Q2 2026 Fennec Pharmaceuticals Inc Earnings Call

August 11, 2026

Operator: Good morning, ladies and gentlemen, and welcome to Fennec Pharmaceuticals' Q2 2026 earnings and corporate update conference call. At this time, all participants are in listen-only mode. Later, we will conduct a question and answer session, and instructions on how to participate will be given at that time. As a reminder, today's conference call is being recorded. Now I would like to turn the conference over to Fennec's Chief Financial Officer, Robert Andrade.

Speaker #1: Later, we will conduct a question-and-answer session. And instructions on how to participate will be given at that time. As a reminder, today's conference call is being recorded.

Speaker #1: Now, I'd like to turn the conference over to Fennec's Chief Financial Officer, Robert Andrade.

Speaker #2: Thank you, operator, and good morning, everyone. We would like to thank you for joining us. We are pleased to host Fennec Pharmaceuticals' second quarter 2026 earnings conference call today.

Robert Andrade: Thank you, operator, and good morning, everyone. We would like to thank you for joining us. We are pleased to host Fennec Pharmaceuticals' Q2 2026 earnings conference call today, during which we will review our financial results as well as provide a general business update. Joining me from Fennec this morning is our Chief Executive Officer and board member, Jeff Hackman, our Chief Commercial Officer, Terry Evans, and our Chief Medical Officer, Dr. Pierre Sayad. I am also pleased to welcome our Chief Strategy Officer, Christiana Cioffi, who is joining our earnings call for the first time. Christiana has more than two decades of leadership experience spanning commercial strategy, brand building, and organizational development, including nearly 15 years of expertise leading award-winning commercialization and launch strategies across the product life cycle.

Robert Andrade: Thank you, operator, and good morning, everyone. We would like to thank you for joining us. We are pleased to host Fennec Pharmaceuticals' Q2 2026 earnings conference call today, during which we will review our financial results as well as provide a general business update. Joining me from Fennec this morning is our Chief Executive Officer and board member, Jeff Hackman, our Chief Commercial Officer, Terry Evans, and our Chief Medical Officer, Dr. Pierre Sayad. I am also pleased to welcome our Chief Strategy Officer, Christi Cioffi, who is joining our earnings call for the first time. Christi has more than two decades of leadership experience spanning commercial strategy, brand building, and organizational development, including nearly 15 years of expertise leading award-winning commercialization and launch strategies across the product life cycle.

Speaker #2: During which we will review our financial results, as well as provide a general business update. Joining me from Fennec this morning is our Chief Executive Officer and Board Member, Jeff Hackman.

Speaker #2: Our Chief Commercial Officer, Terry Evans. And our Chief Medical Officer, Dr. Pierre Sayad. I am also pleased to welcome our Chief Strategy Officer, Christy Chaffee, who is joining our earnings call for the first time.

Speaker #2: Christy has more than two decades of leadership experience spanning commercial strategy, brand building, and organizational development. Including nearly 15 years of expertise leading award-winning commercialization and launch strategies across the product lifecycle.

Speaker #2: She has held senior commercial leadership roles at a number of leading biopharmaceutical companies, including Shields Therapeutics, Stemline Therapeutics, USA Pharma, CarioPharm Therapeutics, Therviae, previously Shire, Rexalta, Baxter, and Abbott Laboratories, where she helped build and grow oncology, rare disease, and hematology brands, from early development through commercialization.

Robert Andrade: She has held senior commercial leadership roles at a number of leading biopharmaceutical companies, including Shield Therapeutics, Stemline Therapeutics, EUSA Pharma, Karyopharm Therapeutics, Servier, previously Shire, Baxalta, Baxter, and Abbott Laboratories, where she helped build and grow oncology, rare disease, and hematology brands from early development through commercialization. As a graduate of West Point, Christiana also served our country as a decorated US Army veteran and Bronze Star recipient, leading soldiers during two deployments in Operation Iraqi Freedom. Later in the call, Christiana will speak to how recent cross-functional efforts are supporting our long-term growth plans. Additionally, Dr. Pierre Sayad will provide a medical affairs update, and Terry Evans will speak to our commercial progress.

Robert Andrade: She has held senior commercial leadership roles at a number of leading biopharmaceutical companies, including Shield Therapeutics, Stemline Therapeutics, EUSA Pharma, Karyopharm Therapeutics, Servier, previously Shire, Baxalta, Baxter, and Abbott Laboratories, where she helped build and grow oncology, rare disease, and hematology brands from early development through commercialization. As a graduate of West Point, Christi also served our country as a decorated US Army veteran and Bronze Star recipient, leading soldiers during two deployments in Operation Iraqi Freedom. Later in the call, Christi will speak to how recent cross-functional efforts are supporting our long-term growth plans. Additionally, Dr. Pierre Sayad will provide a medical affairs update, and Terry Evans will speak to our commercial progress.

Speaker #2: As a graduate of West Point, Christy also served our country as a decorated U.S. Army veteran and Bronze Star recipient, leading soldiers during two deployments and Operation Iraqi Freedom.

Speaker #2: Later in the call, Christy will speak to how recent cross-functional efforts are supporting our long-term growth plans. Additionally, Dr. Pierre Sayad will provide a medical affairs update and Terry Evans will speak to our commercial progress.

Speaker #2: Before we begin, I would like to remind you that during this call, the company will be making forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ from the results discussed in the forward-looking statements.

Robert Andrade: Before we begin, I would like to remind you that during this call, the company will be making forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ from the results discussed in the forward-looking statements. Reference to these risks and uncertainties are made in today's press release and disclosed in detail in the company's periodic and current event filings with the United States Securities and Exchange Commission. In addition, any forward-looking statements made on this call represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligation to update or revise any forward-looking statements. This conference call is being recorded for audio rebroadcast on Fennec's website, www.fennecpharma.com, where it will be available for the next 30 days. I will now turn the call over to Jeff Hackman.

Speaker #2: Reference to these risks and uncertainties are made in today's press release and disclosed in detail in the company's periodic and current event filings with the United States Securities and Exchange Commission.

Speaker #2: In addition, any forward-looking statements made on this call represent our views only as of today, and should not be relied upon as representing our views as of any subsequent date.

Speaker #2: We specifically disclaim any obligation to update or revise any forward-looking statements. This conference call is being recorded for audio rebroadcast on Fennec's website, www.fennecpharma.com, where it will be available for the next 30 days.

Speaker #2: I will now turn the call over to Jeff Hackman.

Speaker #3: Thank you, Robert. And good morning, everyone. Thank you all for joining us here today. So before we dive into the quarter, I'd like to take a moment to reflect on how far we've come as an organization.

Jeff Hackman: Thank you, Robert, and good morning, everyone. Thank you all for joining us here today. Before we dive into the quarter, I'd like to take a moment to reflect on how far we've come as an organization. Two years ago, I joined Fennec with clear objectives: build the team, sharpen our execution, and position the company for sustainable long-term growth. Over that time, we've built a talented and experienced leadership team, deep expertise across commercial, medical affairs, clinical development, and corporate strategy. Today, you'll have the opportunity to hear from each of them about the progress that they're making in their business. We also expanded our customer-facing team, as you know, to reach a larger prescriber target base with a greater frequency, increasing the numbers from 1,300 to roughly 5,000 targets.

Speaker #3: Two years ago, I joined Fennec with clear objectives: build the team, sharpen our execution, and position the company for sustainable, long-term growth. Over that time, we've built a talented and experienced leadership team, with deep expertise across commercial, medical affairs, clinical development, and corporate strategy.

Speaker #3: Today, you'll have the opportunity to hear from each of them about the progress that they're making in their business. We also expanded our customer-facing team, as you know, to reach a larger prescriber target base, increasing numbers from 1,300 to roughly 5,000 targets.

Speaker #3: Together, we've built an organization that is focused, accountable, and aligned around delivering for our patients, our healthcare providers, and our shareholders. I'm proud of what we accomplished.

Jeff Hackman: Together, we've built an organization that is focused, accountable, and aligned around delivering for our patients, our healthcare providers, and our shareholders. I'm proud of what we accomplished. Since I joined the company, we've increased revenue by 143%, driven by a unified strategy, consistent execution, and a disciplined focus on the fundamentals of our business. Perhaps most importantly, we've demonstrated that this isn't the result of any single initiative or quarter. It's been built through steady execution, expanding our commercial reach, strengthening our clinical evidence base, investing in targeted talent across this organization, and maintaining a strong financial foundation. Today's results, including our seventh consecutive quarter of growth, reflect momentum we've created and the commitment of our entire organization.

Speaker #3: Since I joined the company, we've increased revenue by $143%. Driven by a unified strategy, consistent execution, and a disciplined focus on the fundamentals of our business.

Speaker #3: Perhaps most importantly, we've demonstrated that this isn't the result of any single initiative or quarter. It's been built through steady execution, expanding our commercial reach, strengthening our clinical evidence base, investing in targeted talent across this organization, and maintaining a strong financial foundation.

Speaker #3: Today's results, including our seventh consecutive quarter of growth, reflect the momentum we've created and the commitment of our entire organization. I'd like to thank everyone here and take this opportunity to thank all Fennec employees for their exceptional work to help ensure that these patients facing cancer treatment can continue to hear the moments that make life most meaningful.

Jeff Hackman: I'd like to thank everyone here and take this opportunity to thank all Fennec employees for their exceptional work to help ensure that these patients facing cancer treatment can continue to hear the moments that make life most meaningful. While we're proud of our progress, we also believe we're still in the early stages of our opportunity. As you'll hear today, we're continuing to invest in the drivers that we believe will support long-term growth, from generating additional clinical evidence and expanding physician engagement to building awareness and ensuring that we have resources to execute on our strategies. One of those drivers in Q2 was breaking new ground in a disease awareness campaign, bringing the conversation around testicular cancer to the Indianapolis 500 and introducing Fennec and our mission to millions of fans and forging meaningful connections across the oncology community.

Speaker #3: While we're proud of our progress, we also believe we're still in the early stages of our opportunity. As you'll hear today, we're continuing to invest in the drivers that we believe will support long-term growth.

Speaker #3: From generating additional clinical evidence and expanding physician engagement to building awareness and ensuring that we have the resources to execute on our strategies, one of those drivers in Q2 was breaking new ground in a disease awareness campaign—bringing the conversation around testicular cancer to the Indianapolis 500, introducing Fennec and our mission to millions of fans, and forging meaningful connections across the oncology community.

Speaker #3: Christy will go much deeper into detail and the impact of this campaign shortly. As a reminder, PEDMARC is currently approved for pediatric patients one month of age and older, with localized non-metastatic solid tumors and is also recognized by the National Comprehensive Cancer Network, with a 2A recommendations for use in AYA patients.

Jeff Hackman: Christiana will go much deeper into detail on the impact of this campaign shortly. As a reminder, PEDMARK is currently approved for pediatric patients 1 month of age and older with localized non-metastatic solid tumors and is also recognized by the National Comprehensive Cancer Network with a 2A recommendations for use in AYA patients. As we look ahead, we believe the investments we've made across our commercial organization, the clinical evidence generation efforts, and the financial foundation is translating into meaningful momentum. Encouraged by what we've seen so far in Q3, we are confident in our ability to continue to build on this progress and deliver sustainable growth. With that, I'll turn it over to Christiana for a more detailed update on our disease awareness efforts and our presence at ASCO.

Jeff Hackman: Christiana will go much deeper into detail on the impact of this campaign shortly. As a reminder, PEDMARK is currently approved for pediatric patients 1 month of age and older with localized non-metastatic solid tumors and is also recognized by the National Comprehensive Cancer Network with a 2A recommendations for use in AYA patients. As we look ahead, we believe the investments we've made across our commercial organization, the clinical evidence generation efforts, and the financial foundation is translating into meaningful momentum. Encouraged by what we've seen so far in Q3, we are confident in our ability to continue to build on this progress and deliver sustainable growth. With that, I'll turn it over to Christi for a more detailed update on our disease awareness efforts and our presence at ASCO.

Speaker #3: As we look ahead, we believe the investments we've made across our commercial organization—the clinical evidence generation efforts, and the financial foundation—is translating into meaningful momentum.

Speaker #3: Encouraged by what we've seen so far in the third quarter, we are confident in our ability to continue to build on this progress and deliver sustainable growth.

Speaker #3: So with that, I'll turn it over to Christy for a more detailed update on our disease awareness efforts and our presence at ASCO.

Speaker #1: Thank you, Jeff. As Jeff just mentioned, over the past two years, we've been very intentional about evolving not only how we position PEDMARC, but also how we engage the oncology community.

Christiana Cioffi: Thank you, Jeff. As Jeff just mentioned, over the past 2 years, we've been very intentional about evolving not only how we position PEDMARK, but also how we engage the oncology community. In 2025, we reinvented our commercial approach with a bold, differentiated branded campaign called Survival Should Be Loud. This campaign challenges convention, resonates strongly with oncologists, and has helped to establish a leadership position for both PEDMARK and Fennec. Building on that momentum, 2026 represents the natural next phase of that evolution. In May, we launched a disruptive disease awareness initiative to wake up a broader audience to the issue of cisplatin-induced hearing loss, or CIO. As we've shared in the past, cisplatin is the cornerstone of testicular cancer treatment, transforming the disease from a frequently fatal diagnosis to one with a cure rate exceeding 95%.

Christi Cioffi: Thank you, Jeff. As Jeff just mentioned, over the past 2 years, we've been very intentional about evolving not only how we position PEDMARK, but also how we engage the oncology community. In 2025, we reinvented our commercial approach with a bold, differentiated branded campaign called Survival Should Be Loud. This campaign challenges convention, resonates strongly with oncologists, and has helped to establish a leadership position for both PEDMARK and Fennec. Building on that momentum, 2026 represents the natural next phase of that evolution. In May, we launched a disruptive disease awareness initiative to wake up a broader audience to the issue of cisplatin-induced hearing loss, or CIO. As we've shared in the past, cisplatin is the cornerstone of testicular cancer treatment, transforming the disease from a frequently fatal diagnosis to one with a cure rate exceeding 95%.

Speaker #1: In 2025, we reinvented our commercial approach with a bold, differentiated branded campaign called "Survival Should Be Loud." This campaign challenges convention, resonates strongly with oncologists, and has helped to establish a leadership position for both PEDMARC and Fennec.

Speaker #1: Building on that momentum, 2026 represents the natural next phase of that evolution. In May, we launched a disruptive disease awareness initiative to wake up a broader audience to the issue of cisplatin-induced hearing loss.

Speaker #1: Or CIO. As we've shared in the past, cisplatin is the cornerstone of testicular cancer treatment, transforming the disease from a frequently fatal diagnosis to one with a cure rate exceeding 95%.

Speaker #1: In support of this community, we created an innovative campaign targeting testicular cancer awareness called "Indy's Nuts." This campaign, with multiple strategic collaborations, launched at the Indianapolis 500, one of the world's largest sporting events.

Christiana Cioffi: In support of this community, we created an innovative campaign targeting testicular cancer awareness called Indy's Nuts. This campaign, with multiple strategic collaborations, launched at the Indianapolis 500, one of the world's largest sporting events. Through sponsorships with race car driver Jack Harvey and NFL linebacker Alex Singleton, the campaign was intentionally designed to stop people in their tracks. This bold, unexpected creative concept included distribution of over 100,000 bags of peanuts. We sought to capture attention, spark curiosity, and encourage audiences to learn more. Our 2 important objectives: first, to encourage men to perform regular testicular self-exams and promote earlier diagnosis of testicular cancer. Second, to educate patients diagnosed with testicular cancer about the importance of discussing CIO and hearing prevention with their care teams before treatment begins.

Christi Cioffi: In support of this community, we created an innovative campaign targeting testicular cancer awareness called Indy's Nuts. This campaign, with multiple strategic collaborations, launched at the Indianapolis 500, one of the world's largest sporting events. Through sponsorships with race car driver Jack Harvey and NFL linebacker Alex Singleton, the campaign was intentionally designed to stop people in their tracks. This bold, unexpected creative concept included distribution of over 100,000 bags of peanuts. We sought to capture attention, spark curiosity, and encourage audiences to learn more. Our 2 important objectives: first, to encourage men to perform regular testicular self-exams and promote earlier diagnosis of testicular cancer. Second, to educate patients diagnosed with testicular cancer about the importance of discussing CIO and hearing prevention with their care teams before treatment begins.

Speaker #1: Through sponsorships with race car driver Jack Harvey and NFL linebacker Alex Singleton, the campaign was intentionally designed to stop people in their tracks. This bold, unexpected creative concept included distribution of over 100,000 bags of peanuts.

Speaker #1: We sought to capture attention, spark curiosity, and encourage audiences to learn more. Our two important objectives: first, to encourage men to perform regular testicular self-exams and promote earlier diagnosis of testicular cancer.

Speaker #1: And second, to educate patients diagnosed with testicular cancer about the importance of discussing CIO and hearing prevention with their care teams before treatment begins.

Speaker #1: Additionally, we sponsored an educational event with leading KOLs from a renowned institution in the region to deepen understanding of CIO prevention and the role of PEDMARK.

Christiana Cioffi: Additionally, we sponsored an educational event with leading KOLs from a renowned institution in the region to deepen understanding of CIO prevention and the role of PEDMARK. Importantly, the initiative demonstrates our ability to reach and engage audiences well beyond traditional healthcare settings, further expanding awareness of both the disease and the unmet needs surrounding CIO. We are extremely pleased by our campaign performance metrics that exceeded industry norms in several categories. The momentum did not stop at the Fennec Speedway. We carried that same energy and awareness into the ASCO annual meeting, where the racing theme became a natural conversation starter at our booth. Through the draw of racing simulators and interactive experiences, we engaged with oncologists, advanced practitioners, nurses, patient advocates, and industry leaders in meaningful discussions about hearing preservation and the role of PEDMARK in addressing the unmet need of CIO.

Christi Cioffi: Additionally, we sponsored an educational event with leading KOLs from a renowned institution in the region to deepen understanding of CIO prevention and the role of PEDMARK. Importantly, the initiative demonstrates our ability to reach and engage audiences well beyond traditional healthcare settings, further expanding awareness of both the disease and the unmet needs surrounding CIO. We are extremely pleased by our campaign performance metrics that exceeded industry norms in several categories. The momentum did not stop at the Fennec Speedway. We carried that same energy and awareness into the ASCO annual meeting, where the racing theme became a natural conversation starter at our booth. Through the draw of racing simulators and interactive experiences, we engaged with oncologists, advanced practitioners, nurses, patient advocates, and industry leaders in meaningful discussions about hearing preservation and the role of PEDMARK in addressing the unmet need of CIO.

Speaker #1: Importantly, the initiative demonstrates our ability to reach and engage audiences well beyond traditional healthcare settings, further expanding awareness of both the disease and the unmet needs surrounding CIO.

Speaker #1: We are extremely pleased by our campaign performance metrics that exceeded industry norms in several categories. The momentum did not stop at the speedway—we carried that same energy and awareness into the ASCO annual meeting, where the racing theme became a natural conversation starter at our booth.

Speaker #1: Through the draw of "Racing Simulators," and "Interactive Experiences," we engaged with oncologists, advanced practitioners, nurses, patient advocates, and industry leaders in meaningful discussions about hearing preservation and the role of PEDMARC in addressing the unmet need of CIO.

Speaker #1: Throughout the meeting, the Fennec speedway generated exceptional engagement and quickly became one of the most talked-about exhibits on the show floor. It was even featured as part of Fierce Pharma ASCO's wrap-up article.

Christiana Cioffi: Throughout the meeting, the Fennec Speedway generated exceptional engagement and quickly became one of the most talked-about exhibits on the show floor. It was even featured as a part of FiercePharma ASCO's wrap-up article. Our cross-functional team generated hundreds of HCP leads and received overwhelmingly positive feedback from attendees who appreciated both the interactive education and the important clinical conversation the booth enabled. Pierre will speak more about ASCO shortly. For us, that was the ultimate validation. ASCO wasn't simply memorable. It created an effective platform to educate healthcare professionals, amplify our mission, and reinforce Fennec's leadership in changing the standard of care for the prevention of CIO. With that, I will now turn the call over to Pierre for a medical update.

Christi Cioffi: Throughout the meeting, the Fennec Speedway generated exceptional engagement and quickly became one of the most talked-about exhibits on the show floor. It was even featured as a part of FiercePharma ASCO's wrap-up article. Our cross-functional team generated hundreds of HCP leads and received overwhelmingly positive feedback from attendees who appreciated both the interactive education and the important clinical conversation the booth enabled. Pierre will speak more about ASCO shortly. For us, that was the ultimate validation. ASCO wasn't simply memorable. It created an effective platform to educate healthcare professionals, amplify our mission, and reinforce Fennec's leadership in changing the standard of care for the prevention of CIO. With that, I will now turn the call over to Pierre for a medical update.

Speaker #1: Our cross-functional team generated hundreds of HCP leads and received overwhelmingly positive feedback from attendees, who appreciated both the interactive education and the important clinical conversation the booth enabled.

Speaker #1: Pierre will speak more about ASCO shortly. For us, that was the ultimate validation. ASCO wasn't simply memorable—it created an effective platform to educate healthcare professionals, amplify our mission, and reinforce Fennec's leadership in changing the standard of care for the prevention of CIO.

Speaker #1: With that, I will now turn the call over to Pierre for a medical update.

Speaker #2: Thank you, Christy. And good morning, everyone. The second quarter for Medical Affairs was one defined by expansion. We have a fully trained, fully deployed MSL team.

Pierre S. Sayad: Thank you, Christine. Good morning, everyone. The second quarter for medical affairs was one defined by expansion. We have a fully trained, fully deployed MSL team. This team engaged with a record number of new HCPs as well as affiliated sites and HCOs in Q2, adding significantly to an already growing target base. In fact, our total unique HCP reach increased 63%, and unique affiliated sites increased 72%. This team is successfully converting these scientific field engagements from HCP educational gaps to further clinical conviction as we collaborate across functions to change the standard of care with PEDMARK. During the quarter, we also advanced our evidence generation efforts with impactful presentations at ASCO and through an expanding portfolio of investigator-sponsored studies, or ISTs.

Pierre Sayad: Thank you, Christi. Good morning, everyone. The second quarter for medical affairs was one defined by expansion. We have a fully trained, fully deployed MSL team. This team engaged with a record number of new HCPs as well as affiliated sites and HCOs in Q2, adding significantly to an already growing target base. In fact, our total unique HCP reach increased 63%, and unique affiliated sites increased 72%. This team is successfully converting these scientific field engagements from HCP educational gaps to further clinical conviction as we collaborate across functions to change the standard of care with PEDMARK. During the quarter, we also advanced our evidence generation efforts with impactful presentations at ASCO and through an expanding portfolio of investigator-sponsored studies, or ISTs.

Speaker #2: This team engaged with a record number of new HCPs, as well as affiliated sites and HCOs in Q2. Adding significantly to an already growing target base.

Speaker #2: In fact, our total unique HCP 63% and unique affiliated sites increased 72%. This team is successfully converting the scientific field engagements from HCP educational gaps to further clinical conviction as we collaborate across functions to change the standard of care with PEDMARC.

Speaker #2: During the quarter, we also advanced our evidence generation efforts with impactful presentations at ASCO and through an expanding portfolio of investigator-sponsored studies, or ISTs.

Speaker #2: In April, we announced a third IST with a University of Arizona Cancer Center to evaluate the use of PEDMARC in AYA and adult patients with head and neck and testicular cancers receiving cisplatin.

Pierre S. Sayad: In April, we announced a third IST with the University of Arizona Cancer Center to evaluate the use of PEDMARK in AYA and adult patients with head and neck and testicular cancers receiving cisplatin. This news follows the initiation of two other institutional-led clinical studies with Tampa General Hospital Cancer Institute and the City of Hope. These studies are actively accruing patients. We are also engaged in discussions to grow this pipeline of ISTs, which will further expand our understanding of PEDMARK's potential. Importantly, these conversations are across multiple tumor types and across various patient populations. One of the most encouraging takeaways from our presence at ASCO in June was the evolution of the conversation. Discussions are now moving beyond general awareness of cisplatin-induced hearing loss to implementation, with healthcare providers asking practical questions about incorporating PEDMARK into standard treatment workflows.

Pierre Sayad: In April, we announced a third IST with the University of Arizona Cancer Center to evaluate the use of PEDMARK in AYA and adult patients with head and neck and testicular cancers receiving cisplatin. This news follows the initiation of two other institutional-led clinical studies with Tampa General Hospital Cancer Institute and the City of Hope. These studies are actively accruing patients. We are also engaged in discussions to grow this pipeline of ISTs, which will further expand our understanding of PEDMARK's potential. Importantly, these conversations are across multiple tumor types and across various patient populations. One of the most encouraging takeaways from our presence at ASCO in June was the evolution of the conversation. Discussions are now moving beyond general awareness of cisplatin-induced hearing loss to implementation, with healthcare providers asking practical questions about incorporating PEDMARK into standard treatment workflows.

Speaker #2: This news follows the initiation of two other institutional-led clinical studies with Tampa General Hospital Cancer Institute and the City of Hope. These studies are actively accruing patients.

Speaker #2: We are also engaged in discussions to grow this pipeline of ISTs, which will further expand our understanding of PEDMARC's potential. Importantly, these conversations are across multiple tumor types and various patient populations.

Speaker #2: One of the most encouraging takeaways from our presence at ASCO in June was the evolution of the conversation. Discussions are now moving beyond general awareness of cisplatin-induced hearing loss to implementation with healthcare providers asking practical questions about incorporating PEDMARC into standard treatment workflows.

Speaker #2: We believe this reflects increasing clinical confidence and growing momentum toward broader adoption. In Q2, we nearly tripled our medical congress footprint at both national and regional conferences.

Pierre S. Sayad: We believe this reflects increasing clinical confidence and growing momentum towards broader adoption. In Q2, we nearly tripled our medical congress footprint at both national and regional conferences. At these meetings, gynecologic cancers were of particular interest and generated significant discussions and insights surrounding the market opportunity in this area. We heard from multiple leading academic gyn oncs that there is limited PEDMARQSI awareness despite recognizing CIO, reinforcing our medical affairs strategy to expand structured education into gynecology alongside head and neck and testicular cancers. These specific tumor areas account for nearly half of our medical target base. Our field medical team plays a critical role in the education of physicians. The depth of our team's scientific knowledge and respected standing within the academic community are a true competitive advantage. Our evidence generation strategy continues to gain momentum beyond ASCO.

Pierre Sayad: We believe this reflects increasing clinical confidence and growing momentum towards broader adoption. In Q2, we nearly tripled our medical congress footprint at both national and regional conferences. At these meetings, gynecologic cancers were of particular interest and generated significant discussions and insights surrounding the market opportunity in this area. We heard from multiple leading academic gyn oncs that there is limited PEDMARQSI awareness despite recognizing CIO, reinforcing our medical affairs strategy to expand structured education into gynecology alongside head and neck and testicular cancers. These specific tumor areas account for nearly half of our medical target base. Our field medical team plays a critical role in the education of physicians. The depth of our team's scientific knowledge and respected standing within the academic community are a true competitive advantage. Our evidence generation strategy continues to gain momentum beyond ASCO.

Speaker #2: At these meetings, gynecologic cancers were particular interest, and generated significant discussions and insights surrounding the market opportunity in this area. We heard from multiple leading academic gynecologists that there is limited PEDMARC awareness despite recognizing CIO.

Speaker #2: Reinforcing our medical affairs strategy to expand structured education into gynecology, alongside head and neck and testicular cancers. These specific tumor areas account for nearly half of our medical target base.

Speaker #2: Our field medical team plays a critical role in the education of physicians. The depth of our team's scientific knowledge and respected standing within the academic community are a true competitive advantage.

Speaker #2: Our evidence generation strategy continues to gain momentum beyond ASCO. We are pleased to share that the investigator-initiated Phase Q3 STS-J01 clinical trial evaluating PEDMARC for the reduction of CIO in pediatric and AYA patients with non-metastatic solid tumors in Japan has been selected for an oral presentation at the SIOP 2026 annual meeting in September.

Pierre S. Sayad: We are pleased to share that the investigator-initiated Phase II/III STS-J01 clinical trial evaluating PEDMARK for the reduction of CIO in pediatric and AYA patients with non-metastatic solid tumors in Japan has been selected for an oral presentation at the SIOP 2026 annual meeting in September. These data will mark the first public presentation of human pharmacokinetic data, representing an important milestone in deepening our understanding of the clinical profile and potential of PEDMARK to change the standard of care. Oral presentations are reserved for research considered to be of particular scientific interest, and we believe this recognition reflects the growing clinical focus on preventing hearing loss in children receiving cisplatin-based chemotherapy. We look forward to sharing more details on the full results in September.

Pierre Sayad: We are pleased to share that the investigator-initiated Phase II/III STS-J01 clinical trial evaluating PEDMARK for the reduction of CIO in pediatric and AYA patients with non-metastatic solid tumors in Japan has been selected for an oral presentation at the SIOP 2026 annual meeting in September. These data will mark the first public presentation of human pharmacokinetic data, representing an important milestone in deepening our understanding of the clinical profile and potential of PEDMARK to change the standard of care.

Speaker #2: These data will mark the first public presentation of human pharmacokinetic data, representing an important milestone in deepening our understanding of the clinical profile and potential of PEDMARC to change the standard of care.

Speaker #2: Oral presentations are reserved for research considered to be of particular scientific interest, and we believe this recognition reflects the growing clinical focus on preventing hearing loss in children receiving cisplatin-based chemotherapy.

Pierre Sayad: Oral presentations are reserved for research considered to be of particular scientific interest, and we believe this recognition reflects the growing clinical focus on preventing hearing loss in children receiving cisplatin-based chemotherapy. We look forward to sharing more details on the full results in September. Together with the data shared at ASCO earlier this year, these presentations continue to expand the scientific dialogue around hearing loss prevention and reinforce our commitment to supporting the generation of high-quality evidence. With that, I will now turn the call over to Terry for a commercial update.

Speaker #2: We look forward to sharing more details on the full results in September. Together with the data shared at ASCO earlier this year, these presentations continue to expand the scientific dialogue around hearing loss prevention and reinforce our commitment to supporting the generation of high-quality evidence.

Pierre S. Sayad: Together with the data shared at ASCO earlier this year, these presentations continue to expand the scientific dialogue around hearing loss prevention and reinforce our commitment to supporting the generation of high-quality evidence. With that, I will now turn the call over to Terry for a commercial update.

Speaker #2: And with that, I will now turn the call over to Terry for a commercial update.

Speaker #3: Thank you, Pierre. And good morning, everyone. Our newly expanded Salesforce is driving a positive impact in the first quarter. Commercial demand continued to grow in Q2, which is attributed to our disciplined execution and greater reach and frequency with prescribers, underscoring that we have a repeatable and scalable platform for growth.

Terry Evans: Thank you, Pierre, and good morning, everyone. Our newly expanded sales force is driving a positive impact in Q1. Commercial demand continued to grow in Q2, which is attributed to our disciplined execution and greater reach and frequency with prescribers underscoring we have a repeatable and scalable platform for growth. For example, in Q2, we saw a 280% increase in the number of sales calls made by our field sales team. Demand in Q2 grew double digits over Q1, driven primarily through our patient services hub called Fennec HEARS. In fact, Fennec HEARS saw a significant increase in patient enrollments that led to an all-time high number of infusions for the quarter. Q2 also delivered record AYA enrollment, supported by the NCCN 2A recommendation. Additionally, more than half of our business came from the home infusion center.

Speaker #3: For example, in the second quarter, we saw a 280% increase in the number of sales calls made by our field sales team. Demand in Q2 grew double digits over Q1.

Speaker #3: Driven primarily through our patient services hub, called Fennec HEARS. In fact, Fennec HEARS saw a significant increase in patient enrollments that led to an all-time high number of infusions for the quarter.

Speaker #3: Q2 also delivered record AYA enrollment supported by the NCCN 2A recommendation. Additionally, more than half of our business came from the home infusion center.

Speaker #3: This flexible at-home scheduling option works for both patients and providers by making it easier to start therapy and to stay on therapy. Importantly, this record patient enrollment in Q2 has helped create real momentum, with unprecedented demand carried into the third quarter.

Terry Evans: This flexible at-home scheduling option works for both patients and providers by making it easier to start therapy and to stay on therapy. Importantly, this record patient enrollment in Q2 has helped create real momentum with unprecedented demand carried into Q3. In fact, in the month of July, we reported an all-time high of completed PEDMARK infusions, new patient enrollments, active patients on therapy, and new customers in a single month. As we have discussed previously, continued commercial growth depends on strong alignment and execution across our organization. We are encouraged by how our expanded sales force has partnered with our market access and medical affairs teams to deliver a coordinated customer experience as we work to change the standard of care with PEDMARK.

Speaker #3: In fact, in the month of July, we recorded an all-time high of completed PEDMARC infusions, new patient enrollments, active patients on therapy, and new customers in a single month.

Speaker #3: As we have discussed previously, continued commercial growth depends on strong alignment and execution across our organization. We are encouraged by how our expanded sales force has partnered with our market access and medical affairs teams to deliver a coordinated customer experience as we work to change the standard of care with PEDMARC.

Speaker #3: To give you an example of this teamwork in action, these groups recently collaborated to secure a major formulary addition with a nationally recognized community oncology network.

Terry Evans: To give you an example of this teamwork in action, these groups recently collaborated to secure a major formulary addition with a nationally recognized community oncology network. By combining strong sales and account management with compelling clinical education, we successfully added PEDMARK to their formulary, which expands access and creates new opportunities for patients. This achievement demonstrates the strength of our integrated commercial model and our team's ability to drive meaningful results. In summary, there are several positive trends that we're carrying into Q3, including overall vial demand, number of vials per patient, new patients entering the funnel, and infusions ordered and completed. We are optimistic that this commercial success will continue to reach record levels in the H2 2026. With that, I will turn the call over to Robert for a financial update.

Speaker #3: By combining strong sales and account management with compelling clinical education, we successfully added PEDMARC to their formulary, which expands access and creates new opportunities for patients.

Speaker #3: This achievement demonstrates the strength of our integrated commercial model and our team's ability to drive meaningful results. In summary, there are several positive trends that we're carrying into Q3, including overall vial demand, number of vials per patient, new patients entering the funnel, and infusions ordered and completed.

Speaker #3: We are optimistic that this commercial success will continue to reach record levels in the second half of 2026. With that, I will turn the call over to Robert for a financial update.

Speaker #2: Thank you, Terry. Our press release contains details of our financial results for the second quarter of 2026, which can be viewed on the Investors and Media section of our website.

Robert Andrade: Thank you, Terry. Our press release contains details of our financial results for the Q2 2026, which can be viewed on the Investors and Media section of our website. As customary, rather than read through all of those details, my comments today will focus on some key financial results. Of note, a table reconciling non-GAAP measures was included in today's press release for reference and will be in our Company 10-Q filed with the SEC. For the Q2 2026, the company recorded net product sales of $17.1 million compared to $9.7 million in the Q2 2025, representing an increase of approximately 78% year-over-year. We witnessed the highest amount of new patient enrollment in the Q2 and carry record demand for PEDMARK into the Q3.

Speaker #2: As customary, rather than read through all of those details, my comments today will focus on some key financial results. Of note, a table reconciling non-GAAP measures was included in today's press release for reference, and will be in our accompanying 10-Q filed with the SEC.

Speaker #2: For the second quarter of 2026, the company recorded net product sales of $17.1 million, compared to $9.7 million in the second quarter of 2025.

Speaker #2: Representing an increase of approximately 78% year over year. We witnessed the highest amount of new patient enrollment in the second quarter, and Carrie record demand for PEDMARC into the third quarter.

Speaker #2: On the opex side, which we define as R&D and SG&A, excluding stock-based compensation, it was approximately $13.6 million for the quarter. With a year-over-year increase of approximately 3.6 million.

Robert Andrade: On the OpEx side, which we define as R&D and SG&A, excluding stock-based compensation, it was approximately $13.6 million for the quarter, with a year-over-year increase of approximately $3.6 million. The majority of the increase was on the SG&A, with expanded marketing investments focused on awareness initiatives and increased commercial headcount supporting PEDMARK growth. Consistent with prior commentary for 2026, we expect approximately $50 million in total cash OpEx in 2026, with approximately $20 to $22 million or 40% of those expenses left to be recorded in the H2 2026. We are focused on EBITDA generation and cash flow as we grow the business and as such, are presenting record non-GAAP adjusted EBITDA in the Q2 of approximately $2.8 million, compared to a loss of $1.2 million in the comparable quarter a year ago. We have significant leverage in the business with a predominantly fixed cost base.

Speaker #2: The majority of the increase was on the SG&A, with expanded marketing investment focused on awareness initiatives and increased commercial headcount supporting PEDMARC growth. Consistent with prior commentary for 2026, we expect approximately $50 million in total cash opex 2026.

Speaker #2: With approximately $20 to $22 million, or 40%, of those expenses left to be recorded in the second half of 2026. We are focused on EBITDA generation and cash flow as we grow the business, and as such, are presenting record non-GAAP adjusted EBITDA in the second quarter of approximately $2.8 million.

Speaker #2: Compared to a loss of $1.2 million in the comparable quarter a year ago. We have significant leverage in the business, with a predominantly fixed cost base.

Speaker #2: And as our revenue growth continues, we anticipate operating income and non-GAAP adjusted EBITDA to grow meaningfully in the quarters to come. EPS in the second quarter of 2026 was $0.05 per share, compared to a loss of $0.11 per share in the comparable quarter.

Robert Andrade: As our revenue growth continues, we anticipate operating income and non-GAAP adjusted EBITDA to grow meaningfully in the quarters to come. EPS in the Q2 2026 was $0.05 per share, compared to a loss of $0.11 per share in the comparable quarter. Cash and cash equivalents were $41.2 million as of 30 June 2026. For the quarter, there was a $1 million increase in cash and cash equivalents, which was higher than we anticipated for the quarter. As we have stated previously, as we grow the business, we anticipate select quarterly swings in cash position based on collection cycles with customers, and as such, expect the Q3 ending cash to be lower than the Q2. However, we expect the Q4 cash generation and our year-ending cash to be positive.

Speaker #2: Cash and cash equivalents were $41.2 million as of June 30th, 2026. For the quarter, there was a $1 million increase in cash and cash equivalents, which was higher than we anticipated for the quarter.

Speaker #2: As we have stated previously, as we grow the business, we anticipate select quarterly swings in cash position based on collection cycles with customers. And as such, expect the third quarter ending cash to be lower than the second quarter.

Speaker #2: However, we expect the fourth quarter cash generation and our year-ending cash to be positive. Lastly, as we stated in our press release, we anticipate that our cash, cash equivalents, and investment securities as of June 30th, 2026, coupled with the projected revenues from PEDMARC, will be sufficient to fund our business based on our current operating plan.

Robert Andrade: However, we expect the Q4 cash generation and our year-ending cash to be positive. Lastly, as we stated in our press release, we anticipate that our cash equivalents and investment securities as of 30 June 2026, coupled with the projected revenues from PEDMARK, will be sufficient to fund our business based on our current operating plan. Operator, with that, we are now ready to open the call for questions.

Robert Andrade: Lastly, as we stated in our press release, we anticipate that our cash equivalents and investment securities as of 30 June 2026, coupled with the projected revenues from PEDMARK, will be sufficient to fund our business based on our current operating plan. Operator, with that, we are now ready to open the call for questions.

Speaker #2: Operator, with that, we are now ready to open the call for questions.

Speaker #1: Thank you. At this time, we'll conduct the question-and-answer session. As a reminder to ask the question, you'll need to press star 11 on your telephone and wait for your name to be announced.

Operator: Thank you. At this time, we will conduct a question and answer session. As a reminder, to ask a question, you will need to press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. Please stand by while we compile the Q&A roster. Our first question comes on the line of David Ansellem of Piper Sandler. Your line is now open.

Speaker #1: To withdraw your question, please press star one one again. Please stand by while we compile the Q&A roster. Our first question comes from the line of David and Selim. I’ll represent your line is not open.

Speaker #4: Thanks, so just a few for me. First, regarding the testicular cancer population, can you talk to how much of your overall patient mix right now is coming from young men with testicular cancer?

David Ansellem: Thanks. Just a few from me. First, regarding the testicular cancer population, can you talk to how much of your overall patient mix right now is coming from young men with testicular cancer? That is number one. Or maybe asking another way, what portion of your new starts on PEDMARK are in testicular cancer patients? Secondly, can you give us a sense of the mix between usage in academic centers versus community oncology practices, and how is that trending? Lastly, wanted to pick your brain on life cycle management and what you think you can do or have you given thought to ways to better improve the profile of PEDMARK? Thanks.

David Amsellem: Thanks. Just a few from me. First, regarding the testicular cancer population, can you talk to how much of your overall patient mix right now is coming from young men with testicular cancer? That is number one. Or maybe asking another way, what portion of your new starts on PEDMARK are in testicular cancer patients? Secondly, can you give us a sense of the mix between usage in academic centers versus community oncology practices, and how is that trending? Lastly, wanted to pick your brain on life cycle management and what you think you can do or have you given thought to ways to better improve the profile of PEDMARK? Thanks.

Speaker #4: That's number one. Or maybe, asking another way, what portion of your new starts on PEDMARK are in testicular cancer patients? And then secondly, can you give us a sense of the mix between usage in academic centers versus community oncology practices?

Speaker #4: And how is that trending? And then lastly, I wanted to pick your brain on lifecycle management and what you think you can do, or have been giving thought to, as ways to better improve the profile of PEDMARK.

Speaker #4: Thanks.

Speaker #2: Mm-hmm.

Robert Andrade: Jeffrey?

Speaker #3: Perfect. Thank you. This is Jeff. I'll take these and then we'll kind of pass them through some of the folks here. So thanks for the question.

Jeff Hackman: Perfect. Thank you. This is Jeff. I will take these, and then we will kind of pass them through some of the folks here. Thanks for the question. I appreciate it. Testicular cancer continues to be a driver for our business. It is the largest AYA tumor type that fits our PEDMARK profile. So those numbers for AYA, the size of the market is larger than the rest of the tumor types. Again, we are agnostic on tumor types, as you know, because we target cisplatin usage. It does not matter what tumor type it is, it is still going to have the impact to the hearing. Maybe I will have Terry talk a little bit about the testicular market trend. He can kind of give you a little bit more detail, and then I will jump back to the academic and community setting. Go ahead, Terry.

Speaker #3: I appreciate it. Testicular cancer continues to be a driver for our business. It's the largest AYA tumor type that fits our PEDMARC profile, so those numbers for AYA—the size of the market is larger than the rest of the tumor types.

Speaker #3: Again, we're agnostic on tumor types, as you know, because we target cisplatin usage, and it doesn't matter what tumor type it is. It's still going to have the impact to the hearing.

Speaker #3: So maybe I'll have Terry talk a little bit about the testicular market, and he can kind of give you a little bit more detail.

Speaker #3: And then I'll jump back to the academic and community setting. Go ahead, Terry.

Speaker #5: Yeah, sure. What we're seeing is roughly typical of what we had in Q1; however, slightly better in testicular cancer in Q2, with regard to that particular tumor type.

Terry Evans: Yeah, sure. What we are seeing is roughly typical of what we had in Q1. However, slightly better in testicular cancer in Q2 with regard to that particular tumor type and PEDMARK utilization. We have over 80% of our business right now between testicular, cervical, and head and neck. Predominantly it is testicular that is the larger driver of all of those. It really does speak to our commercial execution, sticking on our targeted plan, our sales force calling on the right folks at the right time, and then collaborating with our colleagues in market access as well as medical that is really driving the business forward. The next question was about academic versus community.

Speaker #5: And PEDMARC utilization—we've got over 80% of our business right now between testicular, cervical, and head and neck. Predominantly, it is testicular; that's the larger driver of all of those.

Speaker #5: And it really does speak to our commercial execution sticking on our targeted plan, our Salesforce calling on the right folks at the right time, and then collaborating with our colleagues in market access as well as medical.

Speaker #5: That's really driving the business forward. The next question was about academic versus community.

Jeff Hackman: Sure, you can take that. Yeah, go ahead, Terry.

Speaker #3: Sure, you can take that. Yeah, go ahead, Terry.

Terry Evans: We see a really nice balanced approach between both academic and community. I mentioned a formulary win in the community, but we also see really fantastic things happening in our academic setting as well. I would not characterize it by one leading more than the other. Both are growing really nicely with the additional sales force that we have.

Speaker #5: So we see a really nice balanced approach between both academic and community. I'd mentioned a formulary win in the community, but we've also seen really fantastic things happening in our academic setting as well.

Speaker #5: I wouldn't characterize it by one leading more than the other. Both are growing really nicely with the additional Salesforce that we have.

Speaker #3: Yeah, perfect. Thank you, Terry. And the last is the lifecycle management—your comment on that's a good one. And I might have Pierre touch on that a little bit, because I think what you're hearing from us from a lifecycle side is really coming from some of the ISTs that we've put out there.

Jeff Hackman: Yeah. Perfect. Thank you, Terry. The last is the life cycle management. Your comment on that is a good one, and I might have Pierre Sayad touch on that a little bit because I think what you are hearing from us from a life cycle side is really coming from some of the ISTs that we have put out there. There are a few areas where we think we can significantly grow the business, potentially even based on publications from these ISTs as the data comes in over the next few years. So Pierre Sayad, maybe talk a little bit about some of those areas that you see from your ISTs.

Jeff Hackman: Yeah. Perfect. Thank you, Terry. The last is the life cycle management. Your comment on that is a good one, and I might have Pierre Sayad touch on that a little bit because I think what you are hearing from us from a life cycle side is really coming from some of the ISTs that we have put out there. There are a few areas where we think we can significantly grow the business, potentially even based on publications from these ISTs as the data comes in over the next few years. So Pierre, maybe talk a little bit about some of those areas that you see from your ISTs.

Speaker #3: There are a few areas where we think we can significantly grow the business, potentially even based on publications from these ISTs, as the data comes in over the next few years.

Speaker #3: So, Pierre, maybe talk a little bit about some of those areas that you see from your ISTs.

Speaker #5: Sure, sure. So thank you for the question. The data generation is really leading to kind of a multi-pronged approach, if you will. So as patients are quickly accruing across the three existing ISTs, so City of Hope, University of Arizona, and Tampa General Hospital, we have an abundance of increased interest in additional ISTs.

Pierre S. Sayad: Sure. Thank you for the question. The data generation is really leading to a multi-pronged approach, if you will. As patients are quickly accruing across the three existing ISTs, City of Hope, University of Arizona, and Tampa General Hospital, we have an abundance of increased interest in additional ISTs. Importantly, these are across tumor types, across patient ages, and localized as well as metastatic disease. As the data matures, we are certainly having discussions with the regulatory agencies to see if there are opportunities for label expansion. Additionally, we are very keenly looking at NCCN guidelines and seeing opportunities for having increased guideline recommendations there as well.

Pierre Sayad: Sure. Thank you for the question. The data generation is really leading to a multi-pronged approach, if you will. As patients are quickly accruing across the three existing ISTs, City of Hope, University of Arizona, and Tampa General Hospital, we have an abundance of increased interest in additional ISTs. Importantly, these are across tumor types, across patient ages, and localized as well as metastatic disease. As the data matures, we are certainly having discussions with the regulatory agencies to see if there are opportunities for label expansion. Additionally, we are very keenly looking at NCCN guidelines and seeing opportunities for having increased guideline recommendations there as well.

Speaker #5: And importantly, these are across tumor types, across patient ages, and localized as well as metastatic disease. So as the data matures, we are certainly having discussions with the regulatory agencies to see is there opportunities for label expansion.

Speaker #5: Additionally, we are very, very keenly looking at NCCN guidelines and seeing opportunities for having increased guideline recommendations there as well.

Speaker #3: Great. Thank you.

Jeff Hackman: Great. Thank you.

Jeff Hackman: Thank you. Thanks, Pierre.

Speaker #4: Thanks, Pierre.

Terry Evans: Thanks, Pierre.

Pierre S. Sayad: Sure.

Speaker #1: Thank you. One moment for our next question. Our next question because the line of Chase Knickerbocker of Greg Howland is not open.

Operator: Thank you. One moment for our next question. Our next question comes from the line of Chase Knickerbocker of Craig-Hallum. Your line is now open.

Speaker #6: Good morning. Congrats on the results here. And thanks for taking the questions. Maybe just as far as how kind of that productivity is a new reps is trending.

Chase Knickerbocker: Good morning. Congrats on the results here, and thanks for taking the questions. Maybe just as far as how that productivity of the new reps is trending. Were they meaningful contributors to Q2 growth? Just trying to get a sense for what inning, how early are we in kind of their productivity ramp. Thanks.

Speaker #6: Were they meaningful contributors to Q2 growth? Just trying to get a sense for what a name how early are we in kind of their productivity ramp.

Speaker #6: Thanks.

Speaker #3: Sure. Thanks for the question, Chase. I'll take a little bit of it, and then I'll give it to Terry. But you heard from some of my comments: we now are approaching close to 5,000 targets that we're calling on.

Jeff Hackman: Sure. Thanks for the question, Chase. I will take a little bit of it, and then I will give it to Terry. But you heard from some of my comments, we now are approaching close to 5,000 targets that we are calling on. It is having an impact. We are seeing patients in places in the country where we have never seen patients before. As we even hinted a little bit on our Q3 numbers, our July continued that momentum that we are seeing. So one of the things we said early on was give these guys a little time. Now they have had a quarter under their belt. But they are going to continue to grow and get better at what they do. They need to understand where they are going. Multiple times we have to be in these offices, obviously, before we can move physicians. So give them a little time.

Jeff Hackman: Thanks for the question, Chase. I will take a little bit of it, and then I will give it to Terry. But you heard from some of my comments, we now are approaching close to 5,000 targets that we are calling on. It is having an impact. We are seeing patients in places in the country where we have never seen patients before. As we even hinted a little bit on our Q3 numbers, our July continued that momentum that we are seeing.

Speaker #3: It is having an impact. We're seeing patients in places in the country where we've never seen patients before. And as we even hinted a little bit on our Q3 numbers, our July continued that momentum that we're seeing.

Speaker #3: So one of the things we said early on was to give these guys a little time. Now they've had a quarter under their belt. But we're still not there; they're going to continue to grow and get better at what they do.

Jeff Hackman: So one of the things we said early on was give these guys a little time. Now they have had a quarter under their belt. But they are going to continue to grow and get better at what they do. They need to understand where they are going. Multiple times we have to be in these offices, obviously, before we can move physicians. So give them a little time. But what I would say is that the growth of what we are seeing, a lot is coming from our new reps. Maybe Terry, you can comment on the success of what you are seeing, too.

Speaker #3: They need to understand where they're going multiple times. We have to be in these offices, obviously, before we can move physicians. And so give them a little time.

Speaker #3: But what I would say is that the growth of what we're seeing a lot is coming from our new reps. And maybe Terry, you can comment on the success of what you're seeing too.

Jeff Hackman: But what I would say is that the growth of what we are seeing, a lot is coming from our new reps. Maybe Terry, you can comment on the success of what you are seeing, too.

Terry Evans: Yeah, there is no doubt about that. The new reps are adding to the success. Across the board, coast to coast, these are fantastic people. Great humans to start with, but really good salespeople. They are decorated before they got here. It is not really an accident looking across there for us that I would mention the cross-functional model, the collaboration that we have with our medical affairs team as well as our key account team. It is in that collaboration where these guys are doing such a wonderful job. There is consistency. They are hustling every day and it really resonates in seven straight quarters of growth.

Speaker #5: Yeah, there's no doubt about that. The new reps are adding to the success. And across the board, coast to coast, these are fantastic people.

Speaker #5: Great humans to start with, but really good salespeople. And they're decorated before they got here. And it's not really an accident looking across there for us that I had mentioned the cross-functional model, the collaboration that we have with our medical affairs team, as well as our key account team.

Speaker #5: It's in that collaboration where these guys are doing such a wonderful job. There's consistency. They're hustling every day. And it's really resonates in seven straight quarters of growth.

Terry Evans: It is in that collaboration where these guys are doing such a wonderful job. There is consistency. They are hustling every day and it really resonates in seven straight quarters of growth. I'm super proud of these guys. They are on the curve, though. Keeping in mind, Jeff mentioned this, that they started in early March. We've got one full quarter and they're on the growth curve of their education and them getting around to see everybody.

Speaker #5: So I'm super proud of these guys. They are on the curve, though. Keep in mind, Jeff mentioned this—that they started in early March.

Jeff Hackman: Sure.

Terry Evans: I'm super proud of these guys. They are on the curve, though. Keeping in mind, Jeff mentioned this, that they started in early March. We've got one full quarter and they're on the growth curve of their education and them getting around to see everybody.

Speaker #5: And we've got one full quarter. And they're on the growth curve of their education and them getting around to see everybody. So yeah.

Speaker #3: Yeah, but I can tell you the seven straight quarters. And we mentioned July and I think Terry commented on it, Chase. July, we recorded a new all-time high of completed FedMark infusions.

Jeff Hackman: Yeah, but I can tell you the seven straight quarters. We mentioned July, and I think Terry commented on it, Chase. July, we recorded a new all-time high of completed PEDMARK infusions, a new all-time high of patient enrollments, and also an all-time high of active patients. You're seeing new customers, a record month in July, and we don't plan on slowing down. I hope that answers your question, Chase.

Speaker #3: A new all-time high of patient enrollments. And also an all-time high of active patients. And so you're seeing new customers a record month in July.

Speaker #3: And we don't plan on slowing down. So I hope that answers your question, Chase.

Speaker #6: It does, Jeff. And maybe just to kind of piggyback on that comment a little bit. Growth accelerated. Again, sequentially, in the second quarter. You just kind of talked about kind of record demand you're carrying into Q3.

Chase Knickerbocker: It does, Jeff. Maybe just to kind of piggyback on that comment a little bit. Growth accelerated again sequentially in Q2. You just talked about record demand you're carrying into Q3. Seems like we've got meaningful potential utilization gain to still get from some of those newer reps. With all that together, should we be thinking about your business accelerating from a growth perspective sequentially? Maybe just give us a little bit more color as far as exactly what you're seeing in July and how we should think about the back half of the year here as your business is clearly starting to hump.

Speaker #6: Seems like we've got meaningful potential utilization gain to still get from some of those newer reps. I mean, with all that together, should we be thinking about your business accelerating from a growth perspective sequentially?

Speaker #6: Maybe just because a little bit more color as far as exactly kind of what you're seeing in July. And how we should think about the back half of the year here.

Speaker #6: As your business is clearly starting to help.

Speaker #3: Yeah. I'll comment and then I'll let Robert jump in, Chase. But we have said the back half of the year is where we'll see our growth.

Jeff Hackman: Yeah. I'll comment, and then I'll let Robert jump in, Chase. We have said the back half of the year is where we'll see our growth. We're showing growth in Q1 and Q2. Yeah, your question is just how fast and how big, and where do we see this going? When we came out of Q1, April was a record month for us coming into Q2. Now we're coming out of Q2, going into Q3, and July is a record month for us. We're continuing to see significant growth. I expect that to continue through this Q3 and into Q4. Maybe Robert, you can comment from your side on some of the things that we share.

Speaker #3: But we're showing growth in the first and second quarter. So yeah, your question is how fast and how big, and where do we see this going?

Speaker #3: When we came out of the first quarter, April was a record month for us coming into the second quarter. Now we're coming out of the second going into the third.

Speaker #3: And July is a record month for us. So we're continuing to see significant growth. I expect that to continue through this third quarter and into the fourth.

Speaker #3: Maybe Robert, you can comment from your side on some of the things that we share.

Speaker #5: Yeah, Chase, just to echo really Jeff and Terry's comments—July was an outstanding month. Early on in August—obviously, we're August 11th—that continues.

Robert Andrade: Yeah, Chase, just to echo, really, Jeff and Terry's comments. July was an outstanding month. Early on in August, obviously we are 11 August, that continues. Also in line with that, the productivity curve we expect to ramp up. We are not going to get into details in terms of how much growth, but needless to say, we are quite pleased with where we stand today in the Q3.

Speaker #5: And also in line with that, the productivity curve we expect to ramp up. So we're not going to get into details in terms of how much growth, but needless to say, we are quite pleased with where we stand today in the third quarter.

Speaker #6: Very helpful, guys. Thank you.

Chase Knickerbocker: Very helpful, guys. Thank you.

Speaker #3: Yep. Thanks, Chase.

Jeff Hackman: Yep. Thanks, Chase.

Speaker #1: Thank you. One moment for our next question. And our next question because the line of Robert of AC went right and called your line is not open.

Operator: Thank you. One moment for our next question. Our next question comes from the line of Raghuram Selvaraju of H.C. Wainwright & Co.. Your line is now open.

Speaker #7: Thanks so much for taking my questions and congratulations on a very solid quarter. Firstly, I wanted to ask about what your outlook is with regard to the timeline with which you might be in a position to provide us with a revenue guidance range, if not for this year, then potentially for 2027.

Raghuram Selvaraju: Thanks so much for taking my questions, and congratulations on a very solid quarter. Firstly, I wanted to ask about what your outlook is with regard to the timeline with which you might be in a position to provide us with a revenue guidance range, if not for this year, then potentially for 2027. Secondly, I was wondering if you could provide us with any granularity on when you anticipate a potential shift in NCCN guideline category classification for PEDMARK based on the available evidence. I was also wondering if you could tell us a little bit about ways, potential techniques, strategies to ensure that enrollment pace in the various ISTs, both the ones that are currently enrolling and the ones that you expect to come online, would proceed at a reasonable, albeit if not accelerated pace.

Speaker #7: Secondly, I was wondering if you could provide us with any granularity on when you anticipate a potential shift in NCCN guideline category classification for FedMark based on the available evidence.

Speaker #7: I was also wondering if you could tell us a little bit about ways potential techniques, strategies to ensure that enrollment pace in the various ISTs, both the ones that are currently enrolling and the ones online, would proceed at a reasonable, albeit if not accelerated pace.

Raghuram Selvaraju: I was also wondering if you could tell us a little bit about ways, potential techniques, strategies to ensure that enrollment pace in the various ISTs, both the ones that are currently enrolling and the ones that you expect to come online, would proceed at a reasonable, albeit if not accelerated pace. Lastly, if you could just give us an update on potential launch preparations, commercial assessments in preparation for the introduction of PEDMARK in Japan, and how you are thinking about partnership strategy over there, that would be very helpful. Thank you.

Speaker #7: And then lastly, if you could just give us an update on potential launch preparations, commercial assessments, in preparation for the introduction of FedMark in Japan, and how you are thinking about partnership strategy over there.

Raghuram Selvaraju: Lastly, if you could just give us an update on potential launch preparations, commercial assessments in preparation for the introduction of PEDMARK in Japan, and how you are thinking about partnership strategy over there, that would be very helpful. Thank you.

Speaker #7: That would be very helpful. Thank you.

Speaker #3: Sure, sure. Great questions, thank you. I'll start, and then I'll hand over to Robert real quick. I know we have said time and again that we don't provide formal revenue guidance.

Jeff Hackman: Sure. Great questions. Thank you. I will start, and I will hand over to Robert real quick. I know we have said time again that we do not provide formal revenue guidance. We have not for this year. That being said, we are encouraged by what we are seeing and the trends we are seeing. Can we go into 2027 with the opportunity to be able to give guidance for 2027? That is something Robert and I are talking about. Listen, as you grow a company this rapidly like we were doing and make as many changes as we are, the worst thing you can do is misguidance, right? That being said, we will be in touch with where we go from there on guidance for 2027.

Speaker #3: We haven't for this year. That being said, we're encouraged by what we're seeing and the trends we're seeing. And can we go into 27 with the opportunity to be able to give guidance for 2027?

Speaker #3: That's something Robert and I are talking about. And listen, as you grow a company this rapidly like we were doing and make as many changes as we are, we didn't want to the worst thing you can do is misguidance, right?

Speaker #3: And so we'll that being said, we'll be in touch with where we go from there. On guidance for 2027. If you look for our IST updates and where we are and your question on that, maybe I'll let Pierre speak a little bit more towards that question on the ISTs because I know you were talking about enrollment and some of the numbers.

Jeff Hackman: That being said, we will be in touch with where we go from there on guidance for 2027. If you look for our IST updates and where we are in your question on that, maybe I will let Pierre speak a little bit more towards that question on the ISTs, because I know you were talking about enrollment and some of the numbers. Again, we are not publicly tracking those numbers out, but we can talk a little bit about, I think, the momentum that we are seeing.

Jeff Hackman: If you look for our IST updates and where we are in your question on that, maybe I will let Pierre speak a little bit more towards that question on the ISTs, because I know you were talking about enrollment and some of the numbers. Again, we are not publicly tracking those numbers out, but we can talk a little bit about, I think, the momentum that we are seeing.

Speaker #3: And again, we don't we're not we're not publicly tracking those numbers out. But we can talk a little bit about, I think, the momentum that we're seeing.

Speaker #5: Okay. Sure. Sure. So, obviously, we need to be very careful that we as a company don't interfere with IST accruals for compliance reasons. That said, we have helped each institution drive awareness within their own circuits, if you will, allowing all the other physicians to know that the ISTs are open.

Robert Andrade: Sure. So obviously, we need to be very careful that we as a company don't interfere with IST accruals for compliance reasons. That said, we have helped each institution drive awareness within their own circuits, if you will, allowing all the other physicians to know that the ISTs are open and actively accruing. We are very encouraged by the early numbers that we're seeing. I'll stop there on that in terms of IST accruals. In terms of the question for NCCN, we have a very focused strategy as to when this data will finally mature so we can take it to different NCCN boards, including head and neck, Gynecologic Oncology, as well as testicular. It really is a function of getting the data.

Speaker #5: And actively accruing. So we are very encouraged by the early numbers that we're seeing. And so yeah, I'll stop there on that in terms of IST accruals.

Speaker #5: In terms of the question for NCCN, we have a very focused strategy as to when this data will finally mature. And so we could take it to different NCCN boards including head and neck, Geinonk as well as testicular.

Speaker #5: But it really is a function of getting the data.

Speaker #3: Yep. Data first and then move. Yep. The other is Japan. And one of the things you had asked about kind of where's the status and where do we look like with the partnering and licensing opportunities in Japan.

Jeff Hackman: Yeah. Data first and then move. The other is Japan, and one of the things you had asked about, where's the status and what do we look like with the partnering and licensing opportunities in Japan? We're encouraged by the discussions that we've been having. As you heard from Pierre, the data is now getting picked up at multiple meetings, not just ASCO, but now SIOP. We're excited about the STS-J01 data and what potential opportunity it represents. We're engaged with, like I said, a number of folks in Japan on the ground. Actually, matter of fact, Pierre and I will be there next week meeting with our team in Hiroshima, as well as meeting with potential partners and partners that we've been in discussions with for a while.

Speaker #3: We're encouraged by the discussions that we've been having. As you heard from Pierre, the data is now getting picked up at multiple meetings, not just ASCO, but now SIOP.

Speaker #3: So we're excited about the STSJ01 data and what potential opportunity it represents. We are engaged with, like I said, a number of folks in Japan, on the ground. As a matter of fact, Pierre and I will be there next week, meeting with our team in Hiroshima, as well as meeting with potential partners.

Jeff Hackman: Actually, matter of fact, Pierre and I will be there next week meeting with our team in Hiroshima, as well as meeting with potential partners and partners that we've been in discussions with for a while. Our focus really is we want to have the right path forward for the product there, and not just for Japan, but for Asia Pacific. We're taking our time, but we want to do this right, and we want to maximize the long-term value for that region for this product. Most importantly, also, we want to get this product approved in Japan as fast as we can. I hope that answers your question.

Speaker #3: And partners that we've been in discussions with for a while. Our focus really is we want to have the right path forward for the product there.

Jeff Hackman: Our focus really is we want to have the right path forward for the product there, and not just for Japan, but for Asia Pacific. We're taking our time, but we want to do this right, and we want to maximize the long-term value for that region for this product. Most importantly, also, we want to get this product approved in Japan as fast as we can. I hope that answers your question.

Speaker #3: And not just for Japan, but for Asia PAC. C. So we're taking our time, but we want to do this right and we want to maximize the long-term value for that region for this product.

Speaker #3: But most importantly also, we want to get this product approved in Japan as fast as we can. So I hope that answers your question.

Speaker #7: Yes, it does. Thank you so much. And one last quick one. Jeff, I know I've asked this a couple of times in the past.

Raghuram Selvaraju: Yes, it does. Thank you so much. One last quick one. Jeff, I know I've asked this a couple of times in the past, and I was just wondering if there's been any evolution in your strategic thinking regarding the possibility of in-licensing anything that might be complementary to PEDMARK for your sales force to sink their teeth into. Given the fact that you've now built up a very good head of steam with that product, are you thinking about potentially other opportunities, commercially speaking, within oncology supportive care?

Speaker #7: And I was just wondering if there's been any evolution in your strategic thinking regarding the possibility of in-licensing anything that might be complementary to FedMark for your Salesforce to sync their teeth into.

Speaker #7: Given the fact that you've now built up a very good head of steam with that product, are you thinking about potentially other opportunities, commercially speaking, within oncology supportive care?

Speaker #3: We are, and we've talked about this in the past. Now that the team is really starting to perform and execute the way they are, you can imagine that there's an opportunity to be able to put something else in their bag.

Jeff Hackman: We are, and we talked about this in the past. Now that the team is really starting to perform and execute the way they are, you can imagine that there's an opportunity to be able to put something else in their bag, so to speak. So we're looking at it. We get opportunities coming across our desks. All of us here that you've heard on the call, all are helping evaluate these opportunities. So, yeah, we continue to do that. We haven't seen anything just yet, but we're open to those discussions, as you know.

Speaker #3: And so to speak. So we're we're looking at it. We get opportunities coming across our desks. All of us here that you've heard on the call, all are helping evaluate these opportunities.

Speaker #3: So yeah, we continue to do that. We haven't seen anything just yet. But we're open to those discussions as you know.

Speaker #7: Thank you.

Raghuram Selvaraju: Thank you.

Speaker #1: Thank you. I'm showing no further questions at this time. I'll now turn it back to Jeff Hackman for closing remarks.

Operator: Thank you. I'm showing no further questions at this time. I'll now turn it back to Jeff Hackman for closing remarks.

Speaker #3: Perfect. Thank you. So thank you all for joining the call today. And as you know, and especially the questions and your participation here at the end, thank you.

Jeff Hackman: Perfect. Thank you. So, thank you all for joining the call today. As you know, and especially the questions and your participation here at the end, thank you. In summary, as you know, we execute an incredible set of priorities here at the organization. They reinforce our long-term growth, they advance the clinical evidence, and they drive commercial performance. We maintain a strong financial position as we continue all of these initiatives. Combined with the encouraging trends that we're seeing early in Q3, we believe we are well positioned to continue to sustain our growth and momentum throughout the remainder of the year. I want to thank you all for joining the call today, and this is the end of Fennec's Q2 call.

Speaker #3: In summary, as you know, we execute an incredible set of priorities here at the organization. If they reinforce our they reinforce our long-term growth, they advance the clinical evidence, and they drive commercial performance.

Speaker #3: And we maintain a strong financial position as we continue all of these initiatives. Combined with the encouraging trends that we're seeing early in the third quarter, we believe we are well positioned to continue to sustain our growth and momentum throughout the remainder of the year.

Speaker #3: I want to thank you all for joining the call today. And this is the end of Fennec's second quarter call.

Operator: Thank you for your participation in today's conference. This concludes the program. You may now disconnect.

Q2 2026 Fennec Pharmaceuticals Inc Earnings Call

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