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Fennec Pharmaceuticals at Multi-Year High After Swing to Q2 Earnings Beat

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Fennec Pharmaceuticals (FRX.TO) reported a swing to a second-quarter profit of $0.05 per share, compared with a loss of $0.11 per share in the prior year period, the company said on Tuesday.

Analysts polled by FactSet had expected $0.02 per share.

Total revenue advanced to $17.9 million, from $9.7 million, beating the $16.1 million forecast. Product sales of Fennec's Pedmark (sodium thiosulfate) injection jumped 78% year over year to $17.1 million, the company said.

Pedmark is prescribed to reduce the risk of cisplatin-induced hearing loss in children and young adults with localized, non-metastatic, solid tumors.

Fennec shares jumped C$1.98, or 13% to a multi-year high of C$17.26 on the Toronto Stock Exchange, the highest since April 2018.

Price: $17.26, Change: $+1.98, Percent Change: +12.96%

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