RESEARCH TRIANGLE PARK, N.C., Dec. 12, 2017 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX), a biotechnology company focused on the development of PEDMARK™ (a unique formulation of sodium thiosulfate (STS)) for the prevention of platinum-induced ototoxicity from cisplatin in pediatric cancer patients, today announced the closing of its previously announced underwritten public offering of 2,352,950 common shares at a public offering price of $8.50 per share. In addition, Fennec issued an additional 135,670 common shares in connection with the partial exercise of the underwriters’ over-allotment option. The total gross proceeds from the offering (before deducting the underwriting discounts and offering expenses) was $21,153,270.
Wedbush PacGrow acted as the sole book-running manager for the offering. H.C. Wainwright & Co. acted as the co-manager.
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.