Fennec Pharmaceuticals (FENC) H.C. Wainwright 3rd Annual BioConnect Investor Conference 2025 summary

Product overview and market positioning

• PEDMARK is the first and only FDA-approved therapy to prevent ototoxicity from cisplatin in pediatric and AYA cancer patients, with recent NCCN guideline endorsement expanding its use to ages 15-39.

• The product addresses a critical need, preventing hearing loss that can otherwise only be managed with hearing aids or implants.

• PEDMARK is distributed via specialty channels and a home health program, targeting both pediatric and AYA segments.

• Market opportunity includes approximately 3,000 pediatric and 20,000 AYA cisplatin-treated patients annually in the U.S.

• Expansion into the AYA segment has significantly broadened the addressable market.

Commercial strategy and execution

• The commercial team consists of 20 customer-facing representatives, supported by medical science liaisons and key account managers.

• Focused targeting of high-prescribing physicians and top institutions has driven two consecutive quarters of revenue growth.

• Enhanced training and execution are prioritized to increase awareness and adoption among prescribers.

• Ongoing efforts address the challenge of compounded sodium thiosulfate use, emphasizing PEDMARK’s FDA approval and clinical validation.

• No large-scale consumer marketing is planned; strategy centers on targeted outreach and education.

Financial performance and outlook

• Q1 net product revenue reached $8.8 million, with cash flow break-even expected at $8.5–$9 million per quarter.

• Annual cash operating expenses are $33–$35 million, aligning with the break-even revenue target.

• 2025 net revenue is projected at $46 million.

• The company holds $23 million in cash and has $19.5 million in convertible debt, with plans to optimize capital structure as profitability is achieved.

• Convertible note carries a low-teens interest rate and matures in August 2027.