• Revenue Growth: Approximately 40% increase in revenues over the past 12 months.
• Net Product Sales (Q4 2024): $7.9 million, with a quarterly growth rate of approximately 13%.
• Net Product Sales (Full Year 2024): $29.6 million, compared to $21.3 million in 2023.
• Cash Burn (Q4 2024): Approximately $0.6 million.
• Selling and Marketing Expenses (Q4 2024): $3.9 million, compared to $4.6 million in Q3 2024.
• Selling and Marketing Expenses (Full Year 2024): $18.4 million, compared to $12.1 million in 2023.
• G&A Expenses (Q4 2024): Decreased by $2.9 million compared to Q3 2024.
• G&A Expenses (Full Year 2024): Increased by $2.4 million compared to 2023.
• Cash and Cash Equivalents (End of 2024): $26.6 million.
• Debt Repayment: Early partial repayment of $13 million of the $32 million outstanding convertible debt.
• Cash Operating Expenses (Full Year 2024): Approximately $33 million, including $8 million related to European pre-commercialization and Norgine transaction expenses.

• Warning! GuruFocus has detected 3 Warning Signs with FENC.

Release Date: March 10, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Fennec Pharmaceuticals Inc (NASDAQ:FENC) reported a 40% increase in revenues over the past 12 months, demonstrating strong financial growth.
• The company successfully launched PEDMARK in major European markets, including Germany and the UK, expanding its international presence.
• PEDMARK is gaining traction in major academic centers across the US, such as UCLA and Mount Sinai, validating its clinical utility.
• Fennec Pharmaceuticals Inc (NASDAQ:FENC) has a strong cash position with $26.6 million in cash and cash equivalents as of December 31, 2024.
• The company has made strategic hires in key management and commercial roles, strengthening its leadership team and expertise.

Negative Points

• The company faces challenges in increasing awareness and adoption of PEDMARK among oncologists and the AYA population.
• There is competition from compounded STS products, particularly in the pediatric market, which could impact PEDMARK's market share.
• Fennec Pharmaceuticals Inc (NASDAQ:FENC) reported a cash burn of $0.6 million in the fourth quarter of 2024, indicating ongoing operational expenses.
• The company anticipates similar cash operating expenses in 2025, which may impact profitability despite revenue growth.
• There is uncertainty regarding the timing and outcome of regulatory and reimbursement approvals in international markets, such as Japan.

Q & A Highlights

Q: Did the pediatric business return to sequential growth in Q4, and what was the AYA contribution? A: Yes, the pediatric segment continued to grow, and the AYA segment has emerged as a significant opportunity. However, specific contributions from each segment were not disclosed. - Jeffrey Hackman, CEO

Q: Is the anticipated second-half growth related to NCCN compendia, and what are the expectations for AYA growth in 2025? A: The second-half growth is expected as the business builds on itself, particularly with the AYA opportunity. While specific guidance was not provided, the company is confident in the significant potential of the AYA market. - Jeffrey Hackman, CEO

Q: Can you provide details on Norgine's progress in Europe and the potential impact of the AYA population there? A: Norgine has launched PEDMARK in the UK and Germany, which are expected to be significant markets. The AYA population's impact in Europe is still being assessed, as the product is currently approved for patients aged one month to 17 years with localized non-metastatic solid tumors. - Jeffrey Hackman, CEO

Q: What is the competitive landscape for PEDMARK in the US, and how is the pricing structured? A: PEDMARK's wholesale acquisition cost is $11,000 per vial, with favorable reimbursement across commercial and government payers. The competitive landscape includes compounded STS products, primarily used in pediatric settings, but PEDMARK is gaining traction in major institutions. - Jeffrey Hackman, CEO

Q: Regarding Japan, do you need data in hand to secure a partner, and how do you prioritize commercial efforts between community and academic centers in the AYA segment? A: While having data is preferable, discussions with potential partners are ongoing. The AYA segment is balanced between community and academic centers, both of which are critical for PEDMARK's growth. - Jeffrey Hackman, CEO

For the complete transcript of the earnings call, please refer to the full earnings call transcript.