<SEC-DOCUMENT>0001622627-25-000039.txt : 20251113
<SEC-HEADER>0001622627-25-000039.hdr.sgml : 20251113
<ACCEPTANCE-DATETIME>20251113160851
ACCESSION NUMBER:		0001622627-25-000039
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251113
DATE AS OF CHANGE:		20251113

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FENNEC PHARMACEUTICALS INC.
		CENTRAL INDEX KEY:			0001211583
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-80470
		FILM NUMBER:		251478486

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 13628
		STREET 2:		68 TW ALEXANDER DRIVE
		CITY:			RESEARCH TRIANGLE PARK
		STATE:			NC
		ZIP:			27709
		BUSINESS PHONE:		(919) 636-4530

	MAIL ADDRESS:	
		STREET 1:		PO BOX 13628
		STREET 2:		68 TW ALEXANDER DRIVE
		CITY:			RESEARCH TRIANGLE PARK
		STATE:			NC
		ZIP:			27709

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FENNEC PHARMACEUTICALS, INC.
		DATE OF NAME CHANGE:	20140903

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ADHEREX TECHNOLOGIES INC
		DATE OF NAME CHANGE:	20021223

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Rosalind Advisors, Inc.
		CENTRAL INDEX KEY:			0001622627
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		15 WELLESLEY STREET WEST
		STREET 2:		SUITE 326
		CITY:			TORONTO
		PROVINCE COUNTRY:   	A6
		ZIP:			M4Y 0G7
		BUSINESS PHONE:		4167910300

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		15 WELLESLEY STREET WEST
		STREET 2:		SUITE 326
		CITY:			TORONTO
		PROVINCE COUNTRY:   	A6
		ZIP:			M4Y 0G7
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001622627</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001211583</issuerCik>
        <issuerName>FENNEC PHARMACEUTICALS INC.</issuerName>
        <issuerCusip>31447P100</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>PO BOX 13628</com:street1>
          <com:street2>68 TW ALEXANDER DRIVE</com:street2>
          <com:city>RESEARCH TRIANGLE PARK</com:city>
          <com:stateOrCountry>NC</com:stateOrCountry>
          <com:zipCode>27709</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Rosalind Advisors, Inc.</reportingPersonName>
      <citizenshipOrOrganization>A6</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2076840.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2076840.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2076840.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>7.5</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>SALAMON STEVEN A J</reportingPersonName>
      <citizenshipOrOrganization>A6</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2076840.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2076840.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2076840.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>7.5</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Aharon Gil</reportingPersonName>
      <citizenshipOrOrganization>A6</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2076840.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2076840.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2076840.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>7.5</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Rosalind Master Fund L.P.</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2076840.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2076840.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2076840.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>7.5</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>FENNEC PHARMACEUTICALS INC.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>PO BOX 13628, 68 TW ALEXANDER DRIVE, RESEARCH TRIANGLE PARK, NORTH CAROLINA, 27709</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Rosalind Advisors Inc. Advisor to RMF
Rosalind Master Fund L.P. RMF
Steven Salamon President
Steven Salamon is the portfolio manager of the Advisor which advises RMF.
Gilad Aharon is the portfolio manager and member of the Advisor which advises RMF.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Rosalind Advisors, Inc.
15 Wellesley Street West
Suite 326
Toronto, Ontario
M4Y 0G7 Canada

Rosalind Master Fund L.P.
P.O. Box 309
Ugland House, Grand Cayman
KY1-1104, Cayman Islands

Steven Salamon
15 Wellesley Street West
Suite 326
Toronto, Ontario
M4Y 0G7 Canada

Gilad Aharon
15 Wellesley Street West
Suite 326
Toronto, Ontario
M4Y 0G7 Canada</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Mr. Salamon and Mr. Aharon are citizens of Canada, resident in Ontario</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>The information as of the date of the event which requires filing of this statement required by Items 4a to c is set forth in Rows 7 to 13 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The percentage set forth in Row 11 of the cover page for each Reporting Person is based upon 27,831,698 ordinary shares of the Issuers common stock outstanding as of August 11, 2025, based on the 10Q Filing of August 14, 2025.


Rosalind Advisors Inc. is the investment advisor to RMF and may be deemed to be the beneficial owner of shares held by RMF. Steven Salamon is the portfolio manager of the Advisor and may be deemed to be the beneficial owner of shares held by RMF. Notwithstanding the foregoing, the Advisor and Mr. Salamon disclaim beneficial ownership of the shares.</amountBeneficiallyOwned>
        <classPercent>Rosalind Advisors Inc. 7.46%
Rosalind Master Fund L.P. 7.46%
Steven Salamon 7.46%
Gilad Aharon 7.46%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>Rosalind Advisors Inc. 2,076,840
Rosalind Master Fund L.P. 2,076,840
Steven Salamon 2,076,840
Gilad Aharon 2,076,840
</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>Rosalind Advisors Inc. 2,076,840
Rosalind Master Fund L.P. 2,076,840
Steven Salamon 2,076,840
Gilad Aharon 2,076,840
</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Rosalind Advisors, Inc.</reportingPersonName>
      <signatureDetails>
        <signature>Steven Salamon</signature>
        <title>President</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>SALAMON STEVEN A J</reportingPersonName>
      <signatureDetails>
        <signature>Steven Salamon</signature>
        <title>Steven Salamon</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Aharon Gil</reportingPersonName>
      <signatureDetails>
        <signature>Gil Aharon</signature>
        <title>Gil Aharon</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Rosalind Master Fund L.P.</reportingPersonName>
      <signatureDetails>
        <signature>Mike McDonald</signature>
        <title>Director, Rosalind (Cayman) Ltd. (as General Partner to Rosalind Master Fund)</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
