Fennec Pharmaceuticals (TSE:FRX) Shares Pass Above 50 Day Moving Average - Here's What Happened

Key Points

• Fennec Pharmaceuticals' share price exceeded its fifty-day moving average, reaching C$13.29 during trading, which is above the average of C$12.14.
• The company has a market capitalization of C$369.89 million and a debt-to-equity ratio of -620.83, indicating a potentially strong financial position.
• Fennec Pharmaceuticals is focused on developing Sodium Thiosulfate as a chemo-protectant to prevent hearing loss in children undergoing platinum-based chemotherapy.

Fennec Pharmaceuticals Inc. (TSE:FRX - )'s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$12.14 and traded as high as C$13.29. Fennec Pharmaceuticals shares last traded at C$13.29, with a volume of 684 shares trading hands.

Fennec Pharmaceuticals Trading Up 1.1%

The company has a 50 day moving average price of C$12.14 and a 200 day moving average price of C$10.69. The firm has a market cap of C$369.89 million, a price-to-earnings ratio of -29.53 and a beta of 2.48. The company has a debt-to-equity ratio of -620.83, a quick ratio of 10.17 and a current ratio of 7.80.

Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc is a clinical-stage biotechnology company. It is primarily engaged in research and development activities. The company is developing Sodium Thiosulfate (STS), a chemo-protectant against hearing loss associated with platinum-based chemotherapy. Its lead product candidate is PEDMARK which is sodium thiosulfate in a novel formulation for the prevention of cisplatin induced hearing loss, or ototoxicity in children.

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