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Investigation announced for Investors in shares of Fennec Pharmaceuticals Inc. (NASDAQ: FENC) over potential Wrongdoing

01-29-2022 04:59 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Fennec Pharmaceuticals Inc. (NASDAQ: FENC) shares over potential wrongdoing.

An investigation on behalf of investors in Fennec Pharmaceuticals Inc. (NASDAQ: FENC) shares over potential wrongdoing.

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Fennec Pharmaceuticals Inc.

Investors who purchased shares of Fennec Pharmaceuticals Inc. (NASDAQ: FENC) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Fennec Pharmaceuticals directors breached their fiduciary duties and caused damage to the company and its shareholders.

North Carolina based Fennec Pharmaceuticals Inc., a biopharmaceutical company, develops product candidates for use in the treatment of cancer in the United States.

On November 29, 2021, Fennec Pharmaceuticals Inc. (NASDAQ: FENC) that “. . . it expects the U.S. Food and Drug Administration will not accept the company’s New Drug Application for PEDMARK™.”

Fennec Pharmaceuticals Inc. also stated that “. . . it expects to receive a Complete Response Letter (CRL) after the PDUFA target action date of November 27, 2021 from the U.S. Food and Drug Administration (FDA) regarding its New Drug Application (NDA) for PEDMARKTM (a unique formulation of sodium thiosulfate), for intravenous administration for the prevention of ototoxicity associated with cisplatin chemotherapy in pediatric patients ≥1 month to 18 years of age with localized, non-metastatic, solid tumors.”
Further, Fennec Pharmaceuticals Inc. reported that “[t]he FDA has indicated that, following a recent completion of a pre-approval inspection of the manufacturing facility of our drug product manufacturer, deficiencies have been identified.”

Shares of Fennec Pharmaceuticals Inc. (NASDAQ: FENC) declined from $10.05 per share on November 23, 2021, to as low as $3.822 per share on December 1, 2021.

Those who purchased shares of Fennec Pharmaceuticals Inc. (NASDAQ: FENC) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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