Medicus Pharma (NASDAQ:MDCX) has closed its previously announced $7 million public offering of 2.26 million units priced at $3.10 each.
The proceeds from the offering will be used to support its Phase 2 clinical trial for a doxorubicin-loaded skin patch targeting basal cell carcinoma, the most common type of skin cancer.
The funds may be used to expand the trial to a pivotal study or broaden it to include other non-melanoma skin diseases, with any remaining funds used for general corporate purposes.