Medicus Pharma Ltd (MDCX) News & EventsMDCXMedicus Pharma Ltd

Medicus Aligns Costs to Support CD228V Development

The company said, "Medicus intends to align organizational costs and development spending with its portfolio priorities. Incremental capital will be directed toward CD228V, with essential resources allocated to maintain Teverelix(R)'s value and partnering readiness and pursue the proposed SkinJectTransaction. Management anticipates a substantial reduction in operating expenses in the coming quarters. For Teverelix, Medicus is seeking partners with the capabilities and resources to advance opportunities in urology, advanced prostate cancer and women's health. The optimized prostate cancer protocol remains subject to FDA feedback. Maintaining program readiness while pursuing partnerships is intended to preserve the asset's potential value within the Company's capital allocation strategy."

Medicus Pharma Releases Q3 2026 Financial Update

Medicus Pharma outlined key highlights for its third quarter 2026 financial performance and business update conference call at 11:30 a.m. Eastern Time today, following the filing of its Quarterly Report on Form 10-Q for the quarter ended September 30. Management will explain the scientific and clinical rationale for the Company's CD228V agreement with Pfizer the proposed transaction between its wholly owned subsidiary, SkinJect, and an undisclosed special purpose acquisition company and the Company's approach to capital efficiency. Medicus' strategy is to concentrate incremental development investment on CD228V, pursue a separate public listing and dedicated financing for SkinJect and preserve Teverelix's readiness for partnering. The Company believes this approach can advance its precision oncology focus while preserving Medicus shareholders' participation in the potential value of its broader portfolio. Dr. Raza Bokhari CEO, is expected to describe how Medicus' review of the clinical evidence for the predecessor molecule, SGN-CD228A, Pfizer's refinement of the ADC construct and a focused initial development strategy informed the Company's decision to enter the CD228V co-development and license agreement. The decision was informed by Medicus' review of clinical data from Seagen's open-label Phase 1 study of SGN-CD228A, which enrolled 88 patients with advanced solid tumors, including melanoma and non-small cell lung cancer. This data provided preliminary clinical observations and insights into the CD228 target, safety and biomarkers. Detailed findings from that study have not yet been publicly disclosed. CD228V is a second-generation, clinical-stage antibody-drug conjugate directed against CD228, also known as melanotransferrin. The molecule uses Pfizer's established vedotin linker-payload platform, with changes to the linker and the amount of payload carried by each antibody. Medicus understands that these refinements were designed to improve the balance between drug exposure, tolerability and anti-tumor activity. Vedotin technology has clinical and regulatory precedent in FDA-approved ADC therapies. Medicus intends to prioritize melanoma that has relapsed, become refractory or resisted immunotherapy. Based on its assessment of the predecessor clinical evidence from SGN-CD228A and the potential benefit of Pfizer's linker-payload reconstruction, the Company believes CD228V has the potential to achieve an objective response rate exceeding 30% in melanoma. This potential remains to be demonstrated in clinical trials of CD228V. Any future monotherapy registration strategy would depend on durable responses, an acceptable safety profile and applicable regulatory requirements. Medicus is emerging as part of approximately 30 clinical-stage ADC developers across the globe. At one end of this field are established companies with approved products and extensive development capabilities; at the other are companies with programs still in clinical research and development. The CD228V agreement also places Medicus amongst a handful of companies advancing Seagen-linked ADC assets through Pfizer collaborations. The rights, economics and clinical maturity of those relationships differ. The Company believes that worldwide rights, a defined initial clinical objective and evidence generated through development could support future licensing, co-development and other strategic opportunities.

Medicus Proposes SkinJect Transaction Valued at Approximately $135M

The proposed SkinJect Transaction is intended to establish a separately listed company with its own access to public capital markets and dedicated financing for Gorlin syndrome development, while Medicus seeks to retain majority economic and voting ownership of the combined company. The Company believes this structure could support SkinJect's advancement while allowing Medicus to concentrate incremental investment on precision oncology. The non-binding letter of intent with the SPAC contemplates an approximately $135M pre-money enterprise valuation for SkinJect. Under the proposed terms, the SPAC would acquire 100% of SkinJect in exchange for newly issued common shares of the combined company. Concurrent equity financing is contemplated at closing of the Transaction to support the SKNJCT-005 study in Gorlin syndrome and preparation and submission of a potential New Drug Application. The Company currently projects approximately $3M over the next two years for that program. This is a projected program cost, subject to execution and regulatory requirements. Medicus will continue allocating essential resources to maintain program readiness as the proposed Transaction progresses. The Company currently anticipates completing the proposed Transaction during the first half of 2027. The LOI is non-binding, and there can be no assurance that definitive agreements will be signed, financing will be secured, Medicus will retain majority ownership, or the Transaction will close within that timeframe or at all.