The increase in Hirschman's disclosed stake from an undisclosed level to 7.1% signals growing insider/affiliate conviction. Monitor for any future 13D conversion or additional buying, though the passive filing designation suggests no near-term activist campaign.
Price Chart
Executive Summary
Orin Hirschman and affiliated entities (AIGH Capital Management, AIGH Investment Partners) filed an amended Schedule 13G disclosing a 7.1% passive stake in Fennec Pharmaceuticals as of September 30, 2026, holding 2,499,421 common shares. This is an increase from the prior initial 13G filing by Hirschman on April 28, 2026 (which did not disclose a specific percentage), indicating growing conviction. The filing remains passive with no activist intent.
Key Financial Metrics
Key Facts
- Orin Hirschman and affiliates hold 2,499,421 common shares of Fennec Pharmaceuticals, representing 7.1% of outstanding shares as of September 30, 2026.
- This is an amendment to the initial Schedule 13G filed on April 28, 2026, which did not disclose a specific stake percentage.
- The filing is made under Rule 13d-1(b) — passive investment, no activist intent.
- AIGH Capital Management LLC acts as advisor/sub-advisor for the shares; Hirschman is the managing member.
Financial Impact
7.1% passive stake valued at approximately $2.5 million based on share count and typical biotech trading range
Risk Factors
- Passive 13G status means the investor cannot engage in activist activities without converting to 13D, limiting near-term catalyst potential.
- Biotech sector volatility and Fennec's clinical-stage risk could offset the positive signal from increased insider ownership.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G/A Filing (Primary) | 0001493152-26-047509 |
| Document: 0001493152-26-047509-index.html | 0001493152-26-047509 |
| Document: 0001493152-26-047509.txt | 0001493152-26-047509 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | SC 13G/A | $10.27 | awaiting T+60 | — | $10.15 (−1.17%) |
Aug 31, 2026 8w ago | Insider Cluster | $12.03 | awaiting T+60 | — | $10.15 (−15.63%) |
Aug 31, 2026 8w ago | Insider Cluster | $12.03 | awaiting T+60 | — | $10.15 (−15.63%) |
Aug 11, 2026 11w ago | Press Release | $12.78 | awaiting T+60 | — | $10.15 (−20.58%) |
Jun 15, 2026 19w ago | Press Release | $9.19 $11.65 | ▲ +26.77% | ▲ +25.77% | $10.15 (+10.45%) |
May 22, 2026 22w ago | 8-K | $9.89 $11.87 | ▲ +20.02% | ▲ +17.30% | $10.15 (+2.63%) |
May 18, 2026 23w ago | 8-K | $9.76 $12.06 | ▲ +23.57% | ▲ +17.28% | $10.15 (+4.00%) |
May 14, 2026 23w ago | Press Release | $9.24 $10.94 | ▲ +18.40% | ▲ +14.81% | $10.15 (+9.85%) |
May 7, 2026 24w ago | Press Release | $6.90 $9.59 | ▲ +38.99% | ▲ +35.15% | $10.15 (+47.10%) |
Apr 28, 2026 26w ago | 8-K | $6.26 $9.99 | ▲ +59.58% | ▲ +55.47% | $10.15 (+62.14%) |
US Market Status
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