Company: MDCXW
Filing Date: 2025-09-19
Form Type: DRS
Source: 0001062993-25-015719
Chunk: 254

Company: Medicus Pharma Ltd.
Filing Date: 2025-09-19
Form: DRS
Chunk 254
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250 |     |   |    134,538 |     |   | (19,455,745 | ) |     |   |   (559,957 | ) |
| Conversion of debt                             |        |     1,307,798 |     |        |  5,210,962 |     |   |          - |     |   | -           |   |     |   |  5,210,962 |   |
| Issuance of common shares                      |        |     1,461,250 |     |        |  5,470,000 |     |   |          - |     |   | -           |   |     |   |  5,470,000 |   |
| Stock-based compensation                       |        |             - |     |        |          - |     |   |    585,442 |     |   | -           |   |     |   |    585,442 |   |
| Net loss and comprehensive loss for the period |        |             - |     |        |          - |     |   |          - |     |   | (3,632,859  | ) |     |   | (3,632,859 | ) |
| Balance as of June 30, 2024                    |        |    10,846,721 |     | $      | 29,442,212 |     | $ |    719,980 |     | $ | (23,088,604 | ) |     | $ |  7,073,588 |   |

<div align='center'>The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

F-28

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

MEDICUS PHARMA LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)</div>

| Cash flows from operating activities:                                       |   | Six months ended June 30, 
                      2025 |   |     |   |       2024 |   |
|:----------------------------------------------------------------------------|:--|--------------------------:|:--|:----|:--|-----------:|:--|
| Net loss for the period                                                     | $ |               (11,278,492 | ) |     | $ | (5,