06:56 AM EST, 11/07/2024 (MT Newswires) -- Fennec Pharmaceuticals ( FENC ) on Thursday said its third-quarter net loss widened on higher expenses.

The net loss increased to US$5.7 million, or US$0.21 per share, from US$1.9 million and US$0.07 per share last year. Expenses increased to US$6.1 million from last year's US$3.8 million.

Net product sales rose to US$7 million, from US$6.5 million.

"We are making significant headway that will position us for near-term and sustainable growth, including market expansion to the Adolescent and Young Adult community with payor reimbursement, and adoption within prominent academic centers," said Jeff Hackman, chief executive officer. "Our strategic and focused investments in educational initiatives reflect the strength of the foundation we are building upon with PedmarK."

Fennec's Pedmark is approved to treat chemotherapy-induced hearing loss in pediatric cancer patients.