Company: MDCXW
Filing Date: 2025-05-30
Form Type: 424B3
Source: 0001062993-25-010580
Chunk: 75

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-30
Form: 424B3
Chunk 75
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684,837 for the three months ended March 31, 2025, compared to the equivalent periods in the prior year. This increase is primarily due to costs incurred related to SKNJCT-003 which had minimal activity during the three months ended March 31, 2024.

As of March 20, 2025, the Company has commenced activating its clinical trial sites and has randomized more than 50% of the 60 patients expected to be enrolled in the study. Subsequent to March 31, 2025, the Company announced on April 21, 2025 that the Institutional Review Board approved the increase in the number of patients in the study from 60 to 90, that the clinical study will expand from the nine clinical sites in the United States to include an additional site in the United States and two clinical trial sites in Europe and that the Company has randomized more than 45 participants in the study.

We expect our R&D expenses to increase substantially for the foreseeable future as we continue with the SKNJCT-003 study and trials.

The principal risks related to the Company's future performance are that the trials are unsuccessful, the Company does not receive FDA approval to proceed with the next stage of its research and development, or the Company is unsuccessful in obtaining future funding needed to continue its research and development. These are customary risks for a development stage pharmaceutical Company and are less acute than for a Company with a less advanced product. Nevertheless, there can be no assurance that the Company will be able to complete its trials of the MNA, that the trials will be successful, or that the product will ultimately reach commercialization.

Other income:

Finance income was $23,866 and $0 for the three months ending March 31, 2025 and 2024, respectively. Finance income for the three months ended March 31, 2025 relates to interest income earned on short-term money market investments.

The following table outlines our statements of loss and comprehensive loss for the years ended December 31, 2024 and 2023:

|                                               |     | Years ended December 31, |   |     |            |   |     |            |   |
|                                               |     |                     2024 
                        $ |   |     |       2023 
          $ |   |     |     Change |   |
| General and administrative                    |     |                7,653,116 |   |     |  4,536,367 |   |     |  3