 −2
Capital spending 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Free cash flow −3 −3 −2 −2 −2 −2 −4 −8 −9 −16 −18 −17 27 −12 −2
Stock-based pay 0 0 0 1 0 1 2 2 3 3 4 5 5 7 8
Free cash flow after stock pay −3 −3 −2 −2 −2 −3 −5 −10 −12 −18 −22 −22 22 −20 −10
Balance sheet
Cash 5 2 2 2 1 4 28 23 14 30 24 13 27 37 41
Total debt 0 0 0 0 0 0 0 0 0 0 25 31 19 19 —
Net debt (negative = net cash) −5 −2 −2 −2 −1 −4 −28 −23 −14 −30 1 18 −7 −17 −41
Diluted shares 24m 25m 11m 10m 11m 13m 15m 19m 20m 24m 26m 27m 27m 29m 33m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · June 30, 2026
What it owns · $76m
Short-term assets $73mLonger-term assets $3m
What it owes, and who funded it · $76m
Short-term liabilities $12mLonger-term liabilities $21mShareholders' equity $42m
  • Short-term assets cover short-term liabilities $72m of assets due within a year against $12m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $72m short-term assets against $21m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$1m against $904,000 of interest.

From Fennec Pharmaceuticals Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+23.6%
year over year
R&D spending
0.4%
of revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated FENC NTLA IVVD NKTR CUVL TNGX Median
Revenue, last 12 months $59m $60m $58m $55m $64m $54m $56m
Revenue growth, last 12 months 77.8% 12.6% 26.3% −27.2% 5.2% 121.5% 12.6%
Revenue growth, 3-year average 566.5% 3.9% — −14.6% — 16.9% 13.7%
Revenue growth, latest quarter 85.2% −46.2% 21.2% −9.3% — −100.0% 10.2%
Gross margin 94.1% 100.0% — 100.0% 82.9% — 82.9%
Operating margin −1.9% −711.7% −192.8% −257.8% 43.4% −253.4% −189.4%
Operating margin, 3-year average −6.3% −940.1% <−999% −189.3% — −404.1% −363.5%
Net margin −5.5% −672.2% −183.9% −287.8% 36.0% −229.9% −169.8%
Cash from operations / revenue −3.4% −582.5% −185.8% −428.3% 20.1% −267.4% −168.0%
Free-cash-flow margin −3.4% −586.0% −187.9% −428.7% 18.4% −268.1% −162.4%
Free-cash-flow margin, 3-year average 2.9% −738.8% <−999% −288.4% — −388.7% −310.0%
Stock pay / revenue 12.7% 114.1% 19.2% 22.0% 2.5% 74.9% 20.0%
Change in share count 23.6% 16.6% 14.0% 6.2% 0.7% 21.8% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 77.8% 12.6% 45 of 172
Change in growth rate Growth +12.8pp -0.1pp 42 of 172
Operating margin Profitability -1.9% -189.4% 39 of 175
Net margin Profitability -5.5% -157.3% 42 of 180
Free-cash-flow margin Cash generation -3.4% -145.4% 43 of 176
Stock pay as % of revenue Cash generation 12.7% 19.2% 73 of 179
Long-term debt as % of assets Balance sheet 39.3% 20.6% 63 of 78
Change in share count Balance sheet 23.6% 7.9% 121 of 156

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$175M
Institutions reporting
105
Shares held vs prior quarter
▲ 0.7%
Positions opened / closed
25 / 8

Top buyers and sellers, Q2 2026: 69 institutions bought and 26 sold ; the biggest buyer was Aigh Capital Management LLC (+505K shares) and the biggest seller Southpoint Capital Advisors LP (−2.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Rosalind Advisors, Inc. $34.3M 3.2M 19.6% ▲ 9.6%
Aigh Capital Management LLC $26.7M 2.5M 15.3% ▲ 25.5%
Solas Capital Management, LLC $20.3M 1.9M 11.6% ▼ 23.9%
Blackrock, Inc. $18.6M 1.7M 10.6% ▲ 26.2%
Awm Investment Company, Inc. $12.5M 1.2M 7.1% ▲ 61.1%
Vanguard Capital Management LLC $9M 839K 5.2% ▼ 6.4%
Prospect Capital Advisors, LLC $5.4M 498K 3.1% New
State Street Corp $4.6M 426K 2.6% ▲ 18.6%
Geode Capital Management, LLC $4.3M 403K 2.5% ▲ 8.3%
Jane Street Group, LLC $2.5M 234K 1.4% New
Potomac Capital Management, Inc. $2.4M 224K 1.4% 0.0%
Morgan Stanley $2.4M 222K 1.4% ▲ 5.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Fennec Pharmaceuticals Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $11.9M 19 trades by 8 insiders · 17% under pre-set plans
Net ▼ $11.9M net selling
Insider Date Trade Shares Price Value
Brughera Marco Maria Director September 15, 2026 Sell pre-set plan 15,545 $10.29 $159,958
Raykov Rosty 10% owner September 1, 2026 Sell pre-set plan 10,000 $12.11 $121,100
Sayad Pierre Sargis Chief Medical Officer August 31, 2026 Sell 12,000 $12.18 $146,160
Andrade Robert CHIEF FINANCIAL OFFICER August 27, 2026 Sell pre-set plan 75,000 $11.78 $883,500
Raykov Rosty 10% owner August 3, 2026 Sell pre-set plan 10,000 $9.58 $95,800
Raykov Rosty 10% owner July 1, 2026 Sell pre-set plan 9,599 $10.41 $99,926
Raykov Rosty Director June 1, 2026 Sell pre-set plan 9,747 $9.62 $93,766
Rallis Chris A Director May 11, 2026 Sell pre-set plan 8,346 $7.04 $58,756
Raykov Rosty Director May 1, 2026 Sell pre-set plan 10,781 $6.47 $69,753
Raykov Rosty Director April 1, 2026 Sell pre-set plan 10,946 $6.31 $69,069
Raykov Rosty Director March 2, 2026 Sell pre-set plan 10,079 $8.36 $84,260
Raykov Rosty Director February 2, 2026 Sell pre-set plan 10,349 $7.76 $80,308

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • March 24, 2026
  • March 10, 2025
  • March 25, 2024
  • November 7, 2023
  • August 4, 2023
  • February 14, 2020

Recent SEC filings

Data status

When each part of this page on Fennec Pharmaceuticals Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Fennec Pharmaceuticals Inc. in brief

What does Fennec Pharmaceuticals Inc. do?
Fennec Pharmaceuticals Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Fennec Pharmaceuticals Inc.'s stock ticker?
Fennec Pharmaceuticals Inc. trades under the ticker FENC on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Fennec Pharmaceuticals Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Fennec Pharmaceuticals Inc. reported revenue of $59.2M, 77.8% higher than a year earlier, according to its SEC filings.
What is Fennec Pharmaceuticals Inc.'s free cash flow?
Fennec Pharmaceuticals Inc.'s free-cash-flow margin is -3.4% of revenue over the trailing twelve months, ranking 43 of the 176 biotechnology companies we cover.
Who are Fennec Pharmaceuticals Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Rosalind Advisors, Inc., Aigh Capital Management LLC and Solas Capital Management, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Fennec Pharmaceuticals Inc.'s market cap?
On November 2, 2026, Fennec Pharmaceuticals Inc.'s market capitalisation was about $345M and net debt of -$41.2M. Market figures come from third-party market data and may be delayed.
Who are Fennec Pharmaceuticals Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Fennec Pharmaceuticals Inc. are Intellia Therapeutics, Inc., Invivyd, Inc., Nektar Therapeutics, Clinuvel Pharmaceuticals Ltd and Tango Therapeutics, Inc. The side-by-side comparison below sets their revenue, margins and growth against Fennec Pharmaceuticals Inc.'s.
Are insiders buying or selling Fennec Pharmaceuticals Inc. stock?
Over the last 12 months, Fennec Pharmaceuticals Inc.'s directors and officers reported 0 open-market purchases and 19 sales on Form 4. The insider trading page charts every trade.
When is Fennec Pharmaceuticals Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Fennec Pharmaceuticals Inc. announces its own schedule.