Company: MDCXW
Filing Date: 2025-05-30
Form Type: 424B4
Source: 0001062993-25-010548
Chunk: 81

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-30
Form: 424B4
Chunk 81
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 common shares under the SEPA is subject to further limitations, including that the common shares beneficially owned by the Investor and its affiliates at any one time will not exceed 4.99% of the then-outstanding common shares.

Common shares issued and sold to the Investor under the SEPA will be priced at 97% of the market price (as defined in the SEPA) of the common shares during a specified three-day pricing period. The Company reserves the right to set a minimum acceptable price for the common share issuances.

|                                       |     |            |   |     | For the three months ended March 31, |   |
|                                       |     |       2025 
          $ |   |     |                                 2024 
                                    $ |   |
| Cash used in operating activities     |     | (3,940,994 | ) |     |                           (1,176,933 | ) |
| Cash provided by financing activities |     |  3,759,101 |   |     |                                    - |   |
| Net change in cash during the year    |     |   (181,893 | ) |     |                           (1,176,933 | ) |
| Cash, beginning of the year           |     |  4,164,323 |   |     |                            1,719,338 |   |
| Cash, end of the year                 |     |  3,982,430 |   |     |                              542,405 |   |

Cash flows used in operating activities

Cash flows used in operating activities for the three months ended March 31, 2025 were $3,940,994 compared to cash flows used in operating activities of $1,176,933 for the three months ended March 31, 2024. The increase is primarily due to increased spending on research and development activities for our SKNJCT-003 study and trials and increased general and administrative expenses related to our recent initial public offering and resulting U.S. reporting obligations.

Cash flows provided by financing activities

Cash flows provided by financing activities for the three months ended March 31, 2025, were $3,759,101 due to proceeds from issuance of common shares and warrants, net of offering costs from the Regulation A Offering. The Company did not have any financing activities for the three months ended March 31, 2024.

|                                       |     | For the year ended December 31, 
                            2024 
                               $ |