Fennec Pharmaceuticals (NASDAQ:FENC) shares climbed more than 3% in premarket trading on Thursday after the company reported first-quarter results that exceeded analyst expectations, supported by strong sales growth for PEDMARK.
The company posted adjusted earnings per share of $0.01, outperforming consensus forecasts for a loss of $0.04 per share.
Revenue increased 73% year over year to $15.11 million, ahead of analyst estimates of $14.65 million and up from $8.75 million in the same quarter last year.
PEDMARK Expansion Drives Revenue Growth
Fennec said the increase in revenue was primarily driven by broader adoption of PEDMARK across existing and new accounts, including growth within the adolescent and young adult patient population.
“We are encouraged by our continued quarter-over-quarter growth and strong start to the year,” said Jeff Hackman, chief executive officer of Fennec Pharmaceuticals. “The strategic enhancements we’ve made to our field force are already sharpening our execution and expanding our reach.”
Commercialisation Costs Increase as Sales Force Expands
Selling and marketing expenses rose to $11.4 million during the quarter, compared with $3.2 million a year earlier, largely reflecting increased spending tied to PEDMARK commercialisation efforts and the expansion of the company’s sales team.
Meanwhile, general and administrative expenses declined to $3.2 million from $5.9 million in the prior-year quarter, mainly due to lower legal and professional fees following the conclusion of litigation-related activities.
Cancer Treatment Demand Remains Strong
The company said demand for PEDMARK continued to be supported by prescriptions related to three primary tumour categories: testicular cancer, cervical cancer, and head and neck cancers.
In April 2026, Fennec announced the launch of an investigator-sponsored study led by the University of Arizona Cancer Center to evaluate PEDMARK in adolescent, young adult and adult patients with head and neck and testicular cancers.
Company Maintains Solid Cash Position
Fennec ended the quarter with cash and cash equivalents totaling $40.1 million, compared with $36.8 million at the end of 2025.
The company said it expects its current cash reserves, together with anticipated PEDMARK revenue, to be sufficient to support operations under its existing business plan.