Company: MDCXW
Filing Date: 2025-09-29
Form Type: S-1
Source: 0001062993-25-015839
Chunk: 253

Company: Medicus Pharma Ltd.
Filing Date: 2025-09-29
Form: S-1
Chunk 253
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             |   |   |              |   |
| Shareholders' equity                                                                                                                                                   |   |             |   |   |              |   |
| Common shares, no par value; unlimited shares authorized; 15,936,266 and 11,816,721 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively |   |  37,833,999 |   |   |   30,518,195 |   |
| Additional paid-in capital                                                                                                                                             |   |   5,597,106 |   |   |    1,520,412 |   |
| Accumulated deficit                                                                                                                                                    |   | (40,182,395 | ) |   |  (28,903,903 | ) |
| Total shareholders' equity                                                                                                                                             |   |   3,248,710 |   |   |    3,134,704 |   |
| Total liabilities and shareholders' equity                                                                                                                             | $ |  11,934,628 |   | $ |    5,646,878 |   |

<div align='center'>The accompanying notes are an integral part of the unaudited condensed financial statements.

F-25

MEDICUS PHARMA LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(UNAUDITED)</div>

| Operating expenses:                                                        |   | Three months ended June 30, 
                        2025 |   |   |       2024 |   |   | Six months ended June 30, 
                      2025 |   |     |       2024 |   |
|:---------------------------------------------------------------------------|:--|----------------------------:|:--|:--|-----------:|:--|:--|--------------------------:|:--|:----|-----------:|:--|
| General and administrative                                                 | $ |                   4,576,524 |   | $ |  2,276,676 |   | $ |                 7,696,584 |   |     |  3,662,657 |   |
| Research and development                                                   |   |                   1,439,564 |   |   |  1,277,158 |   |   |                 3,445,778 |   |     |  1,598,535 |   |
| Total operating expenses                                                   |   |                   6,016,088