04:34 PM EST, 11/13/2025 (MT Newswires) -- Fennec Pharmaceuticals ( FENC ) fell 3.1% in after-hours Nasdaq trade after the company on Thursday said its third-quarter loss narrowed significantly as revenue almost doubled.

The company's loss narrowed to US$0.6 million, or US$0.02 per share, from a loss of US$5.7 million, or US$0.21, in the prior-year quarter.

Revenue, comprised entirely of Pedmark product sales, jumped to a record US$12.5 million, from US$7 million, last year. Pedmark is an FDA-approved therapy to treat cisplatin-induced hearing loss in pediatric and young adult patients.

Fennec said preliminary results from the investigator-initiated clinical trial in Japan evaluating Pedmark are expected in the fourth quarter. If the data are positive, the company will pursue registration in Japan and will also explore partnering or licensing opportunities for the therapy.

"Today marks an inflection point for Fennec as we delivered the strongest quarter in our history. Record net product sales, four consecutive quarters of double-digit growth, and our first profitable quarter from operations, clearly demonstrate that our strategy is working," said chief executive Jeff Hackman.

Fennec separately said it plans a public offering of shares. The underwriters will also be granted a 15% over-allotment option but size and pricing of the offer is not year determined. Proceeds will be used to pay down certain debt.

Fennec shares were last seen down US$0.24 to US$7.45 after hours. They closed unchanged at $10.98 on the Toronto Stock Exchange.