07:06 AM EDT, 03/21/2024 (MT Newswires) -- Fennec Pharmaceuticals ( FENC ) , which is up 3.2% in US premarket trade, reported its Q4 2023 results.

The company, which reports in US$, recorded net loss of $2.7 million, or $(0.10) per share, compared with net loss of $6.9 million and $(0.26) per share, last year.

Pedmark net product sales was $9.74 million, versus $1.5 million, last year.

Cash and cash equivalents were $13.2 million as of December 31, 2023. There was a $10.5 million decrease in cash and cash equivalents between December 31, 2023 and December 31, 2022 as a result of cash outlays for operating expenses related to the promotion and marketing of Pedmark, G&A expenses and the preparation for the commercial launch of Pedmarqsi in Europe.

The company reported pro forma fourth quarter cash of over $55 million.