Company: MDCXW
Filing Date: 2025-12-10
Form Type: DRS
Source: 0001062993-25-017281
Chunk: 23

Company: Medicus Pharma Ltd.
Filing Date: 2025-12-10
Form: DRS
Chunk 23
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 In connection with the sale of our common shares on our behalf, Maxim will be deemed to be an "underwriter" within the meaning of the Securities Act and the compensation of Maxim will be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to Maxim with respect to certain liabilities, including liabilities under the Securities Act.

Our common shares and public warrants, with an exercise price of $4.64 and expiration date of November 15, 2029 (the "Public Warrants") are listed on Nasdaq under the symbols "MDCX" and "MDCXW", respectively. On December 9, 2025, the closing price of our common shares as reported by Nasdaq was $2.16 per share and the closing price of our Public Warrants as reported by Nasdaq was $1.02 per Public Warrant.

As of December 9, 2025, the aggregate market value of our outstanding common shares held by non-affiliates was approximately $50.1 million, which we calculated based on 25,042,045 outstanding common shares as of December 9, 2025, of which 18,571,230 shares were held by non-affiliates, and a price per share of $2.70, which was the closing price of our common shares on October 24, 2025. We have not offered or sold any securities pursuant to General Instruction I.B.6 of Form S-3 during the prior 12-calendar-month period that ends on and includes the date of this prospectus supplement. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell, pursuant to the registration statement of which this prospectus supplement forms a part, securities with a value exceeding one-third of the aggregate market value of our outstanding common shares held by non-affiliates in any 12-month period, so long as the aggregate market value of our outstanding common shares held by non-affiliates remains below $75.0 million.

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

Investing in our common shares involves a high degree of risk. See "Risk Factors" beginning on page S-12 of this prospectus supplement and under similar headings in the documents incorporated by reference into this prospectus supplement.

Neither the Securities and Exchange Commission (the "