06:21 AM EST, 11/14/2025 (MT Newswires) -- Fennec Pharmaceuticals ( FENC ) , a specialty drug developer, late Thursday priced its underwritten public offering of 4,666,667 common shares at US$7.50 each. The company also granted underwriters a 30-day option to buy up to an additional 700,000 shares on the same terms.

The company anticipates the total gross proceeds from the offering (before deducting the underwriting discounts and offering expenses) will be approximately $35 million, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on November 17, 2025, subject to customary closing conditions.

Fennec said it intends to use the net proceeds of the offering to repurchase and redeem certain indebtedness and the remaining net proceeds, if any, for working capital and general corporate purposes.

Separately, the company also announced that that it intends to engage in a non-brokered offering of its common shares in Canada, at a price of $7.50 per share, with certain of its existing institutional shareholders, for aggregate gross proceeds of up to $5.025 million. The offering is expected to close on November 17, 2025, subject to the company entering into subscription agreements with investors in the offering, if any, and certain customary closing conditions including, but not limited to, the receipt of all necessary approvals, including approval from the Toronto Stock Exchange.

FRX was unchanged on the TSX yesterday, after reporting its third quarter results. The company said its third-quarter loss narrowed significantly as revenue almost doubled.