v3.26.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 15,174,128 $ 8,705,218
Prepaid expenses and other current assets 1,807,461 1,086,121
Deferred financing costs 0 99,305
Total current assets 16,981,589 9,890,644
Restricted cash 10,017,412 0
Operating lease right-of-use assets 117,184 170,733
Total assets 27,116,185 10,061,377
Current liabilities    
Accounts payable 6,734,310 3,435,297
Accrued expenses and other current liabilities 308,007 995,290
Related party payable 161,846 116,476
Operating lease liability, current 137,330 145,456
Debentures and secured promissory notes, current 3,500,000 5,245,543
Total current liabilities 10,841,493 9,938,062
Debentures and secured promissory notes, non-current 17,982,542 0
Loan payable 17,114 25,865
Operating lease liability, non-current 0 60,139
Total liabilities 28,841,149 10,024,066
Commitments and contingencies
Shareholders' (deficit) equity    
Common shares, no par value; unlimited shares authorized; 60,168,044 and 25,176,303 shares issued and outstanding as of June 30, 2026, and December 31, 2025, respectively 74,298,513 57,076,175
Common shares to be issued 0 313,934
Additional paid-in capital 8,884,707 6,879,575
Accumulated other comprehensive income 61,095 10,880
Accumulated deficit (85,007,966) (64,348,118)
Total shareholders' (deficit) equity attributable to Medicus Pharma Ltd. (1,763,651) (67,554)
Non-controlling interests 38,687 104,865
Total shareholders' (deficit) equity (1,724,964) 37,311
Total liabilities and shareholders' (deficit) equity $ 27,116,185 $ 10,061,377