About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Core Viewpoint - Medicus Pharma Ltd. has successfully closed a public offering of 2,260,000 units at a price of $3.10 per unit, which includes common shares and warrants for future purchases [1][2]. Group 1: Offering Details - The offering was conducted on a "best-efforts" basis, with each unit comprising one common share and one warrant to purchase an additional common share at the same price of $3.10, expiring in five years [1][2]. - Maxim Group LLC served as the lead placement agent, with Brookline Capital Markets and D. Boral Capital acting as co-placement agents [2]. Group 2: Use of Proceeds - The net proceeds from the offering will primarily fund a Phase 2 proof of concept clinical trial for treating basal cell carcinoma using a doxorubicin-loaded dissolvable microarray needle skin patch [3]. - Additional proceeds may be allocated to expand the exploratory Phase 2 clinical trial to a pivotal trial and to cover other non-melanoma skin diseases, with any remaining funds directed towards general corporate purposes and working capital [3]. Group 3: Company Overview - Medicus Pharma Ltd. is a biotech/life sciences company focused on advancing clinical development programs for innovative therapeutics [6]. - SkinJect Inc., a wholly owned subsidiary, is developing a non-invasive treatment for basal cell skin cancer using a patented dissolvable microneedle patch [7]. - The company has completed a Phase 1 safety and tolerability study and is currently conducting multiple Phase 2 clinical studies in the United States, Europe, and the UAE [7]. Group 4: Acquisition Plans - In April 2025, the company announced a binding letter of intent to acquire Antev Ltd., a UK-based biotech company developing a next-generation GnRH antagonist for high-risk prostate cancer patients [8]. - The acquisition is subject to due diligence, negotiation of definitive agreements, and obtaining necessary approvals, with no guarantees of successful completion [8].

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Company Overview - Medicus Pharma Ltd. is a biotech/life sciences company focused on accelerating the clinical development of novel therapeutics assets [6] - SkinJect Inc., a wholly owned subsidiary, is developing a non-invasive treatment for basal cell skin cancer using a patented dissolvable microneedle patch [7] Public Offering Details - The company announced a public offering of 2,260,000 units at a price of $3.10 per unit, with each unit consisting of one common share and one warrant [1] - The offering is expected to close on June 2, 2025, subject to customary closing conditions [2] Use of Proceeds - Net proceeds from the offering will fund a Phase 2 proof of concept clinical trial for basal cell carcinoma treatment using a doxorubicin-loaded microarray needle skin patch [3] - Proceeds may also be used to expand exploratory Phase 2 clinical trials to pivotal trials and cover other non-melanoma skin diseases, with remaining funds allocated for general corporate purposes and working capital [3] Acquisition Plans - The company announced a binding letter of intent to acquire Antev Ltd., a UK-based biotech company developing Teverelix for high-risk prostate cancer patients [8] - The acquisition is subject to due diligence, negotiation of definitive agreements, and obtaining necessary approvals [8]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights into sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is committed to adopting technology to enhance its content creation and workflow processes [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]

Core Insights - Medicus Pharma Ltd. has received approval from the UAE Department of Health to commence a Phase 2 clinical study (SKNJCT-004) for the non-invasive treatment of Basal Cell Carcinoma (BCC) of the skin [1][2] - The study will involve 36 participants across four clinical sites in the UAE, including Cleveland Clinic Abu Dhabi [2][3] - The clinical trial is designed as a randomized, double-blind, placebo-controlled study to evaluate the efficacy of two dose levels of D-MNA compared to a placebo [3][4] Clinical Study Details - The SKNJCT-004 study will randomize participants into three groups: a placebo group, a low-dose group receiving 100μg of D-MNA, and a high-dose group receiving 200μg of D-MNA [3] - The high-dose of 200μg D-MNA is the maximum dose used in the previous Phase 1 study (SKNJCT-001), which met its primary objective of safety and tolerability [4][5] - In the Phase 1 study, D-MNA was well tolerated with no serious adverse events, and six participants achieved complete responses [5] Ongoing and Future Studies - The company is also conducting the SKNJCT-003 Phase 2 clinical study in the United States, which began randomizing patients in August 2024 and has shown a positive interim analysis with over 60% clinical clearance [6][7] - The number of participants in the SKNJCT-003 study has been increased to 90, and the company is expanding clinical trial sites in Europe [7] Strategic Developments - Medicus Pharma has entered into a binding letter of intent to acquire Antev Ltd., a UK-based biotech company developing a next-generation GnRH antagonist for prostate cancer patients [8][11] - The acquisition is subject to due diligence and regulatory approvals, with no guarantees on the completion of the transaction [11] Company Overview - Medicus Pharma Ltd. is focused on accelerating the clinical development of novel therapeutics and has a subsidiary, SkinJect Inc., dedicated to non-invasive treatments for basal cell skin cancer [9][10]

Financial Performance - The Company reported a net loss and comprehensive loss of $5,102,408 for the three months ended March 31, 2025, compared to a loss of $1,707,358 for the same period in 2024, representing an increase of $3,395,050[91]. - Total operating expenses for the three months ended March 31, 2025, were $5,126,274, an increase of $3,418,916 from $1,707,358 in the prior year[91]. - The Company incurred general and administrative expenses of $3,120,060 for the three months ended March 31, 2025, an increase of $1,734,079 from the prior year[91]. - Cash used in operating activities for Q1 2025 was $3,940,994, an increase of $2,764,061 compared to $1,176,933 in Q1 2024, primarily due to increased R&D expenses[117][118]. - The Company has an accumulated deficit of $34,006,311 as of March 31, 2025[109]. - The Company does not expect to generate positive cash flow from operations in the foreseeable future due to ongoing R&D expenses[111]. Research and Development - Research and development expenses increased by $1,684,837 for the three months ended March 31, 2025, primarily due to costs related to the SKNJCT-003 study[101]. - The Company expects significant increases in R&D expenses as it continues with the SKNJCT-003 study and trials[103]. - The Company has randomized more than 50% of the 60 patients expected to be enrolled in the SKNJCT-003 study as of March 20, 2025[102]. Capital and Financing - The Company completed an Initial Public Offering (IPO) on November 14, 2024, raising total gross proceeds of $4,002,705[89]. - The Company closed a Regulation A Offering of 1,490,000 units, generating total gross proceeds of $4,172,000[110]. - Cash provided by financing activities in Q1 2025 was $3,759,101, resulting from the issuance of common shares and warrants[119]. - The Company has entered into a Standby Equity Purchase Agreement allowing it to sell up to $15,000,000 of common shares over 36 months[112]. - The total number of common shares issuable under the Standby Equity Purchase Agreement is limited to 19.99% of the outstanding common shares[115]. Share Structure - The Share Consolidation was completed on October 28, 2024, reducing the number of issued and outstanding common shares from 21,693,560 to 10,846,721 at a ratio of 1-for-2[87]. - As of March 31, 2025, the Company had 13,417,561 common shares issued and outstanding, with an additional 3,788,260 shares issuable upon the exercise of stock options and warrants[128]. Cash Position - As of March 31, 2025, the Company had cash and cash equivalents of $3,982,430, down from $4,164,323 as of December 31, 2024[109]. - Cash at the end of Q1 2025 was $3,982,430, a decrease of $181,893 from the previous quarter[117]. Other Information - The Company has not entered into any off-balance sheet arrangements as of March 31, 2025[121]. - Stock-based compensation expenses are recorded based on the estimated grant-date fair value of awards, with management estimating the number of options that will vest[127].

Core Viewpoint - Medicus Pharma Ltd. is acquiring Antev, a clinical-stage biotech company, to enhance its portfolio with Teverelix, a potential first-in-class therapy for cardiovascular high-risk prostate cancer patients and those experiencing acute urinary retention [1][3]. Group 1: Acquisition Details - Medicus will acquire all of Antev's issued shares in exchange for 2.67 million shares, representing approximately 19% of Medicus [2]. - Antev shareholders may receive up to $65 million in contingent consideration based on future FDA approvals [2]. - The transaction is expected to close before the end of June [2]. Group 2: Market Potential and Strategic Fit - Teverelix targets an estimated $2 billion addressable U.S. market for acute urinary retention, with no approved drugs currently available for recurrence [3]. - The acquisition aligns with Medicus' strategy, as it does not overlap with existing programs and could add significant value if Teverelix progresses smoothly into Phase 3 trials [4]. Group 3: Clinical Study Updates - Medicus announced a positive interim analysis for the SKNJCT-003 Phase 2 clinical study for treating basal cell carcinoma, showing over 60% complete clinical clearance among subjects [5]. - The investigational product D-MNA was well tolerated across both low and high-dose groups, with no dose-limiting toxicities or serious adverse events reported [5]. - The company plans to submit the interim analysis to the FDA as part of a package for a Type C meeting in Q2 2025 [6]. Group 4: Stock Performance - Following the news, MDCX stock increased by 15.8%, reaching $5.31 [6].

Financial Performance - The Company reported a net loss of $11,155,516 for the year ended December 31, 2024, compared to a net loss of $5,314,765 in 2023, representing a 109% increase in net loss [431]. - Total operating expenses for 2024 were $11,180,902, a significant increase of 136% from $4,729,945 in 2023 [431]. - Cash used in operating activities for the year ended December 31, 2024, was $10,247,231, up from $4,158,264 in 2023, primarily due to increased R&D and administrative expenses [457]. - The Company has an accumulated deficit of $28,903,903 as of December 31, 2024, compared to $17,698,387 as of December 31, 2023 [448]. - The Company does not expect to generate positive cash flow from operations in the foreseeable future due to ongoing R&D expenses [450]. Research and Development - Research and development expenses surged to $3,527,786 in 2024, up 1722% from $193,578 in 2023, primarily due to costs associated with the SKNJCT-003 study [431][441]. - The Company anticipates a substantial increase in R&D expenses as it continues with the SKNJCT-003 study and trials [442]. - As of December 2024, the Company had enrolled over 25% of the 60 expected patients in the SKNJCT-003 clinical trial [425]. Financing Activities - The Company completed an Initial Public Offering (IPO) on November 14, 2024, raising total gross proceeds of $4,002,705 [428][429]. - The Company issued $5,172,500 in unsecured convertible notes due 2025 on May 3, 2024, to support its operations [420]. - The Company raised $5,172,500 from convertible notes and $5,470,000 from common shares in a private placement during the year ended December 31, 2024 [448]. - The Company closed a Regulation A Offering on March 10, 2025, raising total gross proceeds of $4,172,000 by issuing 1,490,000 units at $2.80 each [449]. - The Company has entered into a Standby Equity Purchase Agreement allowing it to sell up to $15,000,000 of common shares over 36 months [452]. - Cash flows provided by financing activities for the year ended December 31, 2024, were $12,692,216, compared to $5,609,950 in 2023 [458]. Shareholder Information - The Share Consolidation completed on October 28, 2024, reduced the number of issued and outstanding common shares from 21,693,560 to 10,846,721 at a 1-for-2 ratio [426][427]. - As of December 31, 2024, the Company had 11,816,721 common shares issued and outstanding, with additional shares issuable upon the exercise of stock options and warrants [468]. Income and Expenses - General and administrative expenses increased to $7,653,116 in 2024, a rise of 69% from $4,536,367 in 2023, driven by higher professional and consulting fees [431][432]. - Finance income for 2024 was $25,386, a turnaround from a net finance expense of $584,820 in 2023, primarily due to interest income on short-term investments [444].