Company: MDCXW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001062993-25-009125
Chunk: 87

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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408) (1,707,738) (3,395,050)Net loss per common share (basic and diluted) (0.42) (0.21)   

18

General and administrative

General and administrative expenses for the three months ended March 31, 2025 and 2024 are comprised of:

  Three months ended March 31,      2025  2024      $  $              Change  Professional fees 1,360,680  438,302  922,378 Consulting fees 284,946  455,814  (170,868)Salaries, wages and benefits 357,517  201,016  156,501 General office, insurance and administration expenditures 539,696  177,810  361,886 Business development and investor relations 464,944  77,086  387,858 Stock-based compensation 112,277  35,953  76,324   3,120,060  1,385,981  1,734,079 

Professional fees increased by $922,378 for the three months ended March 31, 2025, compared to the equivalent period in the prior year. The increase was primarily due to increases in legal and accounting fees related to the Company's operations. Professional fees include fees incurred for legal and accounting services that fluctuate from period to period based on the nature of the transactions the Company undertakes. The primary reason for the increase is due to increased regulatory requirements following the Company's initial public offering and transition to U.S. domestic issuer status.

Consulting fees decreased by $170,968 for the three months ended March 31, 2025, compared to the equivalent period in the prior year. Consulting fees include fees paid to individuals and professional firms who provide advisory services to the Company and fluctuate from period to period based on the nature of the transactions the Company undertakes. The primary reason for the increase is due to decreased business activity in the current year compared to the prior year when the Company was focused on completing the initial public offering.

Salaries, wages and benefits increased by $156,501 for the three months ended March 31, 2025, compared to the equivalent period in the prior year. The increase was primarily due to an increase in headcount from the previous year.

General office, insurance and administration expenditures increased