Fennec Pharmaceuticals Inc.
US ˙ NasdaqCM ˙ CA31447P1009

SecurityFENC / Fennec Pharmaceuticals Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership211,108 shares
Latest Disclosed Value $ 1,298,314
Morgan Stanley reports 12.94% decrease in ownership of FENC / Fennec Pharmaceuticals Inc.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 211,108 shares of Fennec Pharmaceuticals Inc. (US:FENC) valued at $1,298,314 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 242,476 shares of Fennec Pharmaceuticals Inc.. This represents a change in shares of -12.94% during the quarter. The current value of the position is $1,933,749 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F FENNEC PHARMACEUTICALS COM 31447P100 211,108 -31,368 -12.94 1,298 -30.48 0.0001
2026-05-27 2025-12-31 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 242,476 10,074 4.33 1,867 -14.16 0.0001
2026-02-13 2025-12-31 13F FENNEC PHARMACEUTICALS COM 31447P100 242,476 10,074 1,867 0.0001
2026-05-27 2025-09-30 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 232,402 -21,816 -8.58 2,175 3.08 0.0001
2025-11-14 2025-09-30 13F FENNEC PHARMACEUTICALS COM 31447P100 232,402 -21,816 2,175 0.0001
2025-08-15 2025-06-30 13F FENNEC PHARMACEUTICALS COM 31447P100 254,218 -42,395 -14.29 2,110 16.83 0.0001
2025-05-15 2025-03-31 13F FENNEC PHARMACEUTICALS COM 31447P100 296,613 -49,763 -14.37 1,806 -17.50 0.0001
2025-05-15 2024-12-31 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 346,376 197,914 133.31 2,189 195.01 0.0002
2025-02-14 2024-12-31 13F FENNEC PHARMACEUTICALS COM 31447P100 346,376 197,914 2,189 0.0002
2025-05-14 2024-09-30 13F/A-2 FENNEC PHARMACEUTICALS COM 31447P100 148,462 46,377 45.43 742 19.10 0.0001
2025-02-14 2024-09-30 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 148,462 46,377 742 0.0001
2024-11-14 2024-09-30 13F FENNEC PHARMACEUTICALS COM 31447P100 148,462 46,377 742 0.0000
2025-05-14 2024-06-30 13F/A-2 FENNEC PHARMACEUTICALS COM 31447P100 102,085 27,995 37.79 624 -24.30 0.0000
2024-10-17 2024-06-30 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 102,085 27,995 624 0.0000
2024-08-14 2024-06-30 13F FENNEC PHARMACEUTICALS COM 31447P100 102,085 27,995 624 0.0000
2024-10-17 2024-03-31 13F/A-2 FENNEC PHARMACEUTICALS COM 31447P100 74,090 -3,049 -3.95 824 -4.86 0.0001
2024-08-16 2024-03-31 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 74,090 -3,049 824 0.0000
2024-05-15 2024-03-31 13F FENNEC PHARMACEUTICALS COM 31447P100 74,090 -3,049 824 0.0001
2024-08-16 2023-12-31 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 77,139 34,679 81.67 866 172.01 0.0001
2024-02-13 2023-12-31 13F FENNEC PHARMACEUTICALS COM 31447P100 77,139 34,679 866 0.0001
2023-11-15 2023-09-30 13F FENNEC PHARMACEUTICALS COM 31447P100 42,460 -18,198 -30.00 319 -40.56 0.0000
2023-08-14 2023-06-30 13F FENNEC PHARMACEUTICALS COM 31447P100 60,658 2,485 4.27 536 10.54 0.0001
2023-05-15 2023-03-31 13F FENNEC PHARMACEUTICALS COM 31447P100 58,173 12,797 28.20 484 11.26 0.0001
2023-02-14 2022-12-31 13F FENNEC PHARMACEUTICALS COM 31447P100 45,376 9,314 25.83 436 48.97 0.0000
2022-11-14 2022-09-30 13F FENNEC PHARMACEUTICALS COM 31447P100 36,062 -4,279 -10.61 292 29.78 0.0000
2022-10-27 2022-06-30 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 40,341 -9,839 -19.61 225 -19.93 0.0000
2022-08-15 2022-06-30 13F FENNEC PHARMACEUTICALS COM 31447P100 40,341 -9,839 225 0.0000
2022-10-27 2022-03-31 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 50,180 9,171 22.36 281 56.11 0.0000
2022-05-13 2022-03-31 13F FENNEC PHARMACEUTICALS COM 31447P100 50,180 9,171 281 0.0000
2022-02-14 2021-12-31 13F FENNEC PHARMACEUTICALS COM 31447P100 41,009 26 0.06 180 -53.37 0.0000
2021-11-15 2021-09-30 13F FENNEC PHARMACEUTICALS COM 31447P100 40,983 -2,447 -5.63 386 22.15 0.0001
2021-08-23 2021-06-30 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 43,430 2,453 5.99 316 23.92 0.0000
2021-08-16 2021-06-30 13F FENNEC PHARMACEUTICALS COM 31447P100 43,430 2,453 316 0.0000
2021-05-17 2021-03-31 13F FENNEC PHARMACEUTICALS COM 31447P100 40,977 -17,052 -29.39 255 -40.84 0.0000
2021-02-16 2020-12-31 13F FENNEC PHARMACEUTICALS COM 31447P100 58,029 14,206 32.42 431 62.03 0.0001
2020-11-13 2020-09-30 13F FENNEC PHARMACEUTICALS COM 31447P100 43,823 21,070 92.60 266 40.00 0.0001
2020-08-14 2020-06-30 13F FENNEC PHARMACEUTICALS COM 31447P100 22,753 22,753 -48.08 190 -28.57 0.0000
2020-05-26 2020-03-31 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 0 -400 -100.00 0 -100.00
2020-02-14 2019-12-31 13F FENNEC PHARMACEUTICALS COM 31447P100 400 399 39,900.00 3 0.0000
2019-11-14 2019-09-30 13F FENNEC PHARMACEUTICALS COM 31447P100 1 -141 -99.30 0 -100.00
2019-08-14 2019-06-30 13F FENNEC PHARMACEUTICALS COM 31447P100 142 -3,393 -95.98 1 -94.12 0.0000
2019-05-15 2019-03-31 13F FENNEC PHARMACEUTICALS COM 31447P100 3,535 -18,651 -84.07 17 -88.03 0.0000
2019-02-14 2018-12-31 13F FENNEC PHARMACEUTICALS COM 31447P100 22,186 -1,802 -7.51 142 -27.55 0.0000
2019-04-23 2018-09-30 13F/A-2 FENNEC PHARMACEUTICALS COM 31447P100 23,988 -2,317 -8.81 196 -28.73 0.0000
2018-11-20 2018-09-30 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 23,988 0 196 0.0000
2018-11-14 2018-09-30 13F FENNEC PHARMACEUTICALS COM 31447P100 23,988 -2,317 196
2019-04-23 2018-06-30 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 26,305 24,439 1,309.70 275 1,095.65 0.0001
2018-08-14 2018-06-30 13F FENNEC PHARMACEUTICALS COM 31447P100 26,305 24,439 275
2019-04-23 2018-03-31 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 1,866 1,500 409.84 23 475.00 0.0000
2018-05-14 2018-03-31 13F FENNEC PHARMACEUTICALS COM 31447P100 1,866 1,500 23
2019-04-23 2017-12-31 13F/A-1 FENNEC PHARMACEUTICALS COM 31447P100 366 366 4 0.0000
2018-02-14 2017-12-31 13F FENNEC PHARMACEUTICALS COM 31447P100 366 4 0.0000
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.