Fennec Pharmaceuticals Inc. (NASDAQ:FENC) Q4 2023 Results Conference Call March 21, 2024 8:30 AM ET

Company Participants

Robert Andrade - Chief Financial Officer
Rosty Raykov - Chief Executive Officer
Adrian Haigh - Chief Operating Officer

Conference Call Participants

Naureen Quibria - Capital One Securities
Chase Knickerbocker - Craig-Hallum
Dipesh Patel - H.C. Wainwright

Operator

Good morning, ladies and gentlemen. And welcome to the Fennec Pharmaceuticals' Fourth Quarter and Full Year 2023 Earnings and Corporate Update Conference Call. At this time, all participants are in a listen only mode. Later we will conduct a question-and-answer session and instructions on how to participate will be given at that time. As a reminder, today's conference is being recorded. Now I would like to turn the conference over to Fennec's Chief Financial Officer, Robert Andrade. You may begin.

Robert Andrade

Thank you, operator. And good morning, everyone. We appreciate you joining us today for Fennec's Pharmaceuticals fourth quarter and full year 2023 earnings conference call, during which, we will review our financial results as well as provide a general business update. Joining me from Fennec this morning are Rosty Raykov, our Chief Executive Officer; and Adrian Haigh, our Chief Operating Officer. Before we begin, I would like to remind you that during this call, the company will be making forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ from the results discussed in the forward-looking statements. References to these risks and uncertainties are made in today's press release and disclosed in detail in the company's periodic and current event filings with the US Securities and Exchange Commission. In addition, any forward-looking statements made on this call represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligation to update or revise any forward-looking statements. This conference call is being recorded for audio rebroadcast on Fennec Web site, www.fennecpharma.com, where it will be available for the next 30 days. And now I will turn the call over to Rosty Raykov. Rosty?

Rosty Raykov

Thank you, Robert, and good morning, everyone. On today's call, we will detail our fourth quarter and full year 2023 financial results, all of which were outlined in our earnings press release issued this morning prior to this call. We'll also discuss ongoing commercial launch efforts and the progress that we're making with PEDMARK in the US and provide details on the exclusive licensing agreement we announced on Monday with Norgine, the commercialize PEDMARQSI in Europe, Australia and New Zealand. As you may recall, we announced preliminary unaudited fourth quarter and full year 2023 net revenues at the end of February and we're pleased to report that PEDMARK delivered fourth quarter revenues of approximately $9 million. This brings our full year 2023 net revenues to approximately $21 million. It was an exciting year for Fennec given the strong performance with PEDMARK in the full full fiscal year following its US commercial launch. We're pleased with our execution against strategic plans and our momentum in '23 which sets the stage for further success in '24 and beyond. We continue to be very encouraged with the progress we've made and we're even prouder of the work that is underway to sustain this momentum throughout '24 and beyond. Earlier this year, we announced the FDA issued a public communication that is aware that some providers may be preparing other sodium thiosulfate products for patients used in place of PEDMARK, including the ruling STS products approved for [other] users to match the strength of PEDMARK. The FDA reminded healthcare providers that are stated in PEDMARK's prescribing information, PEDMARK is not substitutable with other sodium thiosulfate products.