RESEARCH TRIANGLE PARK, N.C., Dec. 08, 2017 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX), a biotechnology company focused on the development of PEDMARKTM (a unique formulation of sodium thiosulfate (STS)) for the prevention of platinum-induced ototoxicity from cisplatin in pediatric cancer patients, today announced the pricing of its underwritten public offering of 2,352,950 common shares at a public offering price of $8.50 per share. In addition, Fennec has granted the underwriters a 30-day option to purchase up to an additional 352,942 common shares. Fennec anticipates the total gross proceeds from the offering (before deducting the underwriting discounts and offering expenses) will be approximately $20 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on December 12, 2017, subject to customary closing conditions.
About PEDMARK™ (Sodium Thiosulfate (STS))
Cisplatin and other platinum compounds are essential chemotherapeutic components for many pediatric malignancies. Unfortunately, platinum-based therapies cause ototoxicity in many patients, and are particularly harmful to the survivors of pediatric cancer.