Cornerstone Capital Inc. acquired a new stake in shares of Fennec Pharmaceuticals Inc. (TSE:FRX – Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 105,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,129,000. Cornerstone Capital Inc. owned 0.30% of Fennec Pharmaceuticals at the end of the most recent quarter.
Insider Activity at Fennec Pharmaceuticals
In other news, Director Rostislav Christov Raykov sold 9,747 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$13.23, for a total value of C$128,952.81. Following the sale, the director owned 2,746,104 shares in the company, valued at C$36,330,955.92. This represents a 0.35% decrease in their ownership of the stock. 16.20% of the stock is owned by insiders.
Fennec Pharmaceuticals Price Performance
TSE:FRX opened at C$17.01 on Friday. The company’s fifty day moving average price is C$14.42 and its 200-day moving average price is C$11.93. Fennec Pharmaceuticals Inc. has a 1-year low of C$7.59 and a 1-year high of C$17.64. The firm has a market capitalization of C$595.93 million, a P/E ratio of -141.75 and a beta of 3.55.
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.
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