Fennec Pharmaceuticals $FENC stock continues to move higher in a powerful uptrend channel as of November 1, 2022. The company has launched Pedmark in the U.S.
Fennec Pharmaceuticals Announces Commercial Availability of PEDMARK in the US
On October 17, 2022, Fennec Pharmaceuticals said that PEDMARK was available in the US and could help reduce the risk of ototoxicity in children one month of age and older with solid tumors that were not spread throughout the body.
In September 2022, the FDA approved PEDMARK based on safety and effectiveness data from two open-label, randomized Phase 3 trials that compared PEDMARK plus a cisplatin-based treatment to a cisplatin-based treatment alone for reducing cisplatin-induced hearing loss in children.
“We are proud to announce that PEDMARK is now available to pediatric patients and their physicians who are in need of options to help reduce the risk of cisplatin-induced hearing loss,” said Rosty Raykov, chief executive officer of Fennec Pharmaceuticals. “Children who get platinum-based chemotherapy, such as cisplatin, are at risk for permanent hearing loss, a condition that previously could only be managed with cochlear implants and hearing aids. PEDMARK provides the first and only FDA-approved treatment specifically designed to help protect hearing in children and young adults after receiving cisplatin. We look forward to engaging with healthcare providers and supporting patient access to this breakthrough therapy with our assistance program, Fennec HEARS™.”
Fennec price target raised at HC Wainwright
On October 20, 2022, HC Wainwright analyst Raghuram Selvaraju raised the company’s price target on Fennec Pharmaceuticals to $18 from $14 and maintained a Buy rating following the company’s Pedmark launch.
Fennec Pharmaceuticals $FENC Stock Technical Analysis
Fennec Pharmaceuticals $FENC stock is in a technical strong uptrend. Long-term indicators suggest a continuation of the uptrend. Short-term indicators suggest that the stock is in overbought territory, so profit taking or a trend reversal is possible. The stock is in an uptrend channel chart pattern.