FENNEC PHARMACEUTICALS INC.
For the period ended Dec 31, 2025. Filed Mar 27, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 27, 2026
FENC$10.58-2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(U.S. dollars in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended | ||||||
| · · December 31, · · December 31, | ||||||
| · · 2025 · · 2024 | ||||||
| | | | | | | |
| Cash flows provided by (used in)/provided by: · · · · | ||||||
| Operating activities: · · · · | ||||||
| Net loss | | $(9,741) | | $(436) | ||
| Adjustments to reconcile net loss to net cash (used in)/provided by operating activities: | | | | | ||
| Inventory reserve | | | 773 | | | 517 |
| Allowance for credit losses | | | 2,103 | | | 3,803 |
| Amortization of contract asset | | | 103 | | | 800 |
| Amortization of debt access fees | | — | | 21 | ||
| Amortization of debt discount | | | 65 | | | 138 |
| Unrealized loss on securities | | | 2 | | | 81 |
| Equity-based compensation | | 7,033 | | 5,061 | ||
| Loss on debt extinguishment | | | 2,022 | | | — |
| PIK interest | | | — | | | 52 |
| Changes in operating assets and liabilities: | | | | | ||
| Accounts receivable | | | (12,440) | | | (7,873) |
| Prepaid expenses | | (658) | | (505) | ||
| Inventory | | | (1,278) | | | 579 |
| Other assets | | (1,267) | | 796 | ||
| Other non-current assets | | | (2,791) | | | — |
| Accounts payable | | 1,394 | | (537) | ||
| Accrued liabilities | | 2,207 | | (326) | ||
| Contract liability | | | — | | | 24,809 |
| Net cash (used in)/provided by operating activities | | (12,473) | | 26,980 | ||
| | | | | | ||
| Financing activities: | | | | | ||
| Issuance of shares, options exercise | | 2,190 | | 1,301 | ||
| Proceeds form the issuance of common stock, net of offering costs | | | 42,049 | | | — |
| Payment of long-term debt | | | (19,477) | | | (13,000) |
| Prepayment penalty on debt repayment | | | (1,948) | | | — |
| Cash paid for taxes on restricted share release | | | (187) | | | (176) |
| Deferred issuance costs | | — | | (1,740) | ||
| Net cash provided by/(used in) by financing activities | | 22,627 | | (13,615) | ||
| | | | | | | |
| Increase in cash and cash equivalents | | | 10,154 | | | 13,365 |
| Cash and cash equivalents - Beginning of year | | | 26,634 | | | 13,269 |
| Cash and cash equivalents - End of year | | $36,788 | | $26,634 | ||
| | | | | | | |
| Supplemental disclosures of cash flow information: | | | | | | |
| Cash paid for interest | | $4,160 | | $3,821 | ||
| Cash paid for taxes | | $748 | | $— | ||
| Non-cash investing and financing activities: | | | | | ||
| Right-of-use assets obtained in exchange for operating lease liabilities | | $— | | $2 | ||
| Financed insurance policy | | $393 | | $386 | ||
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