Fennec Pharmaceuticals (TSE:FRX) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Fennec Pharmaceuticals Inc. (TSE:FRX) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$13.94 and traded as high as C$14.65. Fennec Pharmaceuticals shares last traded at C$14.65, with a volume of 412 shares.

Fennec Pharmaceuticals Trading Up 3.0%

The company has a market capitalization of C$508.90 million, a P/E ratio of -50.52 and a beta of 3.52. The stock’s fifty day moving average is C$13.94 and its 200 day moving average is C$11.48.

Insider Buying and Selling

In other news, Director Rostislav Christov Raykov acquired 15,597 shares of the business’s stock in a transaction on Monday, June 1st. The shares were acquired at an average cost of C$3.37 per share, with a total value of C$52,561.89. Following the transaction, the director owned 2,755,851 shares in the company, valued at C$9,287,217.87. The trade was a 0.57% increase in their position. Also, Director Chris Anigeron Rallis acquired 14,344 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was purchased at an average price of C$3.35 per share, with a total value of C$48,052.40. Following the acquisition, the director owned 69,660 shares of the company’s stock, valued at C$233,361. This represents a 25.93% increase in their position. Corporate insiders own 16.20% of the company’s stock.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom ( U.K. ) approval in October 2023 under the brand name PEDMARQSI®. In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, with rights to commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand.