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Fennec Pharmaceuticals Announces Private Offering of Common Shares in Canada

1. Fennec announces a non-brokered share offering at $7.50 per share. 2. The offering aims to raise up to $5.025 million in Canada. 3. PEDMARK® is FDA approved and protects against chemotherapy-induced ototoxicity. 4. Fennec's products are commercially available in Europe, U.K., Australia, and New Zealand. 5. Completion of the offering is subject to various approvals and conditions.

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Why Bullish?

Successful fundraising can increase liquidity and support further product development, potentially boosting share prices similar to previous capital raises in the sector that led to positive market reactions.

How important is it?

The article discusses a capital raising effort that can impact investor confidence and FENC's operational capabilities, with historical precedent showing that share offerings can positively affect stock value when used effectively.

Why Short Term?

The share offering is expected to close soon, impacting investors' perception and stock price in the near term.

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FENCNOGBMY
November 13, 2025 23:11 ET  | Source: Fennec Pharmaceuticals Inc. RESEARCH TRIANGLE PARK, N.C., Nov. 13, 2025 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX) (“Fennec” or the “Company”), a specialty pharmaceutical company, today announced that it intends to engage in a non-brokered offering of its common shares in Canada, at a price of US$7.50 per share, with certain of its existing institutional shareholders, for aggregate gross proceeds of up to US$5,025,000. The offering is expected to close on November 17, 2025, subject to the Company entering into subscription agreements with investors in the offering, if any, and certain customary closing conditions including, but not limited to, the receipt of all necessary approvals, including approval from the Toronto Stock Exchange (“TSX”). The offering is being made to prospective purchasers resident in any province in Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions and the Company expects to register any common shares issued in the offering, if any, under the Securities Act of 1933, as amended, pursuant to a prospectus supplement and accompanying prospectus. As the offering is being completed pursuant to the listed issuer financing exemption, the common shares issued pursuant to the offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There are no assurances that the offering will be completed or, if completed, the amount of aggregate gross proceeds that will be raised through the offering. There is an offering document related to the offering that can be accessed under the Company’s profile at www.sedarplus.com and at www.fennecpharma.com. Prospective investors in the Canadian offering should read this offering document before making an investment decision. The common shares in the offering will offered and sold solely in Canada. This press release shall not constitute an offer to sell or the solicitation of an offer to buy common shares, nor shall there be any sale of common shares, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Fennec is relying upon the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq. About Fennec Pharmaceuticals 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, will commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand. PEDMARQSI® is now commercially available in the U.K. and Germany. PEDMARK® has received Orphan Drug Exclusivity in the U.S. and PEDMARQSI® has received Pediatric Use Marketing Authorization in Europe which includes eight years plus two years of data and market protection. Further, Fennec has patents providing protection for PEDMARK® until 2039 in both the U.S. and internationally. Forward Looking Statements Except for historical information described in this press release, all other statements are forward-looking. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include, among other things, statements regarding the Company’s expectations on the timing, size and completion of the offering. Forward-looking statements are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including the risks and uncertainties that regulatory and guideline developments may change, scientific data and/or manufacturing capabilities may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, unforeseen global instability, including political instability, or instability from an outbreak of pandemic or contagious disease, such as the novel coronavirus (COVID-19), or surrounding the duration and severity of an outbreak, protection offered by the Company’s patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, the Company’s ability to obtain necessary capital when needed on acceptable terms or at all, and other risks detailed from time to time in the Company’s filings with the SEC including its Annual Report on Form 10-K for the year ended December 31, 2024. Fennec disclaims any obligation to update these forward-looking statements except as required by law. For a more detailed discussion of related risk factors, please refer to our public filings available at www.sec.gov and www.sedar.com. PEDMARK®, PEDMARQSI® and Fennec® are registered trademarks of Fennec Pharmaceuticals Inc. ©2025 Fennec Pharmaceuticals Inc. All rights reserved For further information, please contact: Investors:Robert AndradeChief Financial OfficerFennec Pharmaceuticals Inc.+1 919-246-5299 Corporate and Media:Lindsay Rocco Elixir Health Public Relations+1 862-596-1304lrocco@elixirhealthpr.com

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