01:55 PM EDT, 08/13/2024 (MT Newswires) -- Fennec Pharmaceuticals ( FENC ) reported its second quarter earnings, but Pedmark revenue of US$7.3 million, missed Wedbush's US$8.4 million estimate. "The shortfall was likely due to continued use of Pedmark substitutes and the usual lumpiness frequently observed with early launches," notes Wedbush analyst David Nierengarten.

Fennec's field team continues to penetrate the community treated adolescents and young adults (AYA) population, a larger and more lucrative (due to higher dosing) patient population compared to the in-patient pediatric population; however, the company still sees opportunity for its base pediatric business to grow, Nierengarten adds.

The new CEO Jeffrey Hackman has extensive experience with commercializing oncology products in the U.S., as well as transitioning products from pediatric to AYA settings.

Fennec is rated Outperform, with a US$14 target.

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