Medicus Pharma Ltd. Debuts on NASDAQ with a Focus on Skin Cancer Treatments

• Medicus Pharma Ltd. (MDCX) successfully launched its IPO on NASDAQ, raising $4 million to fund its Phase 2 trial for basal cell carcinoma treatment.
• The IPO consisted of 970,000 units at $4.125 each, including common shares and warrants, with trading beginning on November 14, 2024.
• Despite a successful IPO, MDCX's stock price has decreased to $2.09, reflecting a drop of 6.70% or $0.15.

Medicus Pharma Ltd., a biotechnology company, is set to make its debut on the NASDAQ under the symbol MDCX. The company focuses on developing innovative treatments for skin cancer, particularly basal cell carcinoma. Medicus Pharma's recent IPO marks a significant step in its growth strategy, allowing it to expand its research and development efforts.

The IPO successfully raised $4 million, a crucial financial milestone for Medicus Pharma. The funds will primarily support the company's ongoing Phase 2 trial for a noninvasive treatment targeting basal cell carcinoma. This trial is a key part of Medicus Pharma's mission to provide effective solutions for the most common form of skin cancer.

The offering consisted of 970,000 units, each priced at $4.125. Each unit includes one common share and one warrant, which can be exercised at $4.64 per share within five years. Trading for these shares and warrants began on November 14, 2024, on the NASDAQ under the symbols MDCX and MDCXW, respectively.

Despite the successful IPO, MDCX's stock is currently priced at $2.09, reflecting a decrease of 6.70% or $0.15. The stock has fluctuated between $1.91 and $2.18, which are also its 52-week high and low. The trading volume on the NASDAQ is 40,832 shares, indicating active investor interest.

The proceeds from the IPO will also be used for potential expansion into pivotal trials or studies on other non-melanoma skin cancers. Remaining funds will support corporate purposes and working capital, as highlighted by the company's strategic plans. Maxim Group LLC and Brookline Capital Markets are managing the offering, ensuring a smooth transition for Medicus Pharma into the public market.