Medicus Pharma Shares Fall After IPO

Dow Jones

Nov 15, 2024

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)

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Each unit consists of one common share of the company and one warrant to purchase one common share. \n</p>\n<p>\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</p>\n<pre>\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 14, 2024 14:26 ET (19:26 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MDCX","symbol_name":"Medicus Pharma Ltd.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483933544","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483933544","pubTimestamp":1731612360,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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. 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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":0,"need_auth":true,"code":"91000000","status":"200"}}}