Company: MDCXW
Filing Date: 2025-05-30
Form Type: 424B4
Source: 0001062993-25-010548
Chunk: 233

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-30
Form: 424B4
Chunk 233
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719,338 |   |
| Cash and cash equivalents, end of the year                                               | $ |                    3,982,430 |   | $ |    542,405 |   |
| Supplemental disclosure of non-cash investing and financing activities                   |   |                              |   |   |            |   |
| Right-of-use assets obtained in exchange for lease liabilities                           | $ |                            - |   | $ |    356,805 |   |
| Receivable for proceeds of warrant exercises                                             | $ |                       14,000 |   | $ |          - |   |
| Issuance costs included in accounts payable                                              | $ |                       95,120 |   | $ |          - |   |
| Deferred issuance costs on issued shares related to SEPA agreement                       | $ |                      300,000 |   | $ |            |   |

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

<div align='center'>F-28

MEDICUS PHARMA LTD.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)</div>

1. Description of business

Medicus Pharma Ltd. (the "Company" or "Medicus Pharma"), formerly Interactive Capital Partners Corporation ("Interactive"), is a clinical stage, multi-strategy holding company focused on investing in and accelerating novel life sciences and bio-technology companies through FDA approved clinical trials.

The Company is a public limited Company originally incorporated pursuant to the provisions of the Business Corporations Act (Ontario) on April 30, 2008, as a private company named Interactive Capital Partners Corporation, with nominal assets and liabilities. The Company's registered office is located at 100 King Street West, Suite 3400, One First Canadian Place, Toronto, Ontario, Canada.

Liquidity and Going Concern

The Company has incurred significant operating losses and cash outflows from operating activities since its inception. The Company incurred net losses of $5,102,408 and $1,707,358 for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, the Company had an accumulated deficit of $34,006,311. Since inception, the Company has funded its operations primarily through equity and debt financings.

On February 10, 2025, the Company announced that it had entered into the SEPA (as defined below). Subject to the satisfaction of certain