$FENC
FENNEC PHARMACEUTICALS INC.

2024 Q1 Form 10-K Financial Statement

#000155837024004383 Filed on March 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $25.38M $9.735M $21.25M
YoY Change 1413.24% 534.2% 1284.5%
Cost Of Revenue $550.0K $685.0K $1.259M
YoY Change 478.95% 696.51% 1363.95%
Gross Profit $24.83M $9.050M $19.99M
YoY Change 1469.34% 524.57% 1279.78%
Gross Profit Margin 97.83% 92.96% 94.08%
Selling, General & Admin $11.08M $10.84M $32.71M
YoY Change 61.81% 45.12% 59.5%
% of Gross Profit 44.63% 119.73% 163.6%
Research & Development $3.000K $32.00K $56.00K
YoY Change -25.0% -72.65% -98.41%
% of Gross Profit 0.01% 0.35% 0.28%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $11.63M $10.87M $32.76M
YoY Change 69.79% 43.3% 36.3%
Operating Profit $13.74M -$1.818M -$12.77M
YoY Change -360.78% -70.37% -43.46%
Interest Expense -$906.0K -$864.0K -$3.274M
YoY Change 15.86% 19.67% 191.02%
% of Operating Profit -6.59%
Other Income/Expense, Net -$906.0K -$3.274M
YoY Change 15.86% 191.02%
Pretax Income $12.84M -$2.682M -$16.05M
YoY Change -312.11% -60.89% 52.11%
Income Tax
% Of Pretax Income
Net Earnings $12.84M -$2.682M -$16.05M
YoY Change -312.11% -60.89% -32.34%
Net Earnings / Revenue 50.59% -27.55% -75.5%
Basic Earnings Per Share $0.41 -$0.60
Diluted Earnings Per Share $0.41 -$0.10 -$0.60
COMMON SHARES
Basic Shares Outstanding 27.10M 26.63M 26.57M
Diluted Shares Outstanding 31.09M 26.57M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.18M $13.27M $13.27M
YoY Change 178.33% -44.19% -44.19%
Cash & Equivalents $51.18M $11.93M $11.93M
Short-Term Investments
Other Short-Term Assets $161.0K $2.619M $2.619M
YoY Change 403.13% 4057.14% 214.41%
Inventory $2.064M $2.156M $2.156M
Prepaid Expenses $4.488M $2.575M
Receivables $10.27M $8.814M $8.814M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $68.17M $26.86M $26.86M
YoY Change 214.7% 0.49% 0.49%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.022M $6.000K $6.000K
YoY Change 542.77% -97.16% -97.16%
Total Long-Term Assets $1.022M $6.000K $6.000K
YoY Change 542.77% -97.16% -97.16%
TOTAL ASSETS
Total Short-Term Assets $68.17M $26.86M $26.86M
Total Long-Term Assets $1.022M $6.000K $6.000K
Total Assets $69.19M $26.86M $26.86M
YoY Change 217.09% -0.28% -0.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.204M $3.778M $3.778M
YoY Change 76.59% 58.08% 58.08%
Accrued Expenses $4.363M $3.775M $3.775M
YoY Change 306.62% 70.12% 70.12%
Deferred Revenue $252.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.836M $7.553M $7.553M
YoY Change 144.68% 63.88% 63.88%
LONG-TERM LIABILITIES
Long-Term Debt $30.00M $30.00M $30.00M
YoY Change 20.0% 20.0% 20.0%
Other Long-Term Liabilities $26.34M $933.0K $933.0K
YoY Change 18716.43% -1023.76% -1023.76%
Total Long-Term Liabilities $56.34M $30.93M $30.93M
YoY Change 124.12% 24.23% 24.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.836M $7.553M $7.553M
Total Long-Term Liabilities $56.34M $30.93M $30.93M
Total Liabilities $66.18M $38.49M $38.49M
YoY Change 126.95% 30.43% 30.43%
SHAREHOLDERS EQUITY
Retained Earnings -$206.4M -$219.2M
YoY Change -1.36% 7.9%
Common Stock $208.2M $206.4M
YoY Change 3.74% 3.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.014M -$11.62M -$11.62M
YoY Change
Total Liabilities & Shareholders Equity $69.19M $26.86M $26.86M
YoY Change 217.09% -0.28% -0.28%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $12.84M -$2.682M -$16.05M
YoY Change -312.11% -60.89% -32.34%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $39.05M -$4.863M -$17.14M
YoY Change -800.14% -28.51% -5.07%
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 $1.716M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.132M 5.728M 6.638M
YoY Change -686.53% 595.15% -67.98%
NET CHANGE
Cash From Operating Activities 39.05M -4.863M -17.14M
Cash From Investing Activities
Cash From Financing Activities -1.132M 5.728M 6.638M
Net Change In Cash 37.92M 865.0K -10.51M
YoY Change -804.22% -114.47% -492.86%
FREE CASH FLOW
Cash From Operating Activities $39.05M -$4.863M -$17.14M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023 us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">1.      Nature of Business and Liquidity</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Fennec Pharmaceuticals Inc. (“Fennec,” “the Company,” “we,” “us,” or “our”) was originally formed as a British Columbia corporation under the name Adherex Technologies Inc. and subsequently changed its name on September 3, 2014. Fennec, together with its wholly owned subsidiaries Oxiquant, Inc. (“Oxiquant”) and Fennec Pharmaceuticals, Inc., both Delaware corporations, and Cadherin Biomedical Inc. (“CBI”), a Canadian corporation and Fennec Pharmaceuticals (EU) Limited (“Fennec Limited”), collectively referred to herein as the “Company,” is a biopharmaceutical company with one FDA approved product developed to reduce the risk of ototoxicity associated with cisplatin in pediatric patients one month of age and older with localized, non-metastatic solid tumors. With the exception of Fennec Pharmaceuticals, Inc., and Fennec Pharmaceuticals (EU) Limited, all subsidiaries are inactive.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">These consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) that are applicable to a going concern which contemplates that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">During the year ended December 31, 2023, the Company incurred a net loss from operations of $16,045. At December 31, 2023, it had an accumulated deficit of $219,245 and had experienced negative cash flows from operating activities in the amount of $17,143 for the year ended December 31, 2023.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On August 1, 2022, the Company entered into a Securities Purchase Agreement (the “SPA”) with Petrichor Opportunities Fund I LP (the “Investor”) in connection with the issuance of up to $45,000 of senior secured floating rate convertible notes (the “Notes”), issuable in multiple tranches (the “Note Financing”). On August 19, 2022, the Company closed on the initial tranche of $5,000 (the “First Closing Note”) which has an Initial Conversion Price equal to $8.11 per share, which was calculated based on a 20% premium of the 5-day volume weighted average price of the Company’s common shares as traded on the Nasdaq Capital Market (the “VWAP”) immediately prior to the announcement of the Securities Purchase Agreement (“SPA”) dated August 1, 2022. In connection with the first closing, the Company repaid in full its secured indebtedness with Bridge Bank in the amount of $5,000.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.32;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.31;text-align:justify;margin:0pt 10.95pt 0pt 0pt;">On September 23, 2022, the Company closed on the second tranche of the Note Financing in the amount of $20,000 (the “Second Closing Note”), which has an Initial Conversion Price equal to $7.89 per share, which was calculated based on a 20% premium of the 5-day VWAP immediately prior to September 20, 2022, which was the date the Company obtained FDA approval of PEDMARK<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup>.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:9.2pt;text-align:justify;margin:0pt;"><span style="font-size:9.2pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;text-align:justify;margin:0pt 10.95pt 0pt 0pt;">A commitment fee of 2.0% of the Notes was payable under the SPA. <span style="-sec-ix-hidden:Hidden_wZQwKGjFWU226qJvODz46w;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Half</span></span> of such fee was paid by the issuance on the first closing of warrants to purchase 55,498 Fennec common shares (“First Closing Warrant”) and <span style="-sec-ix-hidden:Hidden_eE_ntNgYgU6GyyIBQkgZSQ;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">half</span></span> was payable in cash or warrants of 55,498 Fennec common shares (“Second Closing Warrant”), at our election, on the second closing. The warrants are exercisable at a price per share of $8.11 and have a term of <span style="-sec-ix-hidden:Hidden_LqLytCX9n0y6Pv0rjBGkQw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">five</span></span> years from the date of the grant. The Company elected to have all the commitment fee of the Notes payable in warrants.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 10.95pt 0pt 0pt;">On December 4, 2023, the Company closed a third tranche under the SPA in the amount of $5,000,000 (the “Third Closing Note”), which has an Initial Conversion Price equal to $7.89 per share, which was calculated based on a 20% premium of the 5-day VWAP immediately prior to September 20, 2022, which was the date the Company obtained FDA approval of PEDMARK<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup>. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 10.95pt 0pt 0pt;"><span style="font-size:12pt;margin-right:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Also on December 4, 2023, the Company entered into a First Amendment to the Securities Purchase Agreement (the “SPA Amendment”) with the Investor, which, among other things, extends the period that the Company may draw the remaining $15,000,000 under the SPA from December 31, 2023, to December 31, 2024. Subsequent draws are subject to mutual agreement of the Company and the Investor and will be represented by Notes that will also be convertible at a price equal </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">to $7.89 per share.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;text-align:justify;margin:0pt 10.95pt 0pt 0pt;"><span style="margin-right:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 6pt 0pt;">The Company believes current funds, which include funds from the First, Second and Third Closing Notes, provide sufficient funding for the Company to carry out its planned activities, including the continuation of commercialization efforts for at least the next twelve months of PEDMARK<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup>. In addition to the aforementioned, the Company announced in March of 2024 that is had secured an exclusive licensing agreement with Norgine to commercialize PEDMARQSI in Europe, Australia and New Zealand. The deal provided the Company with approximately $43 million up front, with the potential of approximately another $230 million in future royalties and milestone payments.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">These financial statements do not reflect the potentially material adjustments in the carrying values of assets and liabilities, the reported expenses, and the balance sheet classifications used, that would be necessary if the going concern assumption were not appropriate.</p>
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-16045000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-219245000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that impact the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. Significant estimates include revenue recognition, amount and timing of marketing and other services performed by certain distributors, allowance against trade receivables, measurement of stock-based compensation over the next twelve months from the date of issuance of the consolidated financial statements. Actual results could differ from those estimates.</p>
CY2023 fenc Discounts For Prompt Payment
DiscountsForPromptPayment
0.0065
CY2023 fenc Percentage Of Prompt Payment Discounts Expected To Pay Out
PercentageOfPromptPaymentDiscountsExpectedToPayOut
1
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
23782000
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1769000
CY2023 fenc Refunds Discounts And Allowances
RefundsDiscountsAndAllowances
2530000
CY2022 fenc Refunds Discounts And Allowances
RefundsDiscountsAndAllowances
234000
CY2023 us-gaap Revenues
Revenues
21252000
CY2022 us-gaap Revenues
Revenues
1535000
CY2022 fenc Discounts And Allowances Provision For Current Period Sales
DiscountsAndAllowancesProvisionForCurrentPeriodSales
235000
CY2022 fenc Discounts And Allowances Payments And Customer Credits Issued
DiscountsAndAllowancesPaymentsAndCustomerCreditsIssued
1000
CY2022Q4 fenc Provision For Discounts And Allowances
ProvisionForDiscountsAndAllowances
234000
CY2023 fenc Discounts And Allowances Provision For Current Period Sales
DiscountsAndAllowancesProvisionForCurrentPeriodSales
1764000
CY2023 fenc Discounts And Allowances Payments And Customer Credits Issued
DiscountsAndAllowancesPaymentsAndCustomerCreditsIssued
1203000
CY2023Q4 fenc Provision For Discounts And Allowances
ProvisionForDiscountsAndAllowances
795000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
300000
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000000
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.21;text-align:justify;margin:5.94pt 7.2pt 12pt 0pt;">Financial instruments that potentially subject the Company to credit risk primarily consist of cash and cash equivalents, and<span style="letter-spacing:2pt;"> </span>accounts<span style="letter-spacing:1.55pt;"> </span>receivable.<span style="letter-spacing:1.55pt;"> </span>The<span style="letter-spacing:1.55pt;"> </span>Company<span style="letter-spacing:1.55pt;"> </span>maintains<span style="letter-spacing:1.55pt;"> </span>deposits<span style="letter-spacing:1.55pt;"> </span>in<span style="letter-spacing:1.55pt;"> </span>highly-rated,<span style="letter-spacing:1.55pt;"> </span>federally-insured<span style="letter-spacing:1.55pt;"> </span>financial<span style="letter-spacing:1.55pt;"> </span>institutions<span style="letter-spacing:1.55pt;"> </span>in<span style="letter-spacing:1.55pt;"> </span>excess<span style="letter-spacing:1.55pt;"> </span>of<span style="letter-spacing:1.55pt;"> </span>federally<span style="letter-spacing:1.55pt;"> </span>insured<span style="letter-spacing:1.55pt;"> </span>limits.<span style="letter-spacing:2pt;"> </span>The<span style="letter-spacing:2pt;"> </span>Company’s<span style="letter-spacing:2pt;"> </span>investment<span style="letter-spacing:2pt;"> </span>strategy<span style="letter-spacing:2pt;"> </span>is<span style="letter-spacing:2pt;"> </span>focused<span style="letter-spacing:2pt;"> </span>on<span style="letter-spacing:2pt;"> </span>capital<span style="letter-spacing:2pt;"> </span>preservation.<span style="letter-spacing:2pt;"> </span>The<span style="letter-spacing:2pt;"> </span>Company<span style="letter-spacing:2pt;"> </span>invests<span style="letter-spacing:2pt;"> </span>in<span style="letter-spacing:2pt;"> </span>instruments<span style="letter-spacing:2pt;"> </span>that<span style="letter-spacing:2pt;"> </span>meet<span style="letter-spacing:2pt;"> </span>the<span style="letter-spacing:2pt;"> </span>high<span style="letter-spacing:2pt;"> </span>credit<span style="letter-spacing:2pt;"> </span>quality<span style="letter-spacing:2pt;"> </span>standards<span style="letter-spacing:2pt;"> </span>outlined<span style="letter-spacing:2pt;"> </span>in<span style="letter-spacing:2pt;"> </span>the<span style="letter-spacing:2pt;"> </span>Company’s<span style="letter-spacing:2pt;"> </span>investment<span style="letter-spacing:2pt;"> </span>policy.<span style="letter-spacing:2pt;"> </span>This<span style="letter-spacing:2pt;"> </span>policy<span style="letter-spacing:2pt;"> </span>also<span style="letter-spacing:2pt;"> </span>limits<span style="letter-spacing:2pt;"> </span>the<span style="letter-spacing:2pt;"> </span>amount<span style="letter-spacing:2pt;"> </span>of<span style="letter-spacing:2pt;"> </span>credit<span style="letter-spacing:2pt;"> </span>exposure<span style="letter-spacing:2pt;"> </span>to<span style="letter-spacing:2pt;"> </span>any<span style="letter-spacing:2pt;"> </span>one<span style="letter-spacing:2pt;"> </span>issue<span style="letter-spacing:2pt;"> </span>or<span style="letter-spacing:2pt;"> </span>type<span style="letter-spacing:2pt;"> </span>of<span style="letter-spacing:2pt;"> </span><span style="letter-spacing:-0.1pt;">instrument.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.2;text-align:justify;margin:0pt 7.45pt 12pt 0pt;">The Company’s trade receivables includes amounts billed to Customers, both specialty and select global distributors, for product sales of PEDMARK<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup>. Both specialty and select global distributors are a limited group of<span style="letter-spacing:1.35pt;"> </span>distributors,<span style="letter-spacing:1.4pt;"> </span>and<span style="letter-spacing:1.35pt;"> </span>accordingly,<span style="letter-spacing:1.35pt;"> </span>the<span style="letter-spacing:1.35pt;"> </span>Company<span style="letter-spacing:1.35pt;"> </span>considers<span style="letter-spacing:1.35pt;"> </span>the<span style="letter-spacing:1.35pt;"> </span>risk<span style="letter-spacing:1.4pt;"> </span>of<span style="letter-spacing:1.4pt;"> </span>potential<span style="letter-spacing:1.4pt;"> </span>credit<span style="letter-spacing:1.35pt;"> </span>losses<span style="letter-spacing:1.35pt;"> </span>to<span style="letter-spacing:1.35pt;"> </span>be<span style="letter-spacing:1.4pt;"> </span>low.</p>
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-16045000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-23714000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26574000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26275000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26574000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26275000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.60
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.90
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2970000
CY2023 us-gaap Restricted Stock Expense
RestrictedStockExpense
1300000
CY2022 us-gaap Restricted Stock Expense
RestrictedStockExpense
300000
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
13269000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
23774000
CY2021Q4 us-gaap Cash
Cash
307000
CY2023Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
30000000
CY2023Q4 fenc Debt Instrument Total Future Payments Due
DebtInstrumentTotalFuturePaymentsDue
30000000
CY2023Q4 fenc Payment Of In Kind Interest
PaymentOfInKindInterest
1219000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
288000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
30931000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards General Business
DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness
2086000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards General Business
DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness
2086000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
37143000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
30007000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Other
DeferredTaxAssetsTaxCreditCarryforwardsOther
297000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Other
DeferredTaxAssetsTaxCreditCarryforwardsOther
700000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
73000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
77000
CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1083000
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1083000
CY2023Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
62000
CY2022Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
0
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
40744000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
33953000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
40718000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33927000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
26000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
26000
fenc Adjustment To Net Product Sales
AdjustmentToNetProductSales
-200000
fenc Adjustment To Sales And Marketing Expenses
AdjustmentToSalesAndMarketingExpenses
-1200000
fenc Adjustment To Current Assets
AdjustmentToCurrentAssets
1000000.0
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1197000
CY2023Q3 us-gaap Assets Current
AssetsCurrent
19896000
CY2023Q3 us-gaap Assets
Assets
19978000
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
215613000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
9581000
CY2023Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
19978000
CY2023Q3 us-gaap Revenues
Revenues
6296000
us-gaap Revenues
Revenues
11298000
CY2023Q3 fenc Selling And Marketing Expenses
SellingAndMarketingExpenses
-2215000
fenc Selling And Marketing Expenses
SellingAndMarketingExpenses
-7086000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
917000
us-gaap Net Income Loss
NetIncomeLoss
12413000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
917000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12413000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
us-gaap Profit Loss
ProfitLoss
12413000
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
427000
fenc Non Cash Charges Subtotal Of Revised Amounts
NonCashChargesSubtotalOfRevisedAmounts
130000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12283000

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