Fennec Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Core Insights - Fennec Pharmaceuticals announced the grant of incentive stock options to 24 new non-executive employees as part of its 2026 Equity Inducement Plan, totaling 377,500 shares [1][2] Group 1: Stock Options and Inducement Plan - The incentive stock options (ISOs) have an exercise price of $5.77 per share, equal to the closing price on March 30, 2026, and a term of ten years from the grant date [3] - One-third of the shares underlying each ISO will vest on the one-year anniversary of the grant date, with the remaining shares vesting monthly over the following 24 months, contingent on continued employment [3] Group 2: Company Overview - Fennec Pharmaceuticals is focused on combating ototoxicity in cancer patients undergoing cisplatin-based chemotherapy, with its primary product being PEDMARK, which aims to reduce the risk of platinum-induced ototoxicity [4] - PEDMARK received FDA approval in September 2022, followed by European Commission approval in June 2023 and U.K. approval in October 2023 under the brand name PEDMARQSI [4] - In March 2024, Fennec entered into an exclusive licensing agreement with Norgine Pharmaceuticals for the commercialization of PEDMARQSI in Europe, the U.K., Australia, and New Zealand, with the product already available in the U.K. and Germany [5]