Medicus Pharma Posts $9M Q1 Loss, Advances Phase 2 SkinJect® and Teverelix® Programs
Medicus Pharma reported $6.4m in cash at March 31, 2026 (up from $4.0m a year earlier) while net loss widened to $9.0m. The company disclosed positive Phase 2 SKNJCT-003 data demonstrating dose-response in the 200-µg cohort for basal cell carcinoma and FDA clearance for a Phase 2b Teverelix® study.
1. Q1 Financial Results
Medicus Pharma reported cash and cash equivalents of $6.4 million as of March 31, 2026 (versus $4.0 million a year earlier) and recorded a net loss of $9.0 million, up from $5.1 million in Q1 2025. Operating expenses rose to $8.6 million, driven by increased R&D and administrative investments.
2. SkinJect® Program Progress
Phase 2 SKNJCT-003 topline data for SkinJect® D-MNA showed positive dose-response and registrational-grade clearance rates in the 200-µg cohort, supporting further FDA engagement. Enrollment of 90 patients completed, parallel SKNJCT-004 expansion activities advanced in new markets, and an Orphan Drug application for Gorlin Syndrome has been submitted.
3. Teverelix® Development Updates
Teverelix® received FDA clearance to proceed with a Phase 2b dose optimization study in advanced prostate cancer and submitted an optimized Phase 2 protocol for prevention of recurrent acute urinary retention in benign prostatic hyperplasia. A LifeArc licensing amendment reduced royalty rates from ~4% to 2% on worldwide net sales.
4. Financing and Strategic Initiatives
The company secured approximately $10 million in gross proceeds through its ATM and SEPA facilities during Q1 and expanded ATM capacity to $50 million post quarter end. Management is also advancing AI-enabled clinical collaborations and evaluating strategic acquisitions and partnerships to broaden its development pipeline.