Company: MDCXW
Filing Date: 2025-11-17
Form Type: 424B3
Source: 0001062993-25-016876
Chunk: 12

Company: Medicus Pharma Ltd.
Filing Date: 2025-11-17
Form: 424B3
Chunk 12
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     |   725,000 |   |     |           3.04 |     |             4.18 |     |               - |

As of September 30, 2025, there were $1,362,894 of unrecognized stock-based compensation cost related to share options outstanding, which is expected to be recognized over a weighted-average period of 0.81 years. 14 The weighted average grant date fair value of awards for options granted during the nine months ended September 30, 2025 was $2.28. The fair value of options granted was estimated using the Black-Scholes option pricing model, resulting in the following weighted average assumptions for the options granted:

|                        |   | September 30, 2025 |
|:-----------------------|:--|-------------------:|
|                        |   |   Weighted-average |
| Exercise price         | $ |               2.99 |
| Share price            | $ |               2.99 |
| Dividend               |   |                  - |
| Risk-free interest     |   |              3.89% |
| Estimated life (years) |   |               5.01 |
| Expected volatility    |   |             94.61% |

For the three and nine months ended September 30, 2025, stock-based compensation expense was $852,757 and $1,082,482, respectively. For the three and nine months ended September 30, 2024, stock-based compensation expense was $nil and $621,395, respectively. Stock-based compensation expense has been reported in the Company's condensed consolidated statements of operations and comprehensive loss within general and administrative expenses.

7. Related party transactions On October 18, 2023, the Company signed an agreement with RBx Capital, LP ("RBx"), a family office controlled by the Company's Executive Chairman and CEO, that provides for certain managerial positions to be filled from within RBx. RBx is responsible for the payment and provision of all wages, bonuses, and benefits for these positions. Reimbursable salaries paid to RBx pursuant to this agreement are $125,000 per month. In December 2024, reimbursable salaries were changed to $100,000 per month. Reimbursable salaries paid to RBx were $300,000 and $375,000 during the three months ended September 30, 2025 and 2024, respectively. Reimbursable salaries paid to RBx were $