$FENC
FENNEC PHARMACEUTICALS INC.

2024 Q2 Form 10-Q Financial Statement

#000155837024008162 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $7.262M $25.38M
YoY Change 118.41% 1413.24%
Cost Of Revenue $608.0K $550.0K
YoY Change 310.81% 478.95%
Gross Profit $6.654M $24.83M
YoY Change 109.44% 1469.34%
Gross Profit Margin 91.63% 97.83%
Selling, General & Admin $11.54M $11.08M
YoY Change 47.24% 61.81%
% of Gross Profit 173.37% 44.63%
Research & Development $157.0K $3.000K
YoY Change 1862.5% -25.0%
% of Gross Profit 2.36% 0.01%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $12.30M $11.63M
YoY Change 56.84% 69.79%
Operating Profit -$5.039M $13.74M
YoY Change 7.99% -360.78%
Interest Expense -$514.0K -$906.0K
YoY Change -33.93% 15.86%
% of Operating Profit -6.59%
Other Income/Expense, Net -$514.0K -$906.0K
YoY Change -33.93% 15.86%
Pretax Income -$5.553M $12.84M
YoY Change 2.0% -312.11%
Income Tax
% Of Pretax Income
Net Earnings -$5.553M $12.84M
YoY Change 2.0% -312.11%
Net Earnings / Revenue -76.47% 50.59%
Basic Earnings Per Share -$0.20 $0.41
Diluted Earnings Per Share -$0.20 $0.41
COMMON SHARES
Basic Shares Outstanding 27.32M 27.10M
Diluted Shares Outstanding 27.30M 31.09M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.05M $51.18M
YoY Change 187.83% 178.33%
Cash & Equivalents $43.05M $51.18M
Short-Term Investments
Other Short-Term Assets $283.0K $161.0K
YoY Change -42.13% 403.13%
Inventory $2.144M $2.064M
Prepaid Expenses $4.379M $4.488M
Receivables $12.31M $10.27M
Other Receivables $0.00 $0.00
Total Short-Term Assets $62.17M $68.17M
YoY Change 221.62% 214.7%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $989.0K $1.022M
YoY Change 833.02% 542.77%
Total Long-Term Assets $989.0K $1.022M
YoY Change 833.02% 542.77%
TOTAL ASSETS
Total Short-Term Assets $62.17M $68.17M
Total Long-Term Assets $989.0K $1.022M
Total Assets $63.16M $69.19M
YoY Change 224.95% 217.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.447M $5.204M
YoY Change 47.99% 76.59%
Accrued Expenses $3.038M $4.363M
YoY Change 293.01% 306.62%
Deferred Revenue $252.0K $252.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.749M $9.836M
YoY Change 105.11% 144.68%
LONG-TERM LIABILITIES
Long-Term Debt $30.00M $30.00M
YoY Change 20.0% 20.0%
Other Long-Term Liabilities $26.77M $26.34M
YoY Change 6834.97% 18716.43%
Total Long-Term Liabilities $56.77M $56.34M
YoY Change 123.62% 124.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.749M $9.836M
Total Long-Term Liabilities $56.77M $56.34M
Total Liabilities $64.52M $66.18M
YoY Change 121.22% 126.95%
SHAREHOLDERS EQUITY
Retained Earnings -$212.0M -$206.4M
YoY Change -1.27% -1.36%
Common Stock $209.4M $208.2M
YoY Change 2.77% 3.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.357M $3.014M
YoY Change
Total Liabilities & Shareholders Equity $63.16M $69.19M
YoY Change 224.95% 217.09%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$5.553M $12.84M
YoY Change 2.0% -312.11%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$8.387M $39.05M
YoY Change 112.54% -800.14%
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
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 257.0K -1.132M
YoY Change -50.0% -686.53%
NET CHANGE
Cash From Operating Activities -8.387M 39.05M
Cash From Investing Activities
Cash From Financing Activities 257.0K -1.132M
Net Change In Cash -8.130M 37.92M
YoY Change 136.89% -804.22%
FREE CASH FLOW
Cash From Operating Activities -$8.387M $39.05M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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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, an Irish Private Company Limited by Shares (“Fennec Limited”), collectively referred to herein as the “Company,” is a biopharmaceutical company with one U.S. Food and Drug Administration (“FDA”) approved product, PEDMARK<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup>, 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 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 unaudited interim condensed 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 three months ended March 31, 2024, the Company earned net income from operations of $13,743. On March 31, 2024, it had an accumulated deficit of $206,408 and had experienced positive cash flows from operating activities in the amount of $39,047 for the period ended March 31, 2024.</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 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:1.31;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:1.31;text-align:justify;margin:0pt 10.95pt 0pt 0pt;">The SPA provided that subsequent to the funding of the Second Closing Note, and before December 31, 2023, the Company could draw up to $20,000 of additional financing under the SPA, in one or more tranches of $10,000 upon mutual agreement of the Company and the Investor (the “Subsequent Closing Notes”). The Subsequent Closing Notes will be convertible at a price per share equal to $7.89 per share, which price is calculated on the same basis as for the Second Closing Note.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:8.95pt;text-align:justify;margin:0pt;"><span style="font-size:8.95pt;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, which was paid by the Company issuing the Investor warrants to purchase 110,996 of the Company’s common shares (one half <span style="-sec-ix-hidden:Hidden_f6lbQPS3jESXX_EQ0BXd7Q;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">issued</span></span> at the first closing and the other half  <span style="-sec-ix-hidden:Hidden_77nrFEm2xUaFKqeynlWfHg;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">issued</span></span> at the second closing).The warrants are exercisable at a price per share of $8.11 and have a term of five years from the date of the grant. </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;"><span style="font-family:'Times New Roman;">On December 4, 2023, the Company closed a third tranche under the SPA in the amount of </span><span style="font-family:'Times New Roman;">$5,000,000</span><span style="font-family:'Times New Roman;"> and issued the Investor a Note in the same amount (the “Third Closing Note”). and the Third Closing Note is convertible at a price equal to </span><span style="font-family:'Times New Roman;">$7.89</span><span style="font-family:'Times New Roman;"> per share, calculated as a </span><span style="font-family:'Times New Roman;">20%</span><span style="font-family:'Times New Roman;"> premium of the </span><span style="font-family:'Times New Roman;">5</span><span style="font-family:'Times New Roman;">-day volume weighted average price of the Company’s common shares as traded on the Nasdaq Capital Market immediately prior to September 20, 2022, which was the date the Company obtained FDA approval of PEDMARK</span><span style="font-family:'Times New Roman;vertical-align:super;">®</span><span style="font-family:'Times New Roman;">.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:24.75pt;margin:0pt 10.95pt 0pt 10pt;"><span style="font-family:'Liberation Serif';font-size:12pt;"> </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-family:'Times New Roman;">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 </span><span style="font-family:'Times New Roman;">$15,000,000</span><span style="font-family:'Times New Roman;"> 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 to </span><span style="font-family:'Times New Roman;">$7.89</span><span style="font-family:'Times New Roman;"> per share.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-family:'Times New Roman;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-family:'Times New Roman;">On March 17, 2024, the Company announced it had entered into an exclusive licensing agreement with </span><span style="font-family:'Times New Roman;">Norgine Pharma UK Limited (“Norgine”) </span><span style="font-family:'Times New Roman;">to commercialize PEDMARQSI</span><sup style="font-family:'Times New Roman;font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">® </sup><span style="background:#ffffff;">(EU brand name for PEDMARK</span><sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;background:#ffffff;">®</sup><span style="background:#ffffff;">) </span><span style="font-family:'Times New Roman;">in Europe, New Zealand and Australia. The licensing agreement provided Fennec with approximately </span><span style="font-family:'Times New Roman;">$43.2</span><span style="font-family:'Times New Roman;"> million up front and may provide Fennec with up to approximately </span><span style="font-family:'Times New Roman;">$230</span><span style="font-family:'Times New Roman;"> million in milestone and royalty payments in the future.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-family:'Times New Roman;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 provide sufficient funding for the Company to carry out its planned activities, including the continuation of commercialization efforts of PEDMARK<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup>, for at least the next twelve months.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 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>
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
13743000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-206408000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
39047000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;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, allowance against trade receivables, measurement of stock-based compensation and estimates of the Company’s capital requirement over the next twelve months from the date of issuance of the consolidated financial statements. Actual results could differ from those estimates.</p>
CY2024Q1 fenc Discounts For Prompt Payment
DiscountsForPromptPayment
0.0065
CY2024Q1 fenc Percentage Of Prompt Payment Discounts Expected To Pay Out
PercentageOfPromptPaymentDiscountsExpectedToPayOut
1
CY2023Q4 fenc Provision For Discounts And Allowances
ProvisionForDiscountsAndAllowances
795000
CY2024Q1 fenc Discounts And Allowances Provision For Current Period Sales
DiscountsAndAllowancesProvisionForCurrentPeriodSales
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CY2024Q1 fenc Discounts And Allowances Payments And Customer Credits Issued
DiscountsAndAllowancesPaymentsAndCustomerCreditsIssued
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CY2024Q1 fenc Provision For Discounts And Allowances
ProvisionForDiscountsAndAllowances
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1103000
CY2024Q1 us-gaap Cash
Cash
51184000
CY2023Q4 us-gaap Cash
Cash
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CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
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CY2024Q1 us-gaap Concentration Risk Credit Risk
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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;">Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.2;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 0pt 0pt;">The Company’s trade receivables includes amounts billed to Customers for product sales of PEDMARK<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup>. In the U.S., the customers are a limited group of<span style="letter-spacing:1.35pt;"> </span>specialty<span style="letter-spacing:1.4pt;"> </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. The Company also sells to a select group of global distributors. These global </p>
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
12837000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-6052000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27045000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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DilutiveEffectOfRestrictedShareUnits
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CY2023Q1 fenc Dilutive Effect Of Restricted Share Units
DilutiveEffectOfRestrictedShareUnits
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CY2024Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
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CY2023Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
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WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26559000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2024Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2023Q1 fenc Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
0
CY2024Q1 fenc Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
0
CY2024Q1 fenc Class Or Warrant Or Right Outstanding Weighted Average Remaining Contractual Terms
ClassOrWarrantOrRightOutstandingWeightedAverageRemainingContractualTerms
P3Y9M18D
CY2024Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1191000
CY2023Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1089000
CY2024Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
51184000
CY2023Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
13269000
CY2024Q1 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
4000
CY2023Q1 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
25000
CY2024Q1 fenc Operating Lease Penalties And Contingent Payments Payable
OperatingLeasePenaltiesAndContingentPaymentsPayable
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CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
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CY2024Q1 fenc Payment Of In Kind Interest
PaymentOfInKindInterest
1617000
CY2024Q1 fenc Debt Instrument Total Future Payments Due
DebtInstrumentTotalFuturePaymentsDue
31617000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
268000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
31349000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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