Fennec Pharmaceuticals (TSE:FRX) Sets New 1-Year High – Time to Buy?

Fennec Pharmaceuticals Inc. (TSE:FRX) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as C$14.50 and last traded at C$14.50, with a volume of 984 shares traded. The stock had previously closed at C$12.82.

Fennec Pharmaceuticals Stock Up 16.8%

The company has a 50 day simple moving average of C$11.32 and a two-hundred day simple moving average of C$10.73. The company has a market capitalization of C$520.36 million, a P/E ratio of -51.66 and a beta of 3.52.

Insider Buying and Selling

In related news, Director Chris Anigeron Rallis bought 14,344 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of C$3.35 per share, for a total transaction of C$48,052.40. Following the acquisition, the director owned 69,660 shares in the company, valued at C$233,361. This trade represents a 25.93% increase in their ownership of the stock. Also, Director Rostislav Christov Raykov bought 15,597 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were bought at an average cost of C$3.37 per share, for a total transaction of C$52,561.89. Following the transaction, the director owned 2,755,851 shares in the company, valued at approximately C$9,287,217.87. The trade was a 0.57% increase in their position. 16.20% of the stock is currently owned by insiders.

Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom ( U.K. ) approval in October 2023 under the brand name PEDMARQSI®. In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, with rights to commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand.