07:17 AM EDT, 05/13/2025 (MT Newswires) -- Fennec Pharmaceuticals ( FENC ) rose nearly 10% in U.S. pre-market trading on Tuesday after saying it swung to a first-quarter loss as revenue fell. However, Pedmark sales advanced.

The company recorded a net loss of US$1.2 million, or US$0.04 per diluted share, compared with a profit of US$12.8 million, or US$0.41 per diluted share, in the prior-year period.

Revenue fell over 65% to US$8.8 million, as Fennec did not record any licensing revenue for the quarter. Pedmark sales rose 19% to US$8.8 million from US$7.4 million in the first quarter of 2024.

"In the first quarter, we sharpened our strategic focus and achieved sustainable growth across key Pedmark accounts. Importantly, our Fennec HEARS patient support program has been newly revamped to ensure growth with a seamless, supportive experience for both providers and adolescent and young adult, or AYA, cancer patients at every step of the Pedmark journey," said Jeff Hackman, chief executive officer.

The company's shares were last seen up US$0.60, to US$6.87 in New York pre-market trading.