Fennec Pharmaceuticals (FENC) Prices 4.8M Common Stock Offering at $6.25/Share

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 pricing of its 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. Fennec anticipates the total gross proceeds from the offering (before deducting the underwriting discounts and offering expenses) will be $30 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on May 4, 2020, subject to customary closing conditions.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. Wedbush PacGrow is acting as the co-manager.

Fennec plans to use the net proceeds from this offering for obtaining regulatory approvals, the commercial launch of PEDMARKTM, if approved, and working capital and general corporate purposes.

The common shares are being offered by the Company pursuant to a registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”).

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