Fennec Pharmaceuticals (TSE:FRX) Sets New 52-Week High – Should You Buy?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$15.48 and last traded at C$15.42, with a volume of 272 shares. The stock had previously closed at C$15.00.

Fennec Pharmaceuticals Stock Down 0.6%

The company has a market capitalization of C$532.17 million, a price-to-earnings ratio of -52.83 and a beta of 3.52. The business’s 50-day moving average is C$12.09 and its 200-day moving average is C$10.92.

Insider Activity

In related news, Director Rostislav Christov Raykov bought 15,597 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of C$3.37 per share, with a total value of C$52,561.89. Following the completion of the acquisition, the director directly owned 2,755,851 shares in the company, valued at approximately C$9,287,217.87. The trade was a 0.57% increase in their ownership of the stock. Also, Director Chris Anigeron Rallis purchased 14,344 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of C$3.35 per share, with a total value of C$48,052.40. Following the completion of the transaction, the director owned 69,660 shares of the company’s stock, valued at C$233,361. This represents a 25.93% increase in their position. Insiders own 16.20% of the company’s stock.

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, with rights to commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand.