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Note: This is NOT an IPO. This is an uplisting to the NASDAQ from the TSX Venture Exchange (TSXV) in Canada. (Incorporated in Canada)
Note: The closing price of our common shares on the TSXV on October 30, 2024 was C$6.33, which is equivalent to approximately $4.55 at the daily average exchange rate of $1.00 to C$1.3915 reported by the Bank of Canada on October 30, 2024. The initial public offering price for the Units will be determined based on the bookbuilding process and is expected to be at or close to the closing price of our common shares on the TSXV on the most recent trading date prior to the pricing date of the offering. For purposes of this prospectus, we have assumed an initial public offering price of $4.55, which is the U.S. dollar equivalent of the closing price of our common shares on the TSXV on October 30, 2024.
We are a biotech/life sciences company focused on accelerating the clinical development programs of novel and disruptive therapeutic assets. Currently, we are developing one product, SkinJectTM (the “Product”), with an indication for basal cell carcinoma.
Through our wholly owned subsidiary, SkinJect, Inc. (“SkinJect”), we focus on the development of our in-licensed drug device combination product using novel dissolvable microneedle arrays for the treatment of non-melanoma skin cancers. Our combination product candidate is a doxorubicin tip-loaded D-MNA filed with the U.S. Food and Drug Administration (the “FDA”) under an Investigational New Drug Application and is regulated by the Center for Drug Evaluation and Registration (CDER), Oncology Division.
Prior to the Company’s acquisition of SkinJect, our business was undertaken by SkinJect as a stand-alone entity. References to our business as conducted at a date prior to the completion of the Business Combination relate to the business undertakings of SkinJect. For information on the Business Combination, see “Corporate History and Information.“
We are subject to significant risks and uncertainties, including those related to our limited operating history, our lack of historical earnings, and the fact that the Product is a novel technology for which regulatory approval might not be achieved. For more information, see “Risk Factors.“
Our Strategy
Our principal purpose is to advance the clinical development program of the Product, a novel, minimally invasive treatment for basal cell carcinoma and potentially other common forms of non-melanoma skin cancer. We also seek to opportunistically identify, evaluate and acquire accretive assets, properties or businesses.
The Product is considered an Investigational New Drug (“IND”) by the FDA. In January 2024, we submitted to the FDA a Phase 2 IND clinical protocol to non-invasively treat basal cell carcinoma of the skin using the Product. The clinical protocol was updated in July 2024.
We may also trial the Product on other forms of skin cancer beyond basal cell carcinoma. Specifically, it may be trialed against squamous cell carcinoma, cutaneous T-cell lymphoma, as well as pre-cancerous lesions, among other clinical indications, subject to the Company having the capital resources available to do so, without any need to amend or expand the scope of the Company’s existing licenses.
In addition, our business strategy includes the opportunistic acquisition of other accretive clinical stage life sciences and biotechnology companies. We have not identified any potential acquisitions at this time, nor have we entered into any agreement, letter of intent or other similar document with respect to any proposed acquisition.
Our key competitive strengths include:
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A senior management team – led by Dr. Raza Bokhari – with deep experience in medicine and pharmaceutical science as well as a proven track record in business development and entrepreneurship.
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Successful completion of a Phase 1 study of the Product.
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Potential to treat a range of other common non-melanoma skin cancers as well as pre-cancerous lesions.
Note: Net loss is in U.S. dollars for the year that ended Dec. 31, 2023, when the company reported that it had not generated any revenue.
(Note: Medicus Pharma Ltd. increased the size of its public offering/NASDAQ uplisting to 970,000 units – up from 880,000 units – and priced the deal at $4.13 ($4.125) per unit – to raise about $4.0 million on Wednesday night, Nov 13, 2024. The company’s stock and warrants were set to start trading Thursday, Nov. 14, 2024, on the NASDAQ. Each unit consists of one common share of Medicus Pharma and one warrant to buy one common share. Note: Medicus Pharma’s stock will continue to trade on the TSXV under the symbol “MDCX” according to the company’s statement announcing the pricing of the public offering/NASDAQ uplisting.)
(Note: Medicus Pharma Ltd. increased the size of its public unit offering – a NASDAQ uplisting – to 0.88 units or 880,000 units – up from 0.55 units or 550,000 units – at $4.55 – to raise $4.0 million, according to an F-1/A dated Nov. 14, 2024. Each unit consists of one common share of Medicus Pharma Ltd. and one warrant to buy one common share.)
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