Medicus Pharma (NASDAQ:MDCX) has announced the pricing of its Tier II Regulation A offering, aiming to raise approximately $4.2 million through the sale of 1.49 million units at $2.80 per unit.
Each unit includes one common share and one warrant, with the warrants exercisable at $2.80 per share for a five-year period.
The proceeds from the offering will primarily support Medicus Pharma's Phase 2 proof-of-concept clinical trial for a doxorubicin tip-loaded dissolvable microarray needle skin patch designed to treat basal cell carcinoma.
The company may also use the funds to expand the trial into a pivotal study or explore applications for other non-melanoma skin diseases.
Any remaining proceeds will support general corporate activities and working capital.
The company expects the offering to close on March 10.