Company: MDCXW
Filing Date: 2025-11-19
Form Type: S-1
Source: 0001062993-25-016962
Chunk: 264

Company: Medicus Pharma Ltd.
Filing Date: 2025-11-19
Form: S-1
Chunk 264
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 satisfying the requirements of the screen test in accordance with the criteria under ASC 805-10-55-5C. As the common shares issued by the Company are subject to lock-up restrictions, a discount of 21.4394% was applied to the quoted closing price of the Company's shares ($1.94) to determine the fair value of the Company's common share. This resulted in a fair value of $1.52 per share, reflecting a discount of $0.42 per share.

The following is a summary of the consideration paid:

| Fair value of 1,603,164 common shares                  | $ | 2,443,344 |
| Cash paid                                              |   | 2,970,166 |
| Transaction expenses                                   |   | 1,992,798 |
| Contingent consideration                               |   |       Nil |
| Total fair value consideration                         |   | 7,406,308 |
| Fair value of non-controlling interest                 |   |   105,161 |
| Total fair value for allocation to net assets of Antev |   | 7,511,469 |

Due to the nature of the regulatory, sales and financing-based milestones, the contingent consideration was not included in the initial cost of assets acquired as they are contingent upon events that are outside the Company's control. Contingent consideration will recognized when it becomes probable that the milestone conditions will be met and the amount can be estimated. As of September 30, 2025, none of the contingent events had occurred, nor were the milestone conditions considered probable to be met.

The allocation of Antev's net assets acquired was as follows:

| Cash                               | $ |     13,353 |   |
| Assets                             |   |    224,719 |   |
| Accrued and other accounts payable |   | (1,327,429 | ) |
| Other liabilities                  |   |   (116,649 | ) |
| IPR&D - Teverelix                  |   |  8,717,475 |   |
| Net assets acquired                | $ |  7,511,469 |   |

All costs allocated to IPR&D by the Company were recognized as research and development expenses in the Company's condensed consolidated statement of operations and comprehensive loss as these assets had no alternative future use at the time of the acquisition transaction.

<div align='center'>F-43</div>

13. Liquidity

The Company expects to continue to incur significant operating losses