Fennec reports Q3 EPS (9c), consensus (20c)
Cash and cash equivalents were $15.2M as of September 30. "We are nearing completion of the NDA for PEDMARK and expect to complete the rolling submission to the FDA in early 2020," said the company. "With the addition of a chief commercial officer during the quarter, we are focused on building the necessary team and infrastructure to support a rapid commercial launch of PEDMARK, if approved, in the second half of 2020." The reduction in cash balance over the quarter is the result of cash used for operating activities including the manufacturing and regulatory expenses associated with the regulatory submissions of PEDMARK. The Company believes its cash and cash equivalents on hand as of September 30 will be sufficient to fund the Company's planned commercial launch of PEDMARKTM in the second half of 2020.