Company: MDCXW
Filing Date: 2025-04-25
Form Type: DRS
Source: 0001062993-25-007956
Chunk: 2

Company: Medicus Pharma Ltd.
Filing Date: 2025-04-25
Form: DRS
Chunk 2
---
 may determine.

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

The information in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the Registration Statement filed with the U.S. Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

<div align='center'>Subject to Completion,
dated April 24, 2025</div>

Preliminary
Prospectus

<div align='center'>2,550,000 Units

Consisting of an Aggregate of

2,550,000 Common Shares

and

2,550,000 Warrants to Purchase One Common Share

2,550,000 Common Shares Issuable upon the Exercise of the Warrants

Medicus Pharma Ltd.</div>

We are offering on a “best efforts” basis 2,550,000 units (each, a "Unit"), each Unit consisting of one common share of Medicus Pharma Ltd. (the "Company", "we", "us"), no par value, and one warrant to purchase one common share (each, a "warrant") at an assumed public offering price of $3.92 per Unit, which was the closing price our common shares on The Nasdaq Capital Market (“Nasdaq”) on April 23, 2025, for an aggregate offering of 2,550,000 common shares and 2,550,000 warrants and gross proceeds of up to approximately $10 million. The public offering price per Unit will be determined between us and the agent (as defined below) based on market conditions at the time of pricing, and may be at a discount to the then-current market price of our common shares. Therefore, the recent market price of our common shares referenced throughout this preliminary prospectus may not be indicative of the final offering price per Unit. Each warrant is immediately exercisable for one of our common shares at an exercise price of $ per share (or 100% of the price of each Unit sold in the offering) and will expire five years from the date of issuance. The Units will not be certificated and the common shares and warrants comprising the Units are immediately separable and will be issued separately in this offering. Pursuant to this prospectus, we are also offering the 2,550