Fennec Pharmaceuticals Inc. announced total net revenues of $8.8 million for the first quarter of 2025, an 18% increase year-over-year compared to Q1 2024. This marks the second consecutive quarter of growth in net product sales, which also increased 11% sequentially from Q4 2024.
As of March 31, 2025, the company reported cash and cash equivalents of $22.6 million, with a Q1 2025 cash burn of approximately $4 million. Management stated that current funds, significantly bolstered by the $43.2 million upfront payment from Norgine received in March 2024, are sufficient to fund planned operations for at least the next twelve months.
Management anticipates the most significant quarterly growth in net product sales in the second half of 2025. The company targets achieving quarterly net product sales of roughly $8.5 million to $9 million to reach cash flow breakeven, while maintaining full-year 2025 cash operating expenses similar to 2024 levels, around $33 million.
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