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The sale was conducted under a pre-arranged 10b5-1 trading plan, established on December 14, 2023. Additionally, on December 2, 2024, Raykov acquired 2,431 shares at no cost, following a release of restrictions from shares awarded earlier in the year. InvestingPro subscribers have access to 10+ additional exclusive insights about FENC, including detailed analysis of the company's financial health, valuation metrics, and growth prospects. Access the comprehensive Pro Research Report covering what really matters about this $167 million market cap company. InvestingPro subscribers have access to 10+ additional exclusive insights about FENC, including detailed analysis of the company's financial health, valuation metrics, and growth prospects. Access the comprehensive Pro Research Report covering what really matters about this $167 million market cap company.
The sale was conducted under a pre-arranged 10b5-1 trading plan, established on December 14, 2023. Additionally, on December 2, 2024, Raykov acquired 2,431 shares at no cost, following a release of restrictions from shares awarded earlier in the year.
In other recent news, Fennec Pharmaceuticals (NASDAQ:FENC) reported robust growth in its third-quarter earnings call. The company highlighted the successful expansion of PEDMARK, a therapy aimed at reducing cisplatin-associated hearing loss, particularly in the Adolescent and Young Adult market. This has contributed to a rise in net product sales to $22 million for the first nine months of 2024, surpassing the total sales of 2023. Fennec also reported an increase in third-quarter net sales and maintains a strong cash position, forecasting the ability to fund operations well into 2026.
Further developments include the planned launch of PEDMARQSI in Germany and the U.K. in 2025, and the full enrollment of a PEDMARK trial in Japan, with results expected in 2025. The company has also made enhancements to its leadership team to improve efficiency and commercial strategy. However, it should be noted that Fennec's general and administrative expenses rose to $6.1 million, influenced by stock compensation and litigation costs, and ongoing IP litigation is yet to be resolved.
In terms of future expectations, Fennec anticipates continued growth driven by market expansion and increased awareness of PEDMARK. The company is also exploring business development opportunities, including entering the Japanese market. These are recent developments that investors should keep an eye on.
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