Mr. Robert Andrade reports

FENNEC PHARMACEUTICALS ANNOUNCES EARLY PARTIAL REPAYMENT OF ITS OUTSTANDING CONVERTIBLE DEBT FACILITY WITH PETRICHOR HEALTHCARE CAPITAL MANAGEMENT

Fennec Pharmaceuticals Inc. has repaid $13-million of the company's approximately $32-million outstanding convertible debt facility with Petrichor Healthcare Capital Management. Pro forma for today's repayment, the convertible debt facility with Petrichor will be approximately $19-million and maintain a maturity of September, 2027. This early partial repayment was financed entirely with available cash.

"We are pleased to announce the early partial repayment of a significant portion of our debt to Petrichor in a financial and strategic action that optimizes the company's balance sheet and overall capital structure, while effectively saving approximately $1.5-million in future annual interest payments and eliminating potential dilutive shares," said Jeff Hackman, chief executive officer of Fennec Pharmaceuticals. "This financial milestone underscores the confidence we continue to have in our business and reflects our commitment to maintaining a strong and sustainable operating model that enables us to accelerate our commercialization plans for Pedmark. We thank Petrichor for their continued support of Fennec and believe that we are well positioned for near-term and sustainable growth."

As previously reported in Fennec's third quarter 2024 earnings and inclusive of this press release, the company anticipates that its cash, cash equivalents and investment securities will be sufficient to finance planned operations into 2026.

Further information will be set forth in the current report on Form 8-K to be filed by the company with the United States Securities and Exchange Commission on or about Dec. 20, 2024.

About Fennec Pharmaceuticals Inc.

Fennec Pharmaceuticals is a specialty pharmaceutical company focused on the development and commercialization of Pedmark to reduce the risk of platinum-induced ototoxicity in pediatric patients. Further, Pedmark received United States Food and Drug Administration approval in September, 2022, and European Commission approval in June, 2023, and United Kingdom approval in October, 2023, under the brand name Pedmarqsi. Pedmark has received orphan drug exclusivity in the United States, and Pedmarqsi has received pediatric-use marketing authorization in Europe, which includes eight years plus two years of data and market protection.

We seek Safe Harbor.