Company: MDCXW
Filing Date: 2025-11-19
Form Type: S-1
Source: 0001062993-25-016962
Chunk: 87

Company: Medicus Pharma Ltd.
Filing Date: 2025-11-19
Form: S-1
Chunk 87
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,338 |   |     |  2,444,985 |   |
| Cash, end of the period               |     |   8,662,091 |   |     |                              5,306,159 |   |     |  3,355,932 |   |

Cash flows used in operating activities

Cash flows used in operating activities for the nine months ended September 30, 2025 were $16,167,654 compared to cash flows used in operating activities of $7,055,679 for the nine months ended September 30, 2024. The increase is primarily due to increased spending on research and development activities for our SKNJCT-003 study and trials and increased general and administrative expenses related to our IPO and resulting U.S. reporting obligations, along with multiple financing and other transactional activities.

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Cash flows provided by financing activities

Cash flows provided by financing activities for the nine months ended September 30, 2025 were $25,286,315 due to $9,790,015 of proceeds from issuance of common shares and warrants and $5,097,005 from the issuance of shares under the SEPA, in each case net of offering costs, gross proceeds of $11,866,293 from the issuance of the Debentures, as well as proceeds of $4,729,398 from the exercises of warrants and $162,500 from the exercises of options, less $5,637,709 of expenses incurred in connection with the repayment of the Debentures less equity issuance costs of $584,361 Cash flows provided by financing activities for the nine months ended September 30, 2024 were $10,642,500 consisting of $5,172,500 of proceeds from issuance of convertible notes and $5,470,000 of proceeds from issuance of common shares and warrants.

|                                       |     | For the year ended December 31, 
                            2024 
                               $ |   |     |       2023 
          $ |   |
|:--------------------------------------|:----|--------------------------------:|:--|:----|-----------:|:--|
| Cash used in operating activities     |     |                     (10,247,231 | ) |     | (4,158,264 | ) |
| Cash provided by financing activities |     |                      12,692,216 |   |     |  5,609,950 |   |
| Net change in