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]
Medicus Pharma Ltd. Announces Pricing of $7.0 Million Public Offering