Fennec Pharmaceuticals (TSE:FRX) Stock Price Passes Above 50 Day Moving Average – What’s Next?

Fennec Pharmaceuticals Inc. (TSE:FRX) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$13.17 and traded as high as C$15.00. Fennec Pharmaceuticals shares last traded at C$14.79, with a volume of 286 shares changing hands.

Fennec Pharmaceuticals Trading Up 1.0%

The company has a 50-day moving average of C$13.28 and a 200-day moving average of C$11.23. The firm has a market capitalization of C$518.97 million, a price-to-earnings ratio of -51.52 and a beta of 3.52.

Insider Activity

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

Fennec Pharmaceuticals Company 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.