Medicus Pharma Shares Fall After IPO

Dow Jones

2024-11-15

By Connor Hart

Shares of Medicus Pharma tumbled 39%, to $2.50, on the company's first day of trading Thursday.

The biotechnology and life-sciences pharmaceutical company on Wednesday said it would sell 970,000 units at about $4.13 apiece. Each unit consists of one common share of the company and one warrant to purchase one common share.

The company, which was seeking a valuation of $4 million, said it plans to use net proceeds from its IPO to fund a Phase 2 trial of its treatment of basal cell carcinoma, as well as to expand its trials to cover other non-melanoma skin diseases and for general corporate purposes.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 14, 2024 14:26 ET (19:26 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Each unit consists of one common share of the company and one warrant to purchase one common share. \n\n\n  The company, which was seeking a valuation of $4 million, said it plans to use net proceeds from its IPO to fund a Phase 2 trial of its treatment of basal cell carcinoma, as well as to expand its trials to cover other non-melanoma skin diseases and for general corporate purposes. \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 14, 2024 14:26 ET (19:26 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}