$FENC
FENNEC PHARMACEUTICALS INC.

2021 Form 10-K Financial Statement

#000155837022002334 Filed on February 28, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $0.00 $170.0K $200.0K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.24M $2.290M $12.95M
YoY Change -5.47% -7.66% 75.0%
% of Gross Profit
Research & Development $4.981M $1.220M $5.105M
YoY Change -2.43% 4.27% -9.0%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $17.22M $3.520M $18.06M
YoY Change -4.61% -3.56% 38.78%
Operating Profit -$17.22M -$17.89M
YoY Change -3.7%
Interest Expense -$123.0K $110.0K -$220.0K
YoY Change -44.09% 120.0% -188.0%
% of Operating Profit
Other Income/Expense, Net -$123.0K -$10.00K -$224.0K
YoY Change -45.09% 0.0% 1020.0%
Pretax Income -$9.122M -$3.240M -$8.784M
YoY Change 3.85% -10.25% -31.27%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$17.35M -$3.240M -$18.11M
YoY Change -4.21% -10.25% 41.7%
Net Earnings / Revenue -1905.88% -9054.5%
Basic Earnings Per Share -$0.67 -$0.76
Diluted Earnings Per Share -$0.67 -$125.0K -$0.76
COMMON SHARES
Basic Shares Outstanding 26.01K 23.70K
Diluted Shares Outstanding 26.01K 23.70K

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.10M $30.34M $30.34M
YoY Change -30.45% 122.27% 122.27%
Cash & Equivalents $21.10M $30.34M $30.34M
Short-Term Investments
Other Short-Term Assets $1.287M $276.0K $1.080M
YoY Change 19.17% 15.0% 350.0%
Inventory
Prepaid Expenses $797.0K
Receivables
Other Receivables
Total Short-Term Assets $22.39M $31.42M $31.42M
YoY Change -28.75% 126.35% 126.37%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.00K $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $27.00K $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL ASSETS
Total Short-Term Assets $22.39M $31.42M $31.42M
Total Long-Term Assets $27.00K $0.00 $0.00
Total Assets $22.41M $31.42M $31.42M
YoY Change -28.66% 122.03% 122.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $777.0K $1.571M $1.570M
YoY Change -50.51% -2.42% -2.48%
Accrued Expenses $877.0K $776.0K $780.0K
YoY Change 12.44% 17.58% 18.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.654M $2.347M $2.350M
YoY Change -29.62% 3.39% 3.52%
LONG-TERM LIABILITIES
Long-Term Debt $5.000M $0.00 $0.00
YoY Change
Other Long-Term Liabilities -$12.00K
YoY Change
Total Long-Term Liabilities $4.988M $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.654M $2.347M $2.350M
Total Long-Term Liabilities $4.988M $0.00 $0.00
Total Liabilities $6.642M $2.347M $2.350M
YoY Change 182.64% 3.39% 3.52%
SHAREHOLDERS EQUITY
Retained Earnings -$162.1M
YoY Change
Common Stock $190.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.77M $29.07M $29.07M
YoY Change
Total Liabilities & Shareholders Equity $22.41M $31.42M $31.42M
YoY Change -28.66% 122.03% 122.05%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$17.35M -$3.240M -$18.11M
YoY Change -4.21% -10.25% 41.7%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$14.22M -$3.290M -$15.60M
YoY Change -8.8% 106.92% 72.13%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $31.97M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.978M 460.0K 32.29M
YoY Change -84.58% -46227.14%
NET CHANGE
Cash From Operating Activities -14.22M -3.290M -15.60M
Cash From Investing Activities
Cash From Financing Activities 4.978M 460.0K 32.29M
Net Change In Cash -9.244M -2.830M 16.69M
YoY Change -155.37% 77.99% -282.85%
FREE CASH FLOW
Cash From Operating Activities -$14.22M -$3.290M -$15.60M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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CY2021 us-gaap Restricted Stock Expense
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100000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
34000
CY2021Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2020Q4 us-gaap Cash
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CY2020Q4 us-gaap Cash
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34000000
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CY2021Q4 us-gaap Common Stock No Par Value
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0
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
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39130
CY2019Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
39000
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2020 fenc Stock Issued During Period Shares Warrants Granted
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0
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39000
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6.80
CY2021 fenc Stock Issued During Period Shares Warrants Granted
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0
CY2021 fenc Weighted Average Exercise Price Warrants Granted
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0
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
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39000
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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6.80
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-8784000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-8173000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-9283000
CY2021 fenc Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
-17295000
CY2020 fenc Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
-18067000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2650
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2650
CY2021 fenc Expected Provision For Recovery Of Income Tax
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-4583000
CY2020 fenc Expected Provision For Recovery Of Income Tax
ExpectedProvisionForRecoveryOfIncomeTax
-4788000
CY2020 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0
CY2021 fenc Income Tax Reconciliation Tax Credits Other Adjustments
IncomeTaxReconciliationTaxCreditsOtherAdjustments
0
CY2020 fenc Income Tax Reconciliation Tax Credits Other Adjustments
IncomeTaxReconciliationTaxCreditsOtherAdjustments
0
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
504000
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
299000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
33953000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
31161000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33927000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
31147000
CY2021Q4 us-gaap Deferred Tax Assets Net
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26000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
14000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34

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