Company: MDCXW
Filing Date: 2025-09-29
Form Type: S-1
Source: 0001062993-25-015839
Chunk: 262

Company: Medicus Pharma Ltd.
Filing Date: 2025-09-29
Form: S-1
Chunk 262
---
bt-Debt with Conversion and Other Options (Subtopic 470-20: Induced Conversions of Convertible Debt Instruments", to improve consistency and relevance of accounting for induced conversions of convertible debt instruments and it addresses scenarios involving convertible debt instruments and cash conversion features and those not currently convertible. ASU 2024-04 is effective for our annual period beginning January 1, 2026, with early adoption permitted for entities that adopted the amendment in ASU 2020-06. We are currently evaluating the potential effect that the updated standard will have on our financial statement disclosures.

There were no other significant updates to the recently issued accounting standards which may be applicable to the Company. Although there are several other new accounting pronouncements issued or proposed by the FASB, the Company does not believe any of those accounting pronouncements have had or will have a material impact on its financial position or operating results.

3.Balance sheet components

Prepaid expenses and other current assets include the following:

|                                 |   | June 30, 2025 |     |   | December 31, 2024 |
|:--------------------------------|:--|--------------:|:----|:--|------------------:|
|                                 |   |    -Unaudited |     |   |                   |
| Insurance                       | $ |       244,105 |     | $ |           583,561 |
| Contract research organizations |   |       375,810 |     |   |           455,810 |
| Professional services           |   |       659,387 |     |   |           144,643 |
| Prepaid services                |   |        47,883 |     |   |            29,970 |
|                                 | $ |     1,327,185 |     | $ |         1,213,984 |

<div align='center'>F-33</div>

Accrued expenses and other current liabilities include the following:

|                                   |   | June 30, 2025 |     |   | December 31, 2024 |
|:----------------------------------|:--|--------------:|:----|:--|------------------:|
|                                   |   |    -Unaudited |     |   |                   |
| Accrued legal fees                | $ |     1,040,620 |     | $ |           495,016 |
| Accrued compensation and benefits |   |       421,294 |     |