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].

Financial Performance - The net loss for the nine months ended September 30, 2024, was $8,880,935, compared to a loss of $3,936,284 for the same period in 2023, indicating a 126% increase in losses[7]. - For the three months ended September 30, 2024, the net loss attributable to shareholders was $2,959,216, compared to a net loss of $2,963,692 for the same period in 2023[60]. - The basic and diluted net loss per share attributable to shareholders for the three months ended September 30, 2024, was $(0.31), while it was $(1.47) for the same period in 2023[60]. Assets and Equity - Total assets increased to $5,720,909 as of September 30, 2024, compared to $1,893,057 as of December 31, 2023, representing a growth of 201%[3]. - Shareholders' equity increased to $3,492,104 as of September 30, 2024, from $1,111,448 at the end of 2023, representing a growth of 214%[3]. - Cash and cash equivalents rose to $5,306,159 from $1,719,338, marking an increase of 208%[3]. Expenses - Operating expenses for the nine months ended September 30, 2024, totaled $8,830,197, up from $885,040 in the same period of 2023, reflecting a significant increase of 895%[7]. - Research and development expenses for the nine months ended September 30, 2024, were $2,162,680, compared to $159,083 in 2023, an increase of 1,613%[7]. - General and administrative expenses for the three months ended September 30, 2024, totaled $2,201,911, a significant increase from $186,418 in 2023[61]. Share Capital and Issuance - The company issued 1,461,250 common shares, raising $5,470,000 during the period[10]. - The company issued 1,461,250 common shares on June 28, 2024, as part of a private placement, raising total proceeds of $5,845,000 at $4.00 per share[51]. - As of September 30, 2024, the total number of common shares outstanding increased to 10,846,721, with a total share capital of $30,516,801[50]. - The company's share capital increased to $30,516,801 as of September 30, 2024, from $19,835,839 as of December 31, 2023[69]. Debt and Obligations - The company issued convertible notes amounting to $5,172,500 on May 3, 2024, with a 10% annual interest rate and a maturity date of December 31, 2025[43]. - On June 28, 2024, all convertible note holders converted their notes into 1,308,798 common shares, including $40,563 in cash interest and $38,462 in accrued interest[45]. - The lease obligations increased to $348,971 as of September 30, 2024, with additions of $356,784 and interest accretion of $27,227[40]. - The total undiscounted lease payments payable as of September 30, 2024, amounted to $398,181, with a present value impact of $49,210[42]. Other Financial Information - The company recognized share-based compensation of $580,629 for the nine months ended September 30, 2024, compared to $nil in the previous year[55]. - The company has 887,500 share options outstanding as of September 30, 2024, with a weighted average exercise price of C$1.63[55]. - The company has an obligation to pay an annual license maintenance fee of $5,000 until sales from products under the license occur, with no sales made as of September 30, 2024[63]. - The company recognized $7,720 and $39,689 in annual maintenance and patent legal expenses related to the license agreement during the three and nine months ended September 30, 2024[63]. - The company incurred a listing expense of $2,550,665 related to the reverse takeover transaction completed on September 29, 2023[17]. Cash Flow - The company reported a net change in cash of $3,586,821 during the nine months ended September 30, 2024, compared to $4,840,293 in the same period of 2023[13]. Accounting Standards - The company has not adopted any new accounting standards that would significantly impact its financial statements as of January 1, 2024[33]. Initial Public Offering - On November 15, 2024, the company closed its initial public offering in the United States of 970,000 units at a price of $4.125 per unit[73]. Finance Income and Expense - Finance expense (income), net for the three months ended September 30, 2024, was $(46,531), compared to $186,214 in 2023[62].

As filed with the U.S. Securities and Exchange Commission on October 31, 2024. Registration No. 333-279771 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 9 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MEDICUS PHARMA LTD. (Exact name of Registrant as specified in its charter) ______________________________ Ontario, Canada 2834 98-1778211 (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) Cl ...

As filed with the U.S. Securities and Exchange Commission on October 29, 2024. Registration No. 333-279771 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 8 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MEDICUS PHARMA LTD. (Exact name of Registrant as specified in its charter) ______________________________ Ontario, Canada 2834 98-1778211 Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective dat ...

As filed with the U.S. Securities and Exchange Commission on October 15, 2024. Registration No. 333-279771 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 7 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MEDICUS PHARMA LTD. (Exact name of Registrant as specified in its charter) ______________________________ Ontario, Canada 2834 98-1778211 (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) Cl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 6 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 As filed with the U.S. Securities and Exchange Commission on September 30, 2024. Registration No. 333-279771 Ontario, Canada 2834 98-1778211 (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) Classification Code Number) Identification Number) Suite 3400 - 100 King St W Toronto, ON M5X 1A4, Canada ...

As filed with the U.S. Securities and Exchange Commission on September 26, 2024. Registration No. 333-279771 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 5 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MEDICUS PHARMA LTD. (Exact name of Registrant as specified in its charter) ______________________________ Ontario, Canada 2834 98-1778211 (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) ...

As filed with the U.S. Securities and Exchange Commission on September 23, 2024. Registration No. 333-279771 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 4 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MEDICUS PHARMA LTD. (Exact name of Registrant as specified in its charter) ______________________________ Ontario, Canada 2834 98-1778211 (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) ...