Aegis Capital has issued a ‘Buy’ rating and price target of $5 on Fennec Pharmaceuticals (OTCQB: FENCF). The specialty pharmaceuticals company recently reported its corporate update and financial results for the first quarter of 2017, including cash and cash equivalents on hand of $3.3 million, as of March 31, 2017. The analyst expects this should fund operations into 2018. The analyst also noted that the company’s potential new therapy for preventing cisplatin associated ototoxicity, Sodium Thiosulfate (STS), could fill a largely unmet need to avoid negative impact on quality of life. The company is preparing for NDA and MAA submissions, pending favorable SIOPEL 6 hearing results, which are expected in October 2017.
For more information, visit www.fennecpharma.com
About Fennec Pharmaceuticals
Fennec Pharmaceuticals, Inc., is a specialty pharmaceutical company focused on the development of Sodium Thiosulfate (STS) for the prevention of platinum-induced ototoxicity in pediatric patients. STS has received Orphan Drug Designation in the US in this setting.
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