Company: MDCXW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001062993-25-009125
Chunk: 86

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 Company completed the sale of 970,000 Units, with each Unit consisting of one common share and one warrant ("Public Warrant") to purchase one common share at the price of $4.125 per Unit. In addition, the underwriters exercised an option to purchase 145,500 Public Warrants (the "Overallotment Warrants") at a price of $0.01 per warrant.

Total gross proceeds from the IPO were $4,002,705, including the proceeds from the Overallotment Warrants. The Company incurred total issuance costs of $2,128,014, including underwriter fees, and legal and other professional fees incurred directly related to the issuance.

Regulation A Offering

On March 10, 2025, the Company completed an offering of 1,490,000 units at $2.80 per unit pursuant to Tier II of Regulation A under the Securities Act, with each unit consisting of one common share and one warrant ("Regulation A Warrant") to purchase one common share. The Regulation A Warrants have an exercise price of $2.80 and expire on March 10, 2030. The aggregate gross proceeds to the Company from the Offering were $4,172,000. As of March 31, 2025, 5,000 of the 1,490,000 Regulation A Warrants have been exercised for cash, for proceeds to the Company of $14,000 (the "Regulation A financing"). 

Results of Operations

The following table outlines our statements of loss and comprehensive loss for the three months ended March 31, 2025 and 2024:

  Three months ended March 31,      2025  2024      $  $  Change  General and administrative 3,120,060  1,385,981  1,734,079 Research and development 2,006,214  321,377  1,684,837 Total operating expenses 5,126,274  1,707,358  3,418,916 Loss from operations (5,126,274) (1,707,358) (3,418,916)Other income :         Finance income, net 23,866  -  23,866 Total other income  23,866  -  23,866 Net loss and comprehensive loss (5,102,