Medicus Pharma Ltd. (NASDAQ: MDCX) raised $5.1 million in cash by immediately exercising all outstanding Series A and Series B warrants issued on July 14 2025, a move announced on December 5 2025. The company entered into a warrant inducement agreement with Maxim Group LLC, which exercised the warrants and received the proceeds in exchange for new Series C and D warrants.
The new warrants cover 4.02 million shares at an exercise price of $2.00, exercisable over a 5.5‑year period. The original Series A and B warrants had an exercise price of $2.80; the inducement reduced the price to $1.92, providing a discount that incentivized the holders to exercise early and deliver the cash to Medicus.
The financing is intended to shore up the company’s liquidity, which has been under pressure with a current ratio of 0.92. The proceeds will fund the development of the SkinJect dissolvable microneedle platform and the Teverelix prostate‑cancer pipeline, both of which are critical to Medicus’s growth strategy. The raise is the largest capital infusion the company has completed in the past year, following a $4.2 million Regulation A offering in March, a $7.0 million public offering in June, and a Standby Equity Purchase Agreement in July.
At the time of the announcement, Medicus had a market capitalization of approximately $42.3 million and a share price near $2.06. The company’s cash burn and liquidity concerns made the $5.1 million raise a timely injection of working capital, extending the runway for its clinical programs and mitigating short‑term cash flow risks.
Dr. Raza Bokhari, Executive Chairman and CEO, emphasized the strategic importance of the Teverelix program, noting its potential to address a $6 billion market opportunity in prostate cancer and urinary retention. He also highlighted the company’s confidence in the SkinJect platform, which has received positive feedback from the FDA and is advancing through Phase 2 trials.
While the new warrants introduce potential future dilution, the immediate cash infusion strengthens Medicus’s balance sheet and supports its pipeline investments. The company’s management signals that the financing is a tactical step to maintain momentum in its core therapeutic areas while preserving shareholder value over the long term.
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