Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price10.91 USD
Fair value19.47
Ethical score95.7/100
RatingOPPORTUNITY
Our investment reviews on this name
2026-07-02Read Markup8.70+25.4% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Fennec Pharmaceuticals Inc. holds its Markdown at $10.91. The statistical read favours the sellers, held for 4 days.
As held on the ledger · 2026-09-21
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 4 days
Price at the screen
$10.91
Valuation
N/A trailing · 11.46 forward price to earnings
Values screen
PASS· score 95.7
Beta
1.10
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.00%
Below 33%
Interest-bearing debt is just 0.0% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
11.47%
Below 33%
Cash held in interest-bearing accounts and securities is 11.5% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads OPPORTUNITY: it trades at roughly a 79% discount to our $19.47 fair value, weak competitive moat, 85.20% revenue growth.
Fair value range in USD, drawn from the 2026-09-21 screen. The gold marker is the market price at the same screen. A 78.5% margin of safety to the base estimate.
Third-party analyst targets: 6 covering, consensus None. The average target sits +65% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-21 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Protecting Young Ears from Chemo Damage
A child finishing cancer treatment should not face permanent hearing loss on top of everything else. Fennec's PEDMARK is the first approved drug aimed squarely at that risk in young patients, turning a narrow but urgent medical need into a commercial product that is already driving revenue.
The business is growing revenue at 73 percent while the shares trade on a forward multiple of just 11.8 times and sit 69 percent below our fair value of 17.79 dollars. That combination of rapid top-line expansion and a wide margin of safety is rare in small-cap biotech and explains the opportunity rating.
Profit margins remain negative at minus 16 percent and return on equity is deeply negative, reflecting a still-maturing commercial launch and a weak competitive moat. Biotech execution risk stays high even after approval, so the valuation gap could close slowly or not at all.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FENC trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-29Markup$11.87+13.0%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 13.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (7 analysts) rates it strong buy, with a mean price target of $16.
2026-07-28Markup$10.50+20.7%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 20.7% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (7 analysts) rates it strong buy, with a mean price target of $16.
2026-07-18Markup$8.70+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (7 analysts) rates it strong buy, with a mean price target of $16.
2026-07-03Markup$8.70+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score (96). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$8.70Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with near-perfect ethical score (96). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
