Company: MDCXW
Filing Date: 2025-06-06
Form Type: 424B3
Source: 0001062993-25-011087
Chunk: 3

Company: Medicus Pharma Ltd.
Filing Date: 2025-06-06
Form: 424B3
Chunk 3
---
 Item 9A of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission (the "Commission") on March 28, 2025 and during the Company's fiscal quarter ended March 31, 2025, as disclosed in Part I, Item 4 of the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, as filed with the Commission on May 12, 2025. The material weaknesses related to (i) lack of degree of precision in the review of materials used to record transactions in accordance with U.S. generally accepted accounting principles and (ii) lack of formalized or documented policies related to the overall information technology ("IT") system environment, including IT security and cybersecurity, centrally managed security patches and antivirus/malware protection, and user access. The material weaknesses identified did not result in the restatement of any previously reported financial statements or any related financial disclosure, nor did management believe that it had any effect on the accuracy of the Company's financial statements for the reporting periods ended December 31, 2024 and March 31, 2025. This reportable event was discussed among the Company's management, the Audit Committee, and EisnerAmper. EisnerAmper has been authorized by the Company to respond fully to the inquiries of KPMG LLP ("KPMG"), the successor accountant, concerning this reportable event. The Company provided EisnerAmper with a copy of the disclosures in this Current Report on Form 8-K prior to its filing with the Commission and requested EisnerAmper furnish it a letter addressed to the Commission stating whether it agrees with the above statements. A copy of that letter, dated June 5, 2025, is filed as Exhibit 16.1 to this Current Report on Form 8-K. Engagement of Independent Registered Public Accounting Firm On June 4, 2025, in connection with the Company's dismissal of EisnerAmper, the Board approved the engagement of KPMG as its new independent registered public accounting firm to audit the Company's financial statements for the year ending December 31, 2025. The decision to retain KPMG was recommended by the Audit Committee, and approved by the Board, after taking into account the results of a comprehensive review process and other business factors.

During the two most recent fiscal years and in the subsequent interim period through June 4,