Crispr Therapeutics shares tumble after significant earnings miss
In a recent transaction, Raykov Rosty, a director at Fennec Pharmaceuticals Inc. (NASDAQ:FENC), sold 10,000 common shares of the company. The shares were sold at a price of $5.25 each, amounting to a total of $52,500. The transaction comes as the stock has experienced a significant decline, dropping over 19% in the past week according to InvestingPro data. This sale was conducted under a 10b5-1 trading plan, which was established on August 23, 2024. Following this transaction, Rosty retains ownership of 61,156 shares in the company. Fennec Pharmaceuticals, based in Research Triangle Park, North Carolina, is classified under the biological products industry. The company maintains strong financial health with impressive gross profit margins of 93.3% and a healthy current ratio of 6.38. InvestingPro analysis indicates the stock is currently undervalued, with analyst price targets ranging from $10 to $15. For deeper insights into FENC’s valuation and 12 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Fennec Pharmaceuticals Inc. reported its fourth-quarter financial results, showing revenue of $7.92 million, slightly exceeding analyst expectations of $7.88 million. Despite this revenue beat, the company recorded a net loss of $0.06 per share, which, while lower than the projected loss of $0.19 per share, was wider than the previous year’s loss of $0.10 per share. For the full year 2024, Fennec achieved PEDMARK net product sales of $29.6 million, marking a 40% year-over-year increase. The company ended the year with $26.6 million in cash and cash equivalents.
Additionally, H.C. Wainwright maintained its Buy rating for Fennec, reiterating a price target of $13. The firm highlighted Fennec’s lower-than-expected operating expenses as a positive aspect of the financial performance. H.C. Wainwright also adjusted its full-year 2025 revenue estimate to $46.7 million, down from $48.4 million, while projecting 2026 revenue at $87.7 million, based on anticipated growth in PEDMARK adoption. The company is focusing on expanding its market presence, including the recent commercial launch of PEDMARQSI in the UK and Germany.
Fennec’s CEO, Jeff Hackman, noted the beginning of a foundational transformation in 2024, with momentum continuing into early 2025, particularly with increased adoption by academic institutions. The company aims to capitalize on growth opportunities, although the recent wider loss has raised concerns among investors.
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