Cornerstone Capital Inc. bought a new stake in Fennec Pharmaceuticals Inc. (TSE:FRX – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 105,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,129,000.
Fennec Pharmaceuticals Stock Performance
Shares of TSE FRX opened at C$17.01 on Friday. The company has a market capitalization of C$595.93 million, a PE ratio of -141.75 and a beta of 3.55. 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.
Insider Buying and Selling at Fennec Pharmaceuticals
In other news, Director Rostislav Christov Raykov acquired 15,597 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was acquired at an average price of C$3.37 per share, for a total transaction of C$52,561.89. Following the completion of the transaction, the director 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 position. Company insiders own 16.20% of the company’s stock.
Fennec Pharmaceuticals Profile
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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