Medicus Pharma Ltd (MDCX), a biotech/life sciences company, on Friday reported entering into a definitive financing agreement.
The company reportedly signed the agreement with an institutional investor for $22 million in a structured, non-dilutive financial facility.
Under the agreement's terms, the company gains $12 million in immediate operating capital and will progressively receive an additional $10 million in milestone payments.
The financing is structured as a secured promissory note worth $12.86 million, carrying an 8.75% interest rate and a 6.5% original issue discount. Another secured promissory note is issued at $10 million, carrying a 5% interest rate and no original issue discount.
It is estimated that pro forma cash with the company will increase to $30 million, with a projected operational cash runway predicted for over 24 months.
Proceeds are planned to be put toward repaying $2.5 million of outstanding debt, and to support clinical development, potential business initiatives, and general corporate and working capital purposes.
MDCX closed Thursday at $0.32, up 6.74%. In the pre-market, shares are trading at $0.33, up 0.12%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.