Company: MDCXW
Filing Date: 2025-12-10
Form Type: DRS
Source: 0001062993-25-017281
Chunk: 41

Company: Medicus Pharma Ltd.
Filing Date: 2025-12-10
Form: DRS
Chunk 41
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The foregoing table is based on 32,780,058 common shares outstanding as of December 9, 2025, and, excludes, as of that date, the following:

<div align='center'>S-17

CONFIDENTIAL TREATMENT REQUESTED BY MEDICUS PHARMA LTD.PURSUANT TO 17 C.F.R. SECTION 200.83</div>

To the extent that any outstanding warrants or options are exercised, new options or other equity awards are issued under our equity incentive plan, or we issue additional common shares in the future, there will be further dilution to new investors participating in this offering. In addition, we may choose to raise additional capital due to market conditions or strategic considerations. To the extent that additional capital is raised through the sale of securities, the issuance of those securities could result in further dilution to our shareholders.

<div align='center'>S-18

CONFIDENTIAL TREATMENT REQUESTED BY MEDICUS PHARMA LTD.PURSUANT TO 17 C.F.R. SECTION 200.83

PLAN OF DISTRIBUTION</div>

We have entered into the sales agreement, dated as of , 2025, with Maxim, under which we may issue and sell our common shares having an aggregate offering price of up to $16,714,107 from time to time through Maxim acting as our sales agent. In no event will the actual number of common shares offered and sold by us pursuant to the sales agreement exceed the number of shares that we have available and authorized for issuance under our certificate of incorporation.

The sales agreement provides that sales of our common shares, if any, under this prospectus supplement may be made in sales deemed to be "at-the-market" equity offerings as defined in Rule 415(a)(4) promulgated under the Securities Act including sales made directly on or through Nasdaq, the existing trading market for our common shares, or any other existing trading market in the Unites States for our common shares, sales made to or through a market maker other than on an exchange or otherwise, directly to Maxim as principal, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices, and/or in any other method permitted by law.

Maxim will offer our common shares at prevailing market prices subject to the terms and conditions of the sales agreement as agreed upon by us and Maxim. We will designate the number of shares which we desire to sell, the time period during which sales are requested to