Fennec Pharma(FENC) - 2023 Q4 - Annual Report

Financial Position - As of December 31, 2023, the company had $11.9 million in money market investments, a decrease from $23.5 million at the end of 2022[527] - The company has not experienced any loss or write-down of money market investments for the years ended December 31, 2023, and 2022[527] - The investment policy prioritizes preservation of principal, liquidity, and return on investment, with minimal risk associated with fluctuating interest rates[528] Currency and Market Risks - The company is subject to foreign currency risks, holding approximately CAD$0.47 and €0.1 as of December 31, 2023[529] - Sales of PEDMARK® will depend on reimbursement by payers, which may be limited or unavailable in certain market segments[18] Product Development and Regulatory Approval - PEDMARK® has received marketing approval from the FDA and the European Commission, but further approvals from other foreign authorities are pending[15] - The company may require additional financing to obtain regulatory approval for and commercialize PEDMARK®, which could impact product development[13] Operational Challenges - The company has a history of significant losses and limited revenue generation from product sales since inception[13] - The ongoing COVID-19 pandemic may adversely affect the company's business and financial condition[13] - The company is highly dependent on a small number of key personnel and advisors, which poses a risk to its operations[18]