Medicus Pharma Q2 Loss Widens to $11.7M as R&D Spend Triples
MDCX sits 32% above its 52-week low of $0.25.
Summary
Medicus Pharma's Q2 net loss widened to $11.7 million from a year earlier, driven by a surge in R&D spending to $4.9 million from $1.4 million. Operating expenses nearly doubled to $11.5 million. The company raised about $40 million in equity and debt during the quarter, but cash stands at $15.2 million plus $10 million restricted, and management reiterated substantial doubt about its ability to continue as a going concern without additional financing. This follows the 10-Q filed today and the $22.8 million secured debt deal in May. The company cites FDA and international study authorizations for SkinJect and Teverelix as key pipeline progress, with multiple clinical and regulatory milestones expected in coming quarters.
At the time of this announcement, MDCX was trading at $0.33 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $18.8M. The 52-week trading range was $0.25 to $3.05. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.