Company: MDCXW
Filing Date: 2025-05-27
Form Type: S-1
Source: 0001062993-25-010394
Chunk: 209

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-27
Form: S-1
Chunk 209
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 been filed. Each statement in this prospectus relating to a document filed as an exhibit is qualified in all respects by the filed exhibit. You should read this prospectus and the documents that we have filed as exhibits to the registration statement of which this prospectus is a part completely. The SEC maintains an internet site at www.sec.gov, from which you can electronically access the registration statement and its exhibits.

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INDEX TO FINANCIAL STATEMENTS</div>

| Audited Financial Statements of Medicus Pharma Ltd. for the years ended December 31, 2024 and 2023     | Page |
|:-------------------------------------------------------------------------------------------------------|:-----|
| Report of Independent Registered Public Accounting Firm (PCAOB ID #274)                                | F-3  |
| Report of Independent Registered Public Accounting Firm (PCAOB ID #1930)                               | F-4  |
| Consolidated Financial Statements                                                                      | F-5  |
| Consolidated Balance Sheets                                                                            | F-6  |
| Consolidated Statements of Operations and Comprehensive Loss                                           | F-7  |
| Consolidated Statements of Changes in Shareholders' Equity                                             | F-8  |
| Consolidated Statements of Cash Flows                                                                  | F-9  |
| Interim Financial Statements of Medicus Pharma Ltd. for the three months ended March 31, 2025 and 2024 |      |
| Condensed Consolidated Balance Sheets                                                                  | F-25 |
| Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)                     | F-26 |
| Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited)                       | F-27 |
| Condensed Consolidated Statements of Cash Flows (Unaudited)                                            | F-28 |

<div align='center'>F-1</div>

Medicus Pharma Ltd.
Consolidated Financial Statements

For the years ended December 31, 2024 and 2023
(expressed in United States dollars, except number of shares)

<div align='center'>F-2</div>

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholders of
Medicus Pharma Ltd. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheet of Medicus Pharma Ltd. and Subsidiaries (the “Company”) as of December 31, 2024, and the related consolidated statements of operations and comprehensive loss, shareholders’ equity, and cash flows for