Fennec Pharma Q3 product sales rise 56% on PEDMARK demand
FENC•Fennec Pharma’s third-quarter product sales rose 56% year over year to $19.43 million, driven by PEDMARK demand. Adjusted EBITDA reached $5.8 million, up from $2.0 million a year earlier, and cash grew to $48.7 million.
1. Sales and earnings
Fennec Pharma attributed the 56% year-over-year increase in third-quarter product sales to growth across PEDMARK accounts, including new accounts among adolescents and young adults. Non-GAAP adjusted EBITDA was $5.8 million, compared with $2.0 million a year earlier, while net income was $4.64 million.
2. Demand and cash
The expanded commercial organization drove sequential demand growth, with program enrollments up 23% and completed infusions up 58% from the second quarter. Cash reached $48.7 million, supported by $6.7 million in positive cash flow. Fennec expects continued PEDMARK demand growth and says current cash and projected PEDMARK revenue will fund its business under its current plan.
