# EDGAR Filing Document

**Accession Number:** 0001771377
**File Stem:** 0001013594-26-000251
**Filing Date:** 2026-2
**Character Count:** 13475
**Document Hash:** 836a95a9748df4aa80a1ced089df57ec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001013594-26-000251.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001013594-26-000251

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**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/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-80470
- **FILM NUMBER:** 26637918

**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:** Sonic Fund II, L.P.
- **CENTRAL INDEX KEY:** 0001771377

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOBRON LANE, SUITE 3709
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96815
- **BUSINESS PHONE:** 8086493381

**MAIL ADDRESS:**
- **STREET 1:** 400 HOBRON LANE, SUITE 3709
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96815

## Exhibit 99.1

14296023.2 - 02/12/26

#### EXHIBIT A

#### JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G with respect to the Ordinary Shares of Fennec Pharmaceuticals Inc. dated as of February 17, 2026, is, and any further amendments thereto signed by each of the undersigned shall be, filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k)(2) under the Securities Exchange Act of 1934, as amended.

Dated: February 17, 2026

---

| | |
|:---|:---|
| &nbsp;&nbsp; SONIC GP LLC  | &nbsp;&nbsp; SONIC GP LLC  |
| &nbsp;&nbsp; By:  | &nbsp;&nbsp; /s/ Lawrence Kam  |
|  | &nbsp;&nbsp; Lawrence Kam, Managing Member  |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; THE SONIC FUND II, L.P.  | &nbsp;&nbsp; THE SONIC FUND II, L.P.  |
| &nbsp;&nbsp; By:  | &nbsp;&nbsp; /s/ Lawrence Kam  |
|  | &nbsp;&nbsp; Lawrence Kam, Authorized Person  |

---

---

| |
|:---|
| &nbsp;&nbsp; /s/ Lawrence Kam  |
| &nbsp;&nbsp; Lawrence Kam  |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 3)**

**Issuer:** Fennec Pharmaceuticals Inc.

**Title of Class of Securities:** Common stock, no par value (the "Shares")

**CUSIP Number:** 31447P100

**Date of Event Which Requires Filing of this Statement:** 12/31/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Sonic Fund II, L.P. | Names of Reporting Persons<br>Sonic Fund II, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2607357 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2607357 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2607357 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2607357 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>7.6% | Percent of Class Represented by Amount in Row (9)<br>7.6% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

---

| 1. | Names of Reporting Persons<br>Sonic GP LLC | Names of Reporting Persons<br>Sonic GP LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2607357 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2607357 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2607357 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2607357 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>7.6% | Percent of Class Represented by Amount in Row (9)<br>7.6% |
| 12. | Type of Reporting Person (See Instructions)<br>IA | Type of Reporting Person (See Instructions)<br>IA |

---

| 1. | Names of Reporting Persons<br>Kam Lawrence | Names of Reporting Persons<br>Kam Lawrence |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>— | Citizenship or Place of Organization<br>— |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>190202 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2607357 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>190202 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2607357 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2799959 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2799959 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>8.2% | Percent of Class Represented by Amount in Row (9)<br>8.2% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

---

**Item 1(a). Name of Issuer:**
Fennec Pharmaceuticals Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
PO Box 13628, 68 TW Alexander Drive, Research Triangle Park, NC 27709

**Item 2(a). Name of Person Filing:**
The names of the persons filing this statement on Schedule 13G (collectively, the "Reporting Persons") are:

*	The Sonic Fund II, L.P. (the "Fund").

*	Sonic GP LLC (the "General Partner").

*	Lawrence Kam.

**Item 2(b). Address of Principal Business Office:**
The address of the principal offices of each of the Reporting Persons is 400 Hobron Lane, Suite 3709, Honolulu, HI 96815.

**Item 2(c). Citizenship:**
The Fund and the General Partner are organized under the laws of the State of Delaware. Mr. Kam is a citizen of the United States of America.

**Item 2(d). Title of Class of Securities:**
Common stock, no par value (the "Shares")

**Item 2(e). CUSIP Number:**
31447P100

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

As of December 31, 2025, the Reporting Persons may be deemed to have beneficially owned 2,799,959 Shares.
The Fund holds the Shares directly. The General Partner is the General Partner of the Fund, and by virtue of that relationship, the General Partner may be deemed to beneficially own the Shares owned directly by the Fund. Mr. Kam is the managing member of the General Partner, and by virtue of this relationship, Mr. Kam may be deemed to beneficially own the Shares beneficially owned by the General Partner. Mr. Kam directly holds the shares over which he has sole voting and dispositive power. Each of the Reporting Persons is party to that certain Joint Filing Agreement attached hereto as Exhibit A.

**(b) Percent of class:**

8.2% (based upon 34,153,496 Shares outstanding, which is the total number of Shares outstanding as of November 17, 2025 as reported in the Issuer's Prospectus Supplement dated December 15, 2023, filed with the Securities and Exchange Commission on November 18, 2025).

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See Cover Pages Items 5-9.

**(ii) Shared power to vote or to direct the vote:**

See Cover Pages Items 5-9.

**(iii) Sole power to dispose or to direct the disposition of:**

See Cover Pages Items 5-9.

**(iv) Shared power to dispose or to direct the disposition of:**

See Cover Pages Items 5-9.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

See Exhibit A.

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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 ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Sonic Fund II, L.P.**

**Date:** 02/17/2026

**By:** /s/ Lawrence Kam

**Name & Title:** Lawrence Kam, Managing Member of Sonic GP LLC, its General Partner

**Sonic GP LLC**

**Date:** 02/17/2026

**By:** /s/ Lawrence Kam

**Name & Title:** Lawrence Kam, Managing Member

**Kam Lawrence**

**Date:** 02/17/2026

**By:** /s/ Lawrence Kam

**Name & Title:** Lawrence Kam, a natural person