Fennec Pharmaceuticals (TSE:FRX) Hits New 12-Month High – Time to Buy?

Shares of Fennec Pharmaceuticals Inc. (TSE:FRX) reached a new 52-week high on Monday . The stock traded as high as C$15.48 and last traded at C$15.42, with a volume of 272 shares traded. The stock had previously closed at C$15.00.

Fennec Pharmaceuticals Trading Up 1.2%

The firm has a 50-day moving average of C$11.83 and a 200 day moving average of C$10.85. The company has a market cap of C$535.64 million, a P/E ratio of -53.17 and a beta of 3.52.

Insider Activity at Fennec Pharmaceuticals

In related news, Director Chris Anigeron Rallis acquired 14,344 shares of Fennec Pharmaceuticals stock in a transaction dated Monday, May 11th. The stock was bought at an average price of C$3.35 per share, with a total value of C$48,052.40. Following the transaction, the director directly owned 69,660 shares in the company, valued at C$233,361. This represents a 25.93% increase in their position. Also, Director Rostislav Christov Raykov acquired 15,597 shares of the stock in a transaction dated Monday, June 1st. The stock was bought at an average price of C$3.37 per share, with a total value of C$52,561.89. Following the purchase, the director directly owned 2,755,851 shares in the company, valued at C$9,287,217.87. This represents a 0.57% increase in their ownership of the stock. 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.