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Fennec Pharmaceuticals closes common stock offering

Fennec Pharmaceuticals Inc. closed an underwritten public offering, raising gross proceeds of about $21.2 million.

The specialty pharmaceutical company offered 2,352,950 common shares at $8.50 apiece.

The company also issued an additional 135,670 common shares to underwriters, as part of the partial exercise of the overallotment option.

Wedbush PacGrow acted as sole book-running manager for the offering, with H.C. Wainwright & Co. as co-manager.