Company: MDCXW
Filing Date: 2025-09-19
Form Type: DRS
Source: 0001062993-25-015719
Chunk: 247

Company: Medicus Pharma Ltd.
Filing Date: 2025-09-19
Form: DRS
Chunk 247
---
31, 2023, there were $565,986 and $335,812 of unrecognized stock-based compensation cost related to share options outstanding, which is expected to be recognized over a weighted-average period of 2.25 and 4.82 years, respectively.

For the years ended December 31, 2024 and 2023, stock-based compensation expense was $713,119 and $98,585, respectively. Stock-based compensation expense has been reported in the Company's consolidated statements of operations and comprehensive loss within the line items 'general and administrative' and 'research and development' expenses.

<div align='center'>F-19

CONFIDENTIAL TREATMENT REQUESTED BY MEDICUS PHARMA LTD.PURSUANT TO 17 C.F.R. SECTION 200.83</div>

The following table presents the assumptions that were used in the Black-Scholes option pricing model to determine the fair value of share options granted during the period:

|                          |     |          2024 |     |    2023 |
| Expected dividend yield  |     |             - |     |       - |
| Risk-free interest rate  |     | 2.95% - 4.24% |     |   4.24% |
| Expected term (in years) |     |       5 years |     | 5 years |
| Expected volatility      |     |    95% - 100% |     |  93.10% |

The expected volatility is based on the share price volatility observed for comparable publicly traded companies over a period similar to the life of the options. The expected option life represents the period of time that options granted are expected to be outstanding. The risk-free interest rate is based on Canadian government bonds with a remaining term equal to the expected life of the options.

8. Net loss per share

Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows:

|                                                                      |   | Year ended December 31, 
                    2024 |   |   |       2023 |   |
|:---------------------------------------------------------------------|:--|------------------------:|:--|:--|-----------:|:--|
| Net loss attributable to shareholders                                | $ |             (11,155,516 | ) | $ | (5,314,765 | ) |
| Weighted average number of common shares outstanding during the year |   |               9,619,184 |   |   |  3,