Key Highlights

  • Net PEDMARK product sales were USD 19.4 million, up 56% from USD 12.5 million.
  • Net income was USD 4.6 million, compared with a net loss of USD 638 thousand.
  • Cash from operations reached nearly USD 7 million, which management called a company record.
  • Cash and equivalents were USD 48.7 million at September 30, 2026, with no debt.

Fennec Pharmaceuticals (NASDAQ:FENC) reported third-quarter 2026 total Revenue of USD 19.6 million, against an estimate of USD 18.87 million. Earnings Per Share were USD 0.12, against an estimate of USD 0.10, compared with a loss of USD 0.02 per share in the year-earlier quarter.

The company is a commercial-stage specialty pharmaceutical Business focused on preventing cisplatin-induced ototoxicity, a serious and often irreversible side effect of cancer treatment. Its product, PEDMARK, is approved by the FDA in the United States and by the European Commission.

Product Sales, Expenses and Income

Net product sales of PEDMARK were USD 19,425 thousand, compared with USD 12,462 thousand, an increase of USD 6,963 thousand, or 56%. The company attributed the increase to greater market penetration and access and to an expanded focus on the adolescent and young adult population. Other revenue of USD 183 thousand related to the Norgine transaction, with none a year earlier. Total revenue was USD 19,608 thousand.

Cost of product sales was USD 838 thousand, which was 4% of net product sales against 5%, driven by Manufacturing and inventory efficiencies. Selling and Marketing expense was USD 10,050 thousand against USD 6,513 thousand, and general and administrative expense was USD 3,912 thousand against USD 5,449 thousand. Research and Development expense was USD 154 thousand, linked to investigator-initiated trials.

Income from operations was USD 4,654 thousand, compared with a loss of USD 189 thousand. Interest income was USD 319 thousand, interest expense was USD 1 thousand against USD 586 thousand, and the tax provision was USD 332 thousand. Net Income was USD 4,640 thousand against a net loss of USD 638 thousand.

Balance Sheet and Cash Generation

Cash and equivalents were USD 48,684 thousand at September 30, 2026, up from USD 36,788 thousand at December 31, 2025, a net increase of USD 11,896 thousand. Working Capital was USD 67,707 thousand and stockholders' Equity was USD 49,190 thousand, with an accumulated Deficit of USD 222,608 thousand.

On the call, management said cash was about USD 1.40 per share with no debt, and that EBITDA for the quarter was about USD 0.16 per share. The company described its cost base as predominantly fixed and said EBITDA grew by USD 3 million on revenue growth of USD 2.3 million.

PEDMARK Metrics Reported in the Filing and on the Call

The reported figures give several reference points. Product sales, cost of product sales as a share of those sales, and selling and marketing expense are the lines that moved most in the income statement. The Norgine transaction produced the first other revenue recorded in the period.

On the balance sheet, cash, working capital and the accumulated deficit are reported side by side, and the company reports no debt. The call also covered KPIs for enrollments and completed infusions, which analysts asked about in the question session.