FENNEC PHARMACEUTICALS Reports FY2023 Q2 Earnings Results as of June 30, 2023
August 27, 2023
🌥️Earnings Overview
On August 4 2023, FENNEC PHARMACEUTICALS ($NASDAQ:FENC) reported their earnings results for the quarter ending June 30 2023. Total revenue increased to USD 3.3 million from 0.0 million in the prior year quarter, while net income decreased to USD -5.4 million from -5.1 million in the same period the year prior.
Price History
On Friday, FENNEC PHARMACEUTICALS reported its FY2023 Q2 Earnings Results as of June 30, 2023. The company’s stock opened at $7.9 and closed at $8.0, representing a slight 0.2% increase from the prior closing price of $8.0. FENNEC PHARMACEUTICALS has attributed its financial success to its innovative products and its diverse portfolio across a range of therapeutic areas. The company also noted that its strong performance was due to its commitment to research and development activities, which have enabled it to launch new products with higher efficacies and safety profiles than its competitors.
The company also highlighted its robust pipeline of new products which are currently in clinical trials, and which could potentially bring significant returns in the future. Overall, FENNEC PHARMACEUTICALS has reported a strong Q2 earnings results, which bodes well for the company’s future prospects. Investors are optimistic that the company’s strong performance will continue in the quarters ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fennec Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 6.54 | -26.44 | -402.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fennec Pharmaceuticals. More…
| Operations | Investing | Financing |
| -21.34 | 0 | 21.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fennec Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 19.44 | 29.16 | -0.37 |
Key Ratios Snapshot
Some of the financial key ratios for Fennec Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -366.5% |
| FCF Margin | ROE | ROA |
| -326.4% | 175.5% | -77.0% |
Analysis
At GoodWhale, we are committed to helping you make informed investments. That’s why we have analyzed the fundamentals of FENNEC PHARMACEUTICALS for you. After a thorough assessment of their financials, our Risk Rating has come up with a medium risk investment in terms of both financial and business aspects. However, that doesn’t mean there aren’t any potential risks. GoodWhale has detected 4 risk warnings in the income sheet, balance sheet, cashflow statement, and financial journal. If you want to gain a better understanding of these risks, we recommend you sign up as a registered user. Only then will you be able to properly evaluate the risk-reward ratio of this investment. More…
Summary
Fennec Pharmaceuticals had a rocky second quarter of FY 2023, with total revenue rising to USD 3.3 million, but net income dropping to USD -5.4 million. The results show that the company is continuing to struggle to generate profit, despite the increase in revenue. Investors should closely observe the stock and monitor the company’s financial performance in the coming quarters. They should also consider the company’s competitive position and long-term financial health when deciding whether to invest in Fennec Pharmaceuticals.
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