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MDCX on Nasdaq

Medicus Pharma Ltd.

Medicus Pharma Ltd. is a Canadian pharmaceutical preparations company based in Toronto.2 Its shares trade on Nasdaq under the symbol MDCX.2

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Last updated Oct 21, 2026.

Overview

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  • TickerMDCX on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersToronto, Canada2
  • Incorporated inOntario, Canada3
  • Business address300 Conshohocken State Rd., Suite 200, W. Conshohocken, Pa 194283
  • Filer category, Emerging growth company3
  • Legal formCorporation2
  • LEI984500563DE3E95582042
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered address100 King St W Suite 3400, M5X 1A4 Toronto, Canada2
  • Registered withMinistry of Government and Consumer Services, 17678522

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Our company (formerly, Interactive Capital Partners Corporation) was incorporated pursuant to the Business Corporations Act (Ontario) on April 30, 2008 under the name Interactive Capital Partners Corporation.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income56-$34.4M in 2025+626% since 2023
-$40.0M-$30.0M-$20.0M-$10.0M02023: -$4.7M-$4.7M20232024: -$11.2M-$11.2M2024+136%2025: -$34.4M-$34.4M2025+207%
Net income56-$47.3M in 2025+790% since 2023
-$60.0M-$40.0M-$20.0M02023: -$5.3M-$5.3M20232024: -$11.2M-$11.2M2024+110%2025: -$47.3M-$47.3M2025+324%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
General and administrative$17.9M$7.7M
Research and development$7.7M$3.5M
In-process research and development (IPR&D) -Teverelix$8.7M$0
Total operating expenses$34.4M$11.2M
Loss from operations-$34.4M-$11.2M
Interest income (expense)-$197.4K$25.4K
Loss on SEPA settlements-$278.9K$0
Change in fair value of debentures-$583.8K$0
Loss on extinguishment of debentures-$25.0K$0
Total other income (expense)-$1.1M$25.4K
Net loss for the year-$35.4M-$11.2M
Deemed dividend on warrant inducement-$11.8M$0
Net loss for the year attributable to common shareholders-$47.3M-$11.2M
Foreign currency translation adjustment-$10.7K$0
Comprehensive loss for the year attributable to common shareholders-$47.3M-$11.2M
Common shareholders of the Company-$47.3M-$11.2M
Non-controlling interests-$146$0
Common shareholders of the Company-$47.3M-$11.2M
Non-controlling interests-$150$0
Net loss per share attributable to common shareholders - basic-$2.74-$1.16
Net loss per share attributable to common shareholders - diluted-$2.74-$1.16
Weighted average number of common shares outstanding - basic17.3M shares9.6M shares
Weighted average number of common shares outstanding - diluted17.3M shares9.6M shares

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Corporate structure

Medicus Pharma Ltd. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Medicus Pharma Ltd.

  • Raza Bokhari Filed SCHEDULE 13D on Medicus Pharma Ltd., latest Sep 14, 2026 (3 filings since Feb 10, 2025)
  • Ajay Raju Filed SCHEDULE 13G/A on Medicus Pharma Ltd., latest May 5, 2026 (2 filings since Jan 13, 2025)
  • ARMISTICE CAPITAL, LLC Filed SCHEDULE 13G/A on Medicus Pharma Ltd., latest Aug 14, 2025 (2 filings since May 15, 2025)
  • John Jason Hathaway Filed SCHEDULE 13G/A on Medicus Pharma Ltd., latest Aug 12, 2025 (2 filings since Feb 10, 2025)
  • Kenneth R. Melani Filed SCHEDULE 13G/A on Medicus Pharma Ltd., latest Aug 12, 2025 (2 filings since Feb 13, 2025)
  • Medicus Pharma Ltd. Toronto, Ontario, Canada

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Medicus Pharma Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$170.7K6 Dec 31, 2025$268.6K6 Dec 31, 2024−36.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$8.7M6 Dec 31, 2025$4.2M6 Dec 31, 2024+109.0%

Properties, in its own words

Our registered and head office is located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario M5X 1A4, Canada. Our principal executive office is located at 300 Conshohocken State Rd., Suite 200, W. Conshohocken, PA 19428. We believe that our current facilities are suitable and adequate to meet our current needs. We believe that suitable additional space or substitute space will be available in the future to accommodate our operations as needed.

Item 2 of the 10-K filed Mar 25, 2026.4

Leadership

Who has led Medicus Pharma Ltd., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Raza Bokhari2024–now

President

  1. Carolyn F. Bonner2024–now

Chief financial officer

  1. James P. Quinlan2024–2025
  2. Carolyn F. Bonner2025–now

Chief operating officer

  1. Andrew Alasdair Smith2025–now
2025
Board members and other officers (12)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Chief Operating OfficerErica J. Monaco named Jul 8, 202425

Timeline

  1. Oct 7, 20268-K Other events26
  2. Sep 14, 20268-K Ended a material agreement27
  3. Sep 11, 20268-K Unregistered sale of shares28
  4. Sep 3, 20268-K Entered a material agreement29
  5. Jun 4, 20268-K Shareholder vote30
  6. May 27, 20268-K Entered a material agreement; New debt or obligation; Listing notice or transfer31
  7. Apr 24, 20268-K Entered a material agreement; Listing notice or transfer32
  8. Mar 6, 20268-K Unregistered sale of shares33
  9. Dec 30, 20258-K Entered a material agreement34
  10. Dec 8, 20258-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure35
  11. Dec 1, 20258-K Executive or director change; Regulation FD disclosure36
  12. Nov 14, 20258-K Other events37
  13. Dec 31, 2024New chief executive Raza Bokhari becomes CEO9
  14. Apr 30, 2008Founded Medicus Pharma Ltd. is founded2

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($32.50) a share, on Nov 14, 2025.38

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

334 filings to the SEC since October 2021: 4 annual reports, 5 quarterly reports, 33 major events, 83 insider forms, 11 large holders, 3 private raises, 195 other. The latest 20:

  1. Oct 7, 2026424B3 EDGAR
  2. Oct 7, 20268-K EDGAR
  3. Sep 14, 2026424B3 EDGAR
  4. Sep 14, 20268-K EDGAR
  5. Sep 14, 2026SCHEDULE 13D EDGAR
  6. Sep 11, 20268-K EDGAR
  7. Sep 8, 20264 OWNERSHIP DOCUMENT EDGAR
  8. Sep 8, 20264 OWNERSHIP DOCUMENT EDGAR
  9. Sep 8, 20264 OWNERSHIP DOCUMENT EDGAR
  10. Sep 8, 20264 OWNERSHIP DOCUMENT EDGAR
  11. Sep 8, 20264 OWNERSHIP DOCUMENT EDGAR
  12. Sep 3, 2026424B3 EDGAR
  13. Sep 3, 20268-K EDGAR
  14. Aug 13, 2026424B3 EDGAR
  15. Aug 12, 202610-Q EDGAR
  16. Jun 4, 2026424B3 EDGAR
  17. Jun 4, 20268-K EDGAR
  18. Jun 4, 20264 OWNERSHIP DOCUMENT EDGAR
  19. Jun 4, 20264 OWNERSHIP DOCUMENT EDGAR
  20. Jun 4, 20264 OWNERSHIP DOCUMENT EDGAR

The 334 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 20, 2025Melani Kenneth R.10% ownerSale75,000$7.72$579.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Raza BokhariSCHEDULE 13D, 3 filings Feb 10, 2025 to Sep 14, 202639
  • Ajay RajuSCHEDULE 13G/A, 2 filings Jan 13, 2025 to May 5, 202640
  • ARMISTICE CAPITAL, LLCSCHEDULE 13G/A, 2 filings May 15, 2025 to Aug 14, 202541
  • John Jason HathawaySCHEDULE 13G/A, 2 filings Feb 10, 2025 to Aug 12, 202542
  • Kenneth R. MelaniSCHEDULE 13G/A, 2 filings Feb 13, 2025 to Aug 12, 202543

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Dr. Faisal MehmudChief Medical Officer51$333.5K$826.1K44
2025Dr. Raza BokhariChief Executive Officer59$405.9K$632.7K44
2025Dr. Edward BrennanChief Scientific Officer & Head of R&D Program66$337.0K$589.6K44
2025Carolyn BonnerChief Financial Officer and President42$310.0K$423.7K44
2024Dr. Edward BrennanChief Scientific Officer & Head of R&D Program66$325.7K$525.5K44
2024Dr. Raza BokhariChief Executive Officer59$144.4K$159.5K44
2024Carolyn BonnerChief Financial Officer and President42$5.7K$99.3K44
2024Dr. Faisal MehmudChief Medical Officer51$38.2K$46.5K44

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 3, 2024Raised $11 million in a private offering of securities Form D: 23 investors so far Form D
  2. Sep 29, 2023Raised $4.9 million in a private offering of equity Form D: 68 investors so far Form D

SEC filer profile

How Medicus Pharma Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMedicus Pharma Ltd.1
  • CIK0001997296
  • Employer ID (EIN)98-17782114
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inOntario4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address300 Conshohocken State Rd., Suite 200, W. Conshohocken, PA 194281
  • Phone610-540-75151
  • Shares outstanding63,180,610 as of Aug 10, 20268
  • Public float$28.3M as of Jun 30, 20244
  • AuditorKPMG LLP, New York, New York PCAOB ID 1854
  • On EDGAR sinceOct 13, 20231
  • Filings334 in all: 424B3 (90), 4 (57), 8-K (32), 253G2 (23), 3 (16), EFFECT (12), 3/A (10), F-1/A (9)1
    All 41 form types

    CORRESP (8), 6-K (6), DRS (6), UPLOAD (6), 10-Q (5), S-1 (5), SCHEDULE 13G (5), SCHEDULE 13G/A (5), POS AM (4), QUALIF (3), 1-A POS (2), 10-K (2), 10-K/A (2), 424B4 (2), ARS (2), D (2), DEF 14A (2), PRE 14A (2), S-3 (2), 1-A (1), 1-A/A (1), 144 (1), 253G1 (1), 424B5 (1), 8-A12B (1), 8-K/A (1), CERT (1), D/A (1), F-1 (1), F-X (1), PRER14A (1), S-8 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Mar 25, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) May 4, 2026
    Latest 8-K (8-K) Oct 7, 2026

Securities registered for trading

ClassSymbolExchange
MDCXNasdaq

From the cover page of the 10-K filed Mar 25, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Medicus Pharma Ltd. names in Item 1A of its 10-K filed Mar 25, 2026: 77 risks under these headings, as written.4

  • Risks Relating to Our Business
  • We have a limited operating history, which may make it difficult to evaluation our current business and predict our future performance.
  • We have a novel technology with uncertain market acceptance.
  • The University of Pittsburgh may terminate our license agreement in certain circumstances.
  • We may not successfully integrate Antev into our business and operations or successfully develop Teverelix.
  • Certain of our intellectual property is held under third-party licenses.
  • Our technology may not be successful for its intended use.
  • Substantial doubt exists about the Company's ability to continue as a going concern and if the Company is unable to obtain additional financing from outside sources and/or eventually generate enough revenues, it may be forced to curtail or discontinue its operations.
  • Future technology will require regulatory approval, which is costly and we may not be able to obtain it and we may fail to obtain regulatory approvals or only obtain approvals for limited uses or indications.
  • Changes in methods of manufacturing or formulation may result in additional costs or delay.
  • The manufacture of the Products is complex. We or our third-party manufacturers may encounter difficulties in production. If we encounter any such difficulties, our ability to supply the Products for clinical trials or, if approved, for commercial sale could be delayed or halted entirely.
  • We rely on external contract research organizations to provide clinical and nonclinical research services and agreements with these organizations of which one agreement is currently in place.
The other 66 risks
  • We rely on key personnel.
  • We may not be able to successfully execute our business strategy.
  • We will require additional financing in the future, which may not be available on favorable terms or at all.
  • We have had negative operating cash flows since inception and expect to incur losses for the foreseeable future.
  • We are in a highly competitive industry which is continuously evolving with technological changes.
  • Our future success will depend on our ability to continually enhance and develop the Products.
  • If we are unable to differentiate SkinJectTM from existing therapies for treatment of skin cancer or Teverelix from therapies for high cardiovascular risk advanced prostate cancer patients or from treatment of recurrent AUR ("AURr") episodes, or if the FDA or other applicable regulatory authorities approve generic products that compete with the Products, the ability to successfully commercialize the Products would be adversely affected.
  • A variety of risks associated with potential international business relationships could materially adversely affect our business.
  • Collaboration arrangements we may enter into in the future may not be successful.
  • We have and may in the future acquire businesses or products, or form strategic alliances in the future, and we may not realize the benefits of such acquisitions or alliances.
  • We do not have any customer commitments.
  • Our business and operations would suffer in the event of computer system failures, cyberattacks, or a deficiency in our cyber security.
  • We may fail to manage growth successfully which may adversely impact operating results.
  • Any products we develop will be subject to extensive, lengthy and uncertain regulatory requirements, which could adversely affect the ability to obtain regulatory approval in a timely manner, or at all.
  • We may not be able to obtain marketing approval.
  • We rely on the protection of intellectual property rights.
  • Intellectual property rights do not necessarily address all potential threats to our competitive advantage.
  • We may not be able to enforce our intellectual property rights throughout the world.
  • Guidelines and recommendations published by various organizations can reduce the use of products that we may commercialize.
  • Changes in patent law in the United States and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our technology and products..
  • If we do not obtain protection under the Hatch-Waxman Amendments by obtaining data exclusivity, our business may be harmed.
  • Risk of reduced or eliminated patent protection from non-compliance with regulatory requirements.
  • We may infringe the intellectual property rights of others.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which might harm our ability to develop and market our products.
  • We may become involved in lawsuits to protect or enforce our patents or our other intellectual property rights, which could be expensive, time consuming and unsuccessful.
  • Intellectual property litigation could cause us to spend substantial resources and distract our personnel from their normal responsibilities and have a harmful effect on the success of our business.
  • Because of the expense and uncertainty of litigation, we may not be in a position to enforce our intellectual property rights against third parties.
  • We may need to license intellectual property from third parties, and such licenses may not be available or may not be available on commercially reasonable terms.
  • We may be subject to claims arising from consultants or contractors misappropriating intellectual property.
  • Our reliance on third parties requires us to share our trade secrets, which increases the possibility that a competitor will discover them or that our trade secrets will be misappropriated or disclosed.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • The increasing use of artificial intelligence ("AI") and machine learning in drug discovery and development introduces new and evolving risks that could harm our business and competitive position.
  • We use hazardous chemicals and biological materials in their business. Any claims relating to improper handling, storage or disposal of these materials could be time consuming and costly.
  • If product liability lawsuits are brought against us then we may incur substantial liabilities and may be required to limit commercialization of the Products, if approved, and any other future products.
  • Our employees, independent contractors, principal investigators, consultants, commercial partners and vendors may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements and insider trading, which could significantly harm our business.
  • We may be unable to adequately prevent disclosure of trade secrets and other proprietary information.
  • Lawsuits relating to intellectual property infringement will be costly and time consuming.
  • Intellectual property disputes could distract our personnel from their normal responsibilities.
  • Our directors may serve as directors of other biotech companies and may have conflicts of interest.
  • Our business is affected by macroeconomic conditions.
  • We may be responsible for corruption and anti-bribery law violations.
  • We are subject to foreign exchange risks.
  • We are subject to taxation risks and changing rules by different tax authorities or challenges to our tax positions.
  • We believe that we will be treated as a U.S. corporation for U.S. federal income tax purposes.
  • Our ability to use our net operating losses and certain other attributes may be subject to certain limitations.
  • We are subject to a number of risks and hazards, of which not all of them may be sufficiently insured for.
  • Risks related to health epidemics and pandemics.
  • Risks Related to Marketing, Reimbursement, Healthcare Regulations and Ongoing Regulatory Compliance
  • Coverage and reimbursement may be limited or unavailable in certain market segments for the Products, which could make it difficult for us to sell the Products profitably.
  • Our relationship with healthcare providers and physicians and third-party payors will be subject to applicable antikickback, fraud and abuse and other healthcare laws and regulations, which could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm and diminished profits and future earnings.
  • Ongoing healthcare legislative and regulatory reform measures may have a material adverse effect on our business and results of operations.
  • We are currently operating in a period of global economic uncertainty and capital markets disruption, which has been significantly impacted by geopolitical instability. Changes and instability in global economic conditions and geopolitical matters could have a material adverse effect on our business, financial condition and results of operations.
  • Risks Relating to Our Securities
  • We may experience fluctuations in market value.
  • Our securities could be subject to large price and volume volatility.
  • Due to the relatively small size of our public float, our securities may experience extreme price volatility unrelated to our actual or expected operating performance, financial condition, or prospects, making it difficult for prospective investors to assess the rapidly changing value of our securities.
  • Sales of a significant number of our common shares in the public markets, or the perception that such sales could occur, could depress the market price of our common shares.
  • We will need to raise additional financing in the future and our shareholders may experience substantial dilution in the value of their investment if we issue additional common shares.
  • We have in the past, and may in the future, issue debt and equity securities or securities convertible into equity securities, any of which may be senior to our common shares as to distributions and in liquidation, which could negatively affect the value of our common shares.
  • We have no history of paying, and do not intend to pay, dividends on our common shares, so any returns will be substantially limited to the value of our common shares.
  • We may issue, without shareholder approval, preferred shares that have rights and preferences potentially superior to those of our common shares.
  • If equity research analysts do not publish research or reports about our business or if they issue unfavorable commentary or downgrade our common shares, the price of our securities could decline.
  • Risks Related to Being a Public Company
  • As a result of recently becoming a public company in the United States, we are subject to additional regulatory compliance requirements, including Section 404 of the Sarbanes-Oxley Act, and if we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results or prevent fraud.
  • If we are unable for any reason to meet the continued listing requirements of Nasdaq, such action or inaction could result in a delisting of our common shares and our Public Warrants, as applicable.
  • There is a risk that we will fail to maintain an effective system of internal controls and our ability to produce timely and accurate financial statements or comply with applicable regulations could be adversely affected.
  • We have and will continue to incur increased costs as a result of our operation as a dual U.S.-Canadian reporting company, and our management will be required to devote substantial time and resources to employing new compliance initiatives in order to comport with the regulatory requirements applicable to public companies.
  • We may be subject to securities litigation, which is expensive and could divert management attention.

Legal proceedings

There is no material litigation, arbitration or governmental proceeding currently pending against us or any members of our management team in their capacity as such, and we and the members of our management team have not been subject to any such proceeding in the 12 months preceding the date hereof.

The opening of Item 3, Legal Proceedings.4

Sources

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