Company: MDCXW
Filing Date: 2025-05-30
Form Type: 424B3
Source: 0001062993-25-010580
Chunk: 227

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-30
Form: 424B3
Chunk 227
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, 2024 was C$2.36. As of December 31, 2024 and December 31, 2023, there were $565,986 and $335,812 of unrecognized stock-based compensation cost related to share options outstanding, which is expected to be recognized over a weighted-average period of 2.25 and 4.82 years, respectively. For the years ended December 31, 2024 and 2023, stock-based compensation expense was $713,119 and $98,585, respectively. Stock-based compensation expense has been reported in the Company's consolidated statements of operations and comprehensive loss within the line items 'general and administrative' and 'research and development' expenses. The following table presents the assumptions that were used in the Black-Scholes option pricing model to determine the fair value of share options granted during the period:

|                          |     |          2024 |     |    2023 |
| Expected dividend yield  |     |             - |     |       - |
| Risk-free interest rate  |     | 2.95% - 4.24% |     |   4.24% |
| Expected term (in years) |     |       5 years |     | 5 years |
| Expected volatility      |     |    95% - 100% |     |  93.10% |

The expected volatility is based on the share price volatility observed for comparable publicly traded companies over a period similar to the life of the options. The expected option life represents the period of time that options granted are expected to be outstanding. The risk-free interest rate is based on Canadian government bonds with a remaining term equal to the expected life of the options.

F-19 Medicus Pharma Ltd.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2024 and 2023
[expressed in United States dollars, except share amounts]

8. Net loss per share Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows:

|                                                                      |   | Year ended December 31, |        2024 |   |   |     |       2023 |   |
|:---------------------------------------------------------------------|:--|:------------------------|------------:|:--|:--|:----|-----------:|:--|
| Net loss attributable to shareholders                                | $ |                         | (11,155,516 | ) | $ |     | (5,314,765