Medicus Pharma Ltd. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC, disclosing condensed consolidated balance sheet data and operational updates as of that date.

Key Highlights

  • Cash position: Cash and cash equivalents stood at $5,019,755 as of September 30, 2026, down from $8,705,218 at December 31, 2025, according to the filing.
  • Restricted cash added: Restricted cash of $8,075,075 appeared on the balance sheet as of September 30, 2026, compared to zero at December 31, 2025.
  • Total assets: Total assets were reported at $14,536,679 as of September 30, 2026, up from $10,061,377 at December 31, 2025.
  • Current debt: Debentures and secured promissory notes, current, were listed at $6,000,000 as of September 30, 2026, versus $5,245,543 at December 31, 2025.
  • Shares outstanding: As of November 2, 2026, there were 1,922,837 common shares, no par value, issued and outstanding.
  • Going concern language: The filing lists among its forward-looking topics "our ability to continue as a going concern, generate earnings and achieve and sustain profitability," noting these are subject to material risks and uncertainties.
  • Exchange listings: Common shares trade on NASDAQ:MDCX and warrants trade under MDCXW, both on the Nasdaq Capital Market.

Medicus Pharma Balance Sheet Shifts in Q3 2026

According to the 10-Q filing, Medicus Pharma Ltd. reported total current assets of $6,372,364 as of September 30, 2026, compared to $9,890,644 at December 31, 2025. The decline in current assets was driven primarily by a reduction in cash and cash equivalents from $8,705,218 to $5,019,755. Prepaid expenses and other current assets increased from $1,086,121 to $1,352,609, while deferred financing costs of $99,305 carried on the prior year-end balance sheet fell to zero.

Total assets rose to $14,536,679 from $10,061,377, primarily reflecting the addition of $8,075,075 in restricted cash that was not present at December 31, 2025. Operating lease right-of-use assets declined from $170,733 to $89,240 over the same period, the filing disclosed. On the liabilities side, accounts payable fell from $3,435,297 to $2,134,134, while accrued expenses and other current liabilities edged up from $995,290 to $1,048,825. Interest payable on secured promissory notes, current, was $289,710 as of September 30, 2026, compared to zero at the prior year-end.

The filing also references several ongoing strategic matters, including a proposed Business Combination involving SkinJect, the integration of Antev Limited and development of Teverelix trifluoroacetate, and a collaboration with Pfizer related to CD228V. The company characterizes these and other items as forward-looking statements subject to substantial risks and uncertainties, and states it undertakes no obligation to update them except as required by applicable securities laws.

What Was Disclosed

Medicus Pharma Ltd. filed its quarterly report covering the period ended September 30, 2026, disclosing balance sheet data showing a decline in cash, an increase in restricted cash, and current debt of $6,000,000, alongside 1,922,837 common shares outstanding as of November 2, 2026.