Fennec Pharmaceuticals Enters Material Definitive Agreement

TL;DR

Fennec Pharma signed a big deal, details to come.

AI Summary

Fennec Pharmaceuticals Inc. announced on March 15, 2024, that it has entered into a Material Definitive Agreement. The company also reported on other events and filed financial statements and exhibits. Specific details of the agreement and financial performance were not immediately available in this filing.

Why It Matters

This filing indicates a significant new contract or partnership for Fennec Pharmaceuticals, which could impact its future revenue and operations.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities, the impact of which is not yet fully disclosed.

Key Players & Entities

• Fennec Pharmaceuticals Inc. (company) — Registrant
• March 15, 2024 (date) — Date of earliest event reported

FAQ

Filing Documents

• tm249428d1_8k.htm (8-K) — 30KB
• tm249428d1_ex10-1.htm (EX-10.1) — 343KB
• tm249428d1_ex99-1.htm (EX-99.1) — 17KB
• tm249428d1_ex10-1img001.jpg (GRAPHIC) — 3KB
• tm249428d1_ex99-1img001.jpg (GRAPHIC) — 3KB
• tm249428d1_ex99-1img002.jpg (GRAPHIC) — 3KB
• 0001104659-24-037255.txt ( ) — 651KB
• fencf-20240315.xsd (EX-101.SCH) — 3KB
• fencf-20240315_lab.xml (EX-101.LAB) — 33KB
• fencf-20240315_pre.xml (EX-101.PRE) — 22KB
• tm249428d1_8k_htm.xml (XML) — 4KB

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Item 1.01 Entry into a Material Definitive Agreement. On March 15, 2024, Fennec Pharmaceuticals, Inc., a Delaware corporation ("Fennec") and wholly owned subsidiary of Fennec Pharmaceuticals Inc. (the "Company"), entered into a License and Supply Agreement (the "Agreement") with Norgine Pharma UK Limited ("Norgine"), pursuant to which Norgine is granted an exclusive license to commercialize the Company's product PEDMARQSI (known as PEDMARK in the United States) for all human indications in the European Economic Area, Switzerland, the United Kingdom, Australia and New Zealand (collectively, the "Territory"). Pursuant to the terms of the Agreement, Fennec shall receive the following payments from Norgine: (i) an upfront payment in the amount of 40 million, which was paid to Fennec on March 15, 20424, (ii) up to 210 million upon the achievement of certain regulatory and commercial milestones, and (iii) tiered royalty payments based on net sales of PEDMARQSI in the Territory, which royalty payment range from mid-teen percent to mid-twenty percent based on the aggregate net sales of PEDMARQSI in the Territory. The tiered royalty payments are subject to material reduction if an alternative or generic version of PEDMARQSI becomes available in any respective country or jurisdiction within the Territory. of each party to earlier terminate the Agreement, the term of the Agreement continues for the longer of: (i) March 15, 2034, or (ii) with respect to any particular country in the Territory, (a) the expiration of regulatory market exclusivity for PEDMARQSI in such country, or (b) the last-to-expire of all patents for PEDMARQSI in such country. The term of the Agreement shall be automatically renewed for additional three-year periods unless either party provides the other party written notice of its intent not to renew the Agreement at least one year prior to the applicable termination date of the Agreement. The foregoing description of the A

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Item 8.01 Other Events. On March 18, 2024, the Company issued a press release announcing the Agreement. A copy of the press release is filed as Exhibit 99.1 hereto. The information contained in this Item 8.01, including Exhibit 99.1 filed herewith, is being furnished and shall not be deemed to be filed for the purposes of Section 18 of the Exchange Act, or incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless such subsequent filing specifically references this Form 8-K.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1* License and Supply Agreement, dated March 15, 2024, between Fennec Pharmaceuticals, Inc. and Norgine Pharma UK Limited. 99.1 Press Release dated March 18, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * In accordance with Item 601(b)(10)(iv) of Regulation S-K, certain provisions and terms of this exhibit have been redacted. Fennec will provide an unredacted copy of the exhibit on a supplemental basis to the SEC or its staff upon request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 21, 2024 FENNEC PHARMACEUTICALS INC. By: /s/ Robert Andrade Robert Andrade Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR