Overview

• US specialty pharma's Q1 product sales rose 73% yr/yr on higher PEDMARK adoption

• Company posted net income of $201,000, reversing a loss a year ago

• Growth driven by expanded field sales and increased demand for PEDMARK

Outlook

• Company expects to deliver sustained growth throughout 2026

• Company anticipates cash and projected PEDMARK revenue will fund operations under current plan

• Company sees growing clinical interest in PEDMARK across new patient populations

Result Drivers

• PEDMARK ADOPTION - Co said higher Q1 sales were driven by increased adoption and deeper utilization of PEDMARK across both new and existing accounts, including in the AYA population

• FIELD SALES EXPANSION - Strategic expansion of field sales force supported execution and contributed to record PEDMARK demand, per management

• PATIENT SERVICES PROGRAM - Operational improvements in Fennec HEARS program led to more patients entering the funnel and improved patient experience, supporting PEDMARK utilization

Company press release: ID:nGNXbFC88G

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 PEDMARK Product Sales		$15.11 mln
Q1 Net Income		$201,000
Q1 Basic EPS		$0.01
Q1 Operating Expenses		$15.23 mln
Q1 Operating Income		-$119,000

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Fennec Pharmaceuticals Inc is $15.50, about 129% above its May 13 closing price of $6.77

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

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