Silver Law Group is investigating Fennec Pharmaceuticals (FENC) on behalf of investors who have losses from purchasing the company’s stock. The investigation concerns possible violations of federal securities laws by the company.
If you have losses from investing in Fennec Pharmaceuticals Inc. (FENC) stock, contact Silver Law Group for a confidential no-cost consultation at (800) 975-4345 or by email at email@example.com.
Fennec Pharmaceuticals (FENC) Possible Securities Laws Violations
Fennec Pharmaceuticals (FENC), a biopharmaceuticals company that develops cancer treatments, is being investigated regarding whether they made false or misleading statements and/or failed to disclose material information to investors.
On August, 1, 2020, Fennec issued a press release, which stated that it had received a Complete Response Letter (CRL) from the Food and Drug Administration (FDA) for a product it is developing called PEDMARK, which has completed its Phase III clinical trial. PEDMARK, Fennec’s lead product, is a formulation of Sodium Thiosulfate that’s intended to prevent hearing loss in children who are undergoing chemotherapy treatment.
According to the press release, the CRL notified Fennec that the FDA’s inspection of the manufacturing facility “identified deficiencies resulting in a Form 483, which is a list of conditions or practices that are required to be resolved prior to the approval of PEDMARK.”
The day the press release came out, Fennec’s shares fell 34%, causing significant shareholder losses.
Fennec went public in May 2020. Cantor Fitzgerald & Co. was the sole book-running manager for the offering. Wedbush PacGrow is acting as the co-manager.
Do You Have Investment Losses With Fennec Pharmaceuticals?
A class has not yet been certified in this case and no class representative (lead plaintiff) has been selected.
If you have losses from owning Fennec stock, contact us today for a no-cost consultation at (800) 975-4345 firstname.lastname@example.org.
Silver Law Group is a nationally-recognized law firm that represents investors in cases of investment fraud in class action lawsuits against issuers and in securities arbitration claims against brokers and broker dealers. Scott Silver, Silver Law Group’s managing partner, is the chairman of the Securities and Financial Fraud Group of the American Association of Justice.