Item 1.01 Entry into a Material Definitive Agreement.






Loan and Security Agreement

On January 31, 2022 (the "Closing Date"), Fennec Pharmaceuticals, Inc, a Delaware corporation (the "Company"), and wholly owned subsidiary of Fennec Pharmaceuticals Inc. ("Fennec") announced a third amendment to its existing senior debt facility with the Life Sciences Group at Bridge Bank, a division of Western Alliance Bank, an Arizona corporation (the "Bank"), amended and restated certain definitions in the Second Amendment to the Loan Security Agreement originally dated February 1, 2019.

The U.S. operating subsidiary of Fennec Pharmaceuticals Inc. entered into a Third Amendment to the 2019 Loan and Security Agreement with Bridge Bank. This amendment redefines certain definitions to the agreement. The term "Resubmission Event" is the resubmission by Fennec for final NDA approval from the U.S. Food and Drug Administration for PEDMARK on or before March 31, 2022. The "Approval Event" is the receipt of the final NDA approval by Fennec from the U.S. Food and Drug Administration for PEDMARK on or before September 30, 2022. The Company intends to use the proceeds from the loans to provide working capital for commercial readiness activities prior to NDA approval as well as commercialization activities for PEDMARK, if approved.

A copy of the Loan and Security Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference. The foregoing is a summary description of the terms of the Loan and Security Agreement and does not purport to be complete.





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Item 9.01 Financial Statements and Exhibits.






(d) Exhibits.




Exhibit No.   Description




  Exhibit 10.1       Third Amendment to the Loan and Security Agreement dated as of
                   January 27, 2022 by and among Fennec Pharmaceuticals, Inc. and Western
                   Alliance Bank.
Exhibit 104        Cover Page Interactive Data File (formatted as Inline XBRL)

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