Adherex Technologies Inc. (FENC) Reports Q3 Loss, Misses Revenue Estimates

Company Performance - Adherex Technologies Inc. reported a quarterly loss of $0.21 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.13, and compared to a loss of $0.07 per share a year ago, indicating a significant decline in performance [1] - The company posted revenues of $6.97 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 23.61%, although this represents an increase from year-ago revenues of $6.52 million [2] - Over the last four quarters, Adherex Technologies has not surpassed consensus EPS estimates, and its shares have lost about 55.9% since the beginning of the year, contrasting with the S&P 500's gain of 24.3% [3][4] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.12 on revenues of $16.53 million, and for the current fiscal year, it is $0.08 on revenues of $58.33 million [7] - The estimate revisions trend for Adherex Technologies is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Adherex Technologies belongs, is currently in the top 36% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% of ranked industries [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor decisions [5]