GlobeNewswire Inc | Sep 9, 2020 08:00AM EDT

September 09, 2020

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LOS ANGELES, Sept. 09, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Fennec Pharmaceuticals Inc. ("Fennec" or "the Company") (NASDAQ: FENC) investors that acquired securities betweenFebruary 11, 2020 and August 10, 2020.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

Before the market opened, on August 11, 2020, Fennec disclosed that it had received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) in regards to the Companys New Drug Application (NDA) for PEDMARK. According to the CRL, after recent completion of a pre-approval inspection of the manufacturing facility of [Fennecs] drug product manufacturer, the FDA 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 Companys share price fell $3.51, or 34%, on this news, to close at $6.66 per share on August 11, 2020, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially misleading and/or false statements, as well as failed to disclose facts about the Companys business, operations, and prospects that were materially adverse. Specifically, Defendants failed to disclose to investors: (1) that PEDMARKs manufacturing facilities, the Companys sole product candidate, was not in compliance with current good manufacturing practices; (2) that, as a result, PEDMARKs regulatory approval was reasonably likely to be delayed; and (3) that, Defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis, as a result of the foregoing.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firms founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.Admitted CA and NY Barlesley@portnoylaw.com310-692-8883www.portnoylaw.com

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