Fennec rises on orphan drug exclusivity for hearing loss therapy

Fennec Pharmaceuticals

31/01/2023 11:41

** Shares of drug developer Fennec Pharmaceuticals Inc
 FENC.O  gain 11.5% to $10.50 premarket
    ** FDA grants orphan drug exclusivity to company's hearing
loss therapy, Pedmark
    ** Under FDA provisions, Pedmark will enjoy 7-year market
exclusivity - from its approval on Sept. 20, 2022 until Sept.
20, 2029
    ** Company also has patents for pharmaceutical formulation
and method-of-use of Pedmark until about 2039
    ** Pedmark, a sodium thiosulfate-based injection to help
reduce chemotherapy-induced hearing loss in children, recently
got included in clinical practice guidelines from the National
Comprehensive Cancer Network
    ** Fennec stock has doubled in last 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com))