07:19 AM EDT, 08/13/2024 (MT Newswires) -- Fennec Pharmaceuticals ( FENC ) on Tuesday said its second quarter net loss stayed flat while revenue more than doubled. The company also appointed Jeffrey Hackman as chief executive officer.

Fennec, which commercializes Pedmark, the FDA-approved treatment to reduce the risk of cisplatin-induced hearing loss in pediatric cancer patients, reported a net loss of US$5.5 million, or US$0.20 per share, compared with a net loss of US$5.4 million, or US$0.21 per share, last year.

Total revenue jumped to US$7.3 million, from $3.3 million.

Fennec appointed Jeffrey Hackman as chief executive officer, effective August 16. He takes over from Rosty Raykov, who has served as CEO since 2009 and will remain a board member. Hackman has over 30 years of commercial leadership experience, including oversight of more than 10 product launches. He has also commercialized products that are relevant to the Pedmark markets, including the outpatient oncology community and the adolescents and young adults (AYA) population, the company said.