Company: MDCXW
Filing Date: 2025-12-30
Form Type: S-3
Source: 0001062993-25-017488
Chunk: 20

Company: Medicus Pharma Ltd.
Filing Date: 2025-12-30
Form: S-3
Chunk 20
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. You should not assume that the information in this prospectus, any applicable prospectus supplement, any free writing prospectus that we authorize, any pricing supplement or any documents incorporated by reference is accurate as of any date other than the date of the applicable document.

Any statement contained in a document incorporated or deemed to be incorporated by reference into this prospectus will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus, any applicable prospectus supplement or any other subsequently filed document that is deemed to be incorporated by reference into this prospectus modifies or supersedes the statement. Any statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of this prospectus.

<div align='center'>22

$100,000,000

Common Shares

Preferred Shares

Subscription Rights

Units

Warrants

PROSPECTUS</div>

The information in this prospectus supplement is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus supplement is not an offer to sell these securities, and we are not soliciting an offer to buy these securities, in any jurisdiction where the offer or sale is not permitted.

<div align='center'>Subject to completion, dated December 29, 2025</div>

PROSPECTUS

<div align='center'>Up to $15,349,674

Common Shares</div>

We have entered into an At the Market Offering Sales Agreement dated as of December 29, 2025 (the “sales agreement”) with Maxim Group LLC (“Maxim”) and Yorkville Securities, LLC (“Yorkville”) (each of Maxim and Yorkville individually an “Agent” and together, the “Agents”) relating to the sale of our common shares, no par value (the “common shares”), offered by this prospectus supplement. In accordance with the terms of the sales agreement, we may offer and sell our common shares having an aggregate offering price of up to $15,349,674 from time to time through the Agents acting as sales agents and/or principals.

Sales of our common shares, if any, under this prospectus supplement will be made in sales deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on or through the Nasdaq Capital Market (“Nas