Fennec Pharmaceuticals Inc 2024年度报告

FENNEC PHARMACEUTICALSINC. Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act. YES◻NO⌧ Indicate by check mark whether the registrant:(1)has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during thepreceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past90days.YES⌧NO◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T(§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit such files).YES⌧NO◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule12b-2 of theExchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.◻ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.◻ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). YES☐NO⌧ The aggregate market value of the voting stock held by non-affiliates of the registrant, computed by reference to the closing sales price of the registrant’s CommonShares as reported on the Nasdaq Capital Market on June30, 2024 (the last business day of the registrant’s most recently completed second fiscal quarter) was$82,178,541based upon a total of 13,449,843 shares held as of June30, 2024 by persons believed to be non-affiliates of the registrant (for purposes of this calculation,all of the registrant’s officers, directors and 10% owners known to the registrant are deemed to be affiliates of the registrant). As of March 24, 2025, there were27,594,008shares of the registrant’s Common Shares outstanding. FENNEC PHARMACEUTICALSINC.2024 FORM10-K ANNUAL REPORTTABLE OF CONTENTS PART I Item 1.Business25Item 1A.Risk Factors66Item 1B.Unresolved Staff Comments66Item 1C.Cybersecurity67Item 2.Properties68Item 3.Legal Proceedings68Item 4.Mine Safety Disclosures69 PART II76 Item 5.Market for the Registrant’s Common Equity, Related Stockholder Matters andIssuer’s Purchases of Equity Securities 76Item 6.Reserved76Item 7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations84Item 7A.Quantitative and Qualitative Disclosures About Market Risk84Item 8.Financial Statements and Supplementary Data85Item 9.Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure85Item 9A.Controls and Procedures85Item 9B.Other Information86Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections86 Item 10.Directors, Executive Officers and Corporate Governance86Item 11.Executive Compensation86Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters87Item 13.Certain Relationships and Related Transactions and Director independence87Item 14.Principal Accounting Fees and Services87 PART IV88 Item 15.Exhibits and Financial Statement Schedules88Item 16.Form 10-K Summary90 SIGNATURES91 PARTI You are urged to read this Annual Report on Form 10-K (“Annual Report”) in its entirety. “We,”“our,”“ours,”“us,”“Fennec,”or the“Company,”when used herein,refers to FennecPharmaceuticals Inc., a British Columbia corporation, and its wholly-owned subsidiary, FennecPharmaceuticals, Inc., a Delaware corporation. Forward-Looking Statements This Annual Report contains “forward-looking statements”, as that term is defined in the PrivateSecurities Litigation Reform Act of 1995. These include statements regarding our expectations,beliefs, plans or objectives for future operations and anticipated results of operations. For thispurpose, any statements contained herein that are not statements of historical fact may be deemed tobe forward-looking statements. Without limiting the foregoing, “believes”, “anticipates”, “proposes”,“plans”, “expects”, “intends”