NasdaqCM:FENCBiotechs
Fennec Pharmaceuticals (FENC) Stock Jumps As Profitability Raises A Bigger Question
The market rushed to reprice Fennec Pharmaceuticals, sending the stock up about 17% to US$12.78, and the move lines up with a clear headline. Q2 landed as a clean profitability beat for a company long treated as a high risk biotech story. Net income reached about US$2.0 million on revenue of US$17.9 million, and management reported positive adjusted earnings before interest, tax, depreciation and amortization. For a stock that had already run hard over the past quarter, this result shifts the...