$MDCX(Medicus Pharma — $22M non-dilutive financing secured, multiple clinical catalysts ahead on a sub $1 biotech

Posting some DD on Medicus Pharma (Nasdaq: MDCX), a clinical stage biotech trading around $0.30. Not a recommendation - sharing what I've found, do your own DD.

**The company:** Medicus is developing SkinJect, a microneedle patch (doxorubicin containing microneedle arrays) that delivers chemo directly into skin cancer lesions - a potential non invasive alternative to surgery for basal cell carcinoma. Second asset is Teverelix, a next-gen GnRH antagonist for high CV risk prostate cancer and acute urinary retention.

**The catalyst (May 28):** Secured up to $22M in non-dilutive financing — structured as two secured promissory notes (\~$12.9M at 8.75% w/ a 6.5% original issue discount, plus $10M at 5%). It's debt, not equity, so no share dilution, but it does carry interest and is secured against company assets.

**Why some are watching:**

* SKNJCT-003 Phase 2 in nodular BCC completed — the 200 mcg cohort showed 64% clinical clearance and 55% histological clearance at Day 57, with no treatment-related serious adverse events
* Advancing SkinJect into Phase 2b registrational development (Protocol SKNJCT-005) for Gorlin Syndrome, submitted to FDA - up to 50 patients
* Filed for Orphan Drug Designation; plans to seek a Rare Pediatric Disease Priority Review Voucher (could mean fee exemptions / faster NDA review if granted)
* Teverelix advancing in prostate cancer & AUR
* Market opportunity: $2B for SkinJect, $6B for Teverelix