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Adherex Technologies Inc.

FENC Healthcare Biotechnology

Adherex Technologies Inc.’s revenue for fiscal 2025 (year ended December 2025) was $44.6 million, down 6.09% from fiscal 2024.

Revenue
+85.2%
EPS
+154.6%
Free cash flow
+101.4%

Quarter to June 2026, against a year earlier

9.89 0.50 +5.32%
Market cap
$329.3M
P/E
0.0×
Fwd P/E
34.1×
Dividend yield
—
F-score
1/9
Altman Z
0.51
Beneish M
−1.29
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 9.62
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 1 1 1 1 2 1 1 3 2 — —
Insider Ownership 12.87%

Capital & Financial Ratios $m

Size
Market Cap 329.29
Revenue ttm 59.22
Net income ttm (3.25)
Free cash flow ttm (2.04)
Net debt Q (41.25)
Valuation
P/E 0.00
Forward P/E 34.10
Price / sales 5.77
Forward P/S Powerpack
Price / FCF 0.00
Price / book 8.05 (above 6: high)
Financial health
Current ratio Q 5.85 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 579.00
Growth
Revenue growth Q +85.18% (above 0%: growing)
Operating income growth Q +163.58% (above 0%: growing)
EPS, this year +181.14% (at or above 15%: strong)
EPS, next year A +217.61% (at or above 15%: strong)
Revenue, next year A +62.54% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.4×, against a ten-year median of 5.7×; over the ten years it ranged from 2.2× in 2024 to 36.7× in 2023.
P/S against its own 10 years 46.98%
10-year low 10-year high
P/B against its own 10 years 50.64%
10-year low 10-year high
EV/Sales against its own 10 years 43.65%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 13 27 37 41
Receivables 9 13 23 23
Inventory 2 1 2 2
Other 0 0 2 2
27 44 67 73
2023 2024 2025 Q'26
Payables 4 3 5 6
ST’ Debt — — — —
Other — 0 0 3
8 7 11 12

Compound Annual Growth %

10y 5y 3y
Sales — — 207.52%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 51.74% 4.06% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.01 Actual 0.05

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.08 −0.02 Beat by 0.06
Q4 FY25 0.03 −0.11 Miss by 0.14
Q1 FY26 −0.02 0.01 Beat by 0.03
Q2 FY26 0.01 0.05 Beat by 0.04
Q3 FY26 0.09 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.01 0.05 — — —
’25 (0.04) (0.11) (0.02) (0.17) (0.35)
’24 0.41 (0.20) (0.21) (0.06) (0.02)
’23 (0.23) (0.21) (0.07) (0.10) (0.60)
’22 (0.14) (0.19) (0.31) (0.26) (0.90)
’21 (0.18) (0.15) (0.16) (0.18) (0.67)
’20 (0.19) (0.21) (0.24) (0.13) (0.76)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 15 18 — — —
’25 9 10 12 14 45
’24 25 7 7 8 48
’23 2 3 7 10 21
’22 — — — 2 2
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2 0 — — —
’25 (4) (4) 1 (6) (12)
’24 39 (8) (2) (1) 27
’23 (6) (4) (3) (5) (17)
’22 (3) (3) (5) (7) (18)
’21 (4) (4) (3) (3) (14)
’20 (4) (3) (5) (3) (16)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2 0 — — —
’25 (4) (4) 1 (6) (12)
’24 39 (8) (2) (1) 27
’23 (6) (4) (3) (5) (17)
’22 (3) (3) (5) (7) (18)
’21 (4) (4) (3) (3) (14)
’20 (4) (3) (5) (3) (16)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — — 0 — 2 21 48 45 59 +204.7% 73 103 139 +46.0%
Gross margin, % — — — — 100.00 — 94.40 94.08 93.30 91.57 93.73 (8.4) pt
EBT (3) (7) (10) (13) (18) (17) (24) (16) 0 (10) (3) +14.8%
EBT margin, % 0.00 0.00 0.00 0.00 (10,652.35) 0.00 (1,544.30) (75.50) (0.15) (21.58) (5.24) (21.6) pt
Net income (3) (7) (10) (13) (18) (17) (24) (16) 0 (10) (3) +14.9%
Per share, $
Per share, $ Revenue 0.00 0.00 0.00 0.00 0.01 0.00 0.06 0.80 1.74 1.56 1.71 n/m
Earnings (0.22) (0.47) (0.50) (0.64) (0.76) (0.67) (0.90) (0.60) (0.02) (0.35) (0.12) +5.3%
Cash flow (0.17) (0.24) (0.41) (0.46) (0.66) (0.55) (0.69) (0.65) 0.99 (0.44) (0.06) +11.3%
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow (0.17) (0.24) (0.41) (0.46) (0.66) (0.55) (0.69) (0.65) 0.99 (0.44) (0.06) +11.3%
Book value 0.28 1.78 1.13 0.60 1.23 0.61 (0.10) (0.44) (0.22) 1.24 1.23 +18.0%
Shares, m 13 15 19 20 24 26 26 27 27 29 31 +9.4%
Valuation, ×
Valuation, × P/E — — — — 0.00 — 0.00 0.00 0.00 0.00 0.00 0.0
P/S — — — — 0.00 — 0.00 13.90 3.63 4.93 5.77 4.5
P/B — — — — 6.07 — 0.00 0.00 0.00 6.20 8.05 2.5
EV/Sales — — — — 0.00 — 0.00 14.68 3.45 4.52 5.38 4.5
EV/FCF — — — — (9.38) — (14.70) (18.20) 6.09 (16.16) (156.25) (10.5)
Cash, $m
Cash, $m Operating cash flow (2) (4) (8) (9) (16) (14) (18) (17) 27 (12) (2) +21.7%
Capex — — — — — — — — — — — —
Free cash flow (2) (4) (8) (9) (16) (14) (18) (17) 27 (12) (2) +21.7%
Balance, $m
Balance, $m Working capital 4 27 21 12 29 21 22 19 37 57 60 +35.9%
Net debt (4) (28) (23) (14) (30) (16) 1 16 (9) (37) (41) +28.2%
Shareholders’ equity 4 27 21 12 29 16 (3) (12) (6) 35 42 +29.1%
Returns, %
Returns, % ROA (111.76) (43.53) (38.51) (68.88) (79.49) (64.45) (96.10) (59.64) (1.21) (16.87) (5.39) +94.9 pt
ROIC 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (165.56) 0.00 0.00 (58.89) 0.0 pt
ROE (135.45) (46.47) (41.14) (76.99) (88.46) (77.36) (359.22) 226.13 4.98 (65.82) (18.58) +69.6 pt
People
People Employees 3 3 3 4 9 10 36 29 32 35 — +31.4%
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.02 0.00 0.04 0.73 1.49 1.28 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Adherex Technologies Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AGMB AgomAb Therapeutics NV $343.3M — — — — — — — Compare
SRZN Surrozen, Inc. $340.9M — (loss-making) — (loss-making) +408.65% (above 0%: growing) n/m −21.25% (below 0%: shrinking) 100.00% (207.40%) Compare
AVIR Atea Pharmaceuticals, Inc. $338.5M — (loss-making) — (loss-making) +295.16% (above 0%: growing) n/m +85.53% (above 0%: growing) 0.00% 0.00% Compare
OBIO Orchestra BioMed Holdings, Inc. $337.8M — (loss-making) — (loss-making) −89.47% (below 0%: shrinking) n/m −25.87% (below 0%: shrinking) 71.59% (25,404.55%) Compare
AUTL Autolus Therapeutics PLC Sponsored ADR $335.4M — (loss-making) — (loss-making) +118.37% (above 0%: growing) n/m +67.55% (above 0%: growing) 55.20% (95.95%) Compare
IRD Opus Genetics, Inc. $333.2M — (loss-making) — (loss-making) −73.80% (below 0%: shrinking) n/m −16.37% (below 0%: shrinking) 100.00% (2,182.78%) Compare
FENC Adherex Technologies Inc. $329.3M — (loss-making) 34.1× +85.18% (above 0%: growing) n/m +101.36% (above 0%: growing) 95.97% 9.72%
PROK ProKidney Corp. $322.0M — (loss-making) — (loss-making) −32.13% (below 0%: shrinking) n/m −28.03% (below 0%: shrinking) 100.00% (32,248.67%) Compare
EIKN Eikon Therapeutics, Inc. $316.3M — (loss-making) — — n/m +15.18% (above 0%: growing) — 0.00% Compare
Median of peers $336.6M — — +43.12% — −16.37% 85.80% (207.40%)

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 28 April 2026

Ownership

Directors and executive officers, together 10.73%
Essetifin SpA 11.50%
Rosalind Advisors, Inc. 7.91%
Southpoint Capital Advisors, LP. 7.91%
Sonic Fund II, LP. 7.51%
Solas Capital Management 7.38%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Adherex Technologies Inc. (FENC) Latest News

14 Aug

Impact 3 ·

11 Aug

Impact 4 ·
Impact 3 · · MarketBeat
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23 May

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22 May

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21 Apr

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25 Mar

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24 Mar

Impact 4 · · GuruFocus.com
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Impact 3 · · Zacks

17 Mar

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16 Mar

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15 Mar

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2 Mar

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20 Feb

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6 Jan

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26 Dec

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stockrow.com/FENC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com