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FENNEC PHARMACEUTICALS INC. Director's Dealing 2007

Dec 5, 2007

35599_dirs_2007-12-05_46173772-84f6-41cf-83aa-a0c1432443f8.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADHEREX TECHNOLOGIES INC (AMEX:ADH)
CIK: 0001211583
Period of Report: 2007-12-03

Reporting Person: MORAND PETER (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-12-03	Stock Options (Right to buy)	$0.28	A	50000	Acquired	2014-12-03	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	20000	Direct
Common Stock	45000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to buy)	$0.28	2014-02-28	Common Stock (50000)	50000	Direct
Stock Options (Right to buy)	$0.63	2014-04-30	Common Stock (270000)	270000	Direct
Stock Options (Right to buy)	$1.2	2012-05-18	Common Stock (18621)	18621	Direct
Stock Options (Right to buy)	$1.2	2012-09-21	Common Stock (30000)	30000	Direct
Stock Options (Right to buy)	$1.7	2010-05-03	Common Stock (7800)	7800	Direct
Stock Options (Right to buy)	$2.9	2011-05-21	Common Stock (4000)	4000	Direct
Stock Options (Right to buy)	$3.25	2011-03-01	Common Stock (18621)	18621	Direct
Warrants (Right to buy)	$0.4	2010-02-21	Common Stock (5000)	5000	Direct

Footnotes

F1: The options to which this note relates will vest 100% on the date reported above.