Fennec Pharmaceuticals Inc. announced an amendment to its existing senior debt facility with the Life Sciences Group at Bridge Bank increasing the size of the facility from $18 million to $20 million. The U.S. operating subsidiary of Fennec Pharmaceuticals Inc. entered into a Second Amendment to the 2019 Loan and Security Agreement with Bridge Bank. This amendment provides Fennec with a $20 million debt facility comprised of three term loans. Term Loan A consists of $5.0 million to be funded upon closing. Term Loan B consists of $7.5 million to be funded upon New Drug Application (NDA) approval of PEDMARKTM in the U.S. Term Loan C consists of $7.5 million to be funded upon the occurrence of a revenue event in 2022. The interest-only period for the facility has the ability to be extended from 18 months to 24 months from the funding of Term Loan B, provided that Term Loan C is funded, and certain conditions are met. 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. The U.S. Food and Drug Administration (FDA) has recently accepted for filing the resubmission of Fennec’s NDA for PEDMARK TM and set a Prescription Drug User Fee Act (PDUFA) target action date for November 27, 2021.