Financial Performance - As of December 31, 2024, the company had 11.9 million at December 31, 2023, indicating a significant growth in liquid assets [555]. - The company has not experienced any loss or write-down of its money market investments for the years ended December 31, 2024, and 2023, reflecting stable investment performance [556]. - The company has a history of significant losses and limited revenue generation from product sales since inception, highlighting financial challenges [15]. Investment Strategy - The investment policy prioritizes preservation of principal, liquidity, and return on investment, with minimal risk associated with fluctuating interest rates [557]. Regulatory and Market Challenges - The commercialization of PEDMARK® is critical, as the company is a single product entity with limited commercial experience, complicating future financial forecasts [19]. - Regulatory approvals for PEDMARK® have been obtained, but ongoing regulatory review and potential restrictions remain a concern for market acceptance [19]. - The company may require additional financing for further product development and regulatory approvals, which could impact operational capabilities [15]. - The company faces substantial competition in the biopharmaceutical market, which could adversely affect its market position and financial performance [19]. Operational Risks - The company is subject to foreign currency risks, holding approximately CAD$0.16 million and €0.24 million as of December 31, 2024, to manage obligations in Canada and the EU [558]. - The company relies on third parties for raw materials and manufacturing, and any failure in their performance could materially impact business operations [17].
Fennec Pharma(FENC) - 2024 Q4 - Annual Report