Medicus Pharma Ltd. (MDCX) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 14, 2026

Risk Assessment Details

Potential Dilution: 143.43% of current shares
Recent Dilution: 212.59% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
57M
Potential Supply
81M
Additional shares possible
Splits
None
Past 2 years

Summary

MDCX currently has 56.7M outstanding shares. with significant dilution risk as 81.3M authorized shares could dilute existing holders by 143.4%. The company has significantly diluted shareholders by 212.59% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 14, 2026

10-Q filing | 56.7M shares outstanding

57M 81M
Mar 25, 2026

POS AM filing: This is a POS AM filing for Medicus Pharma Ltd. detailing the offering of shares issuable upon the exercise of Public Warrants and June 2030 Warrants.

43M 81M
Mar 25, 2026

POS AM filing: This is a POS AM filing for Medicus Pharma Ltd. offering 1,397,184 common shares by Selling Shareholders.

30M 84M
Mar 25, 2026

POS AM filing: This POS AM filing details an offering of common shares by a selling shareholder, including commitment shares and shares issuable under a SEPA agreement, with Medicus Pharma Ltd. not receiving any proceeds from the sale.

41M 85M
Mar 25, 2026

10-K filing | 39.4M shares outstanding

39M 85M
Jan 30, 2026

S-3 filing: This S-3 filing from Medicus Pharma Ltd. details an offering of 4,020,000 common shares by a Selling Shareholder, underlying Private Warrants, with no proceeds to the company from this sale.

30M 85M
Dec 30, 2025

S-3 filing: The company is filing an S-3 to offer and sell up to $100,000,000 in any combination of common shares, preferred shares, subscription rights, units or warrants.

25M 81M
Dec 08, 2025

8-K filing: Medicus Pharma Ltd. entered into a warrant inducement agreement with a holder to exercise existing warrants and completed sales of common shares to Yorkville under the SEPA. ($6.6M proceeds)

22M 7.9M
Nov 14, 2025

10-Q filing | 22.0M shares outstanding

22M 7.9M
Sep 29, 2025

S-1 filing: This S-1 filing outlines the offering of 1,397,184 common shares by selling shareholders of Medicus Pharma Ltd., with no proceeds going to the company. The company has 21,865,288 common shares outstanding after the offering.

22M 7.9M
Sep 02, 2025

8-K filing: Medicus Pharma Ltd. completed the acquisition of Antev Ltd. for cash and common shares, and sold common shares to Yorkville under a Standby Equity Purchase Agreement. ($0.49M proceeds)

18M 6.5M
Aug 22, 2025

8-K filing: Medicus Pharma Ltd. completed sales of common shares to Yorkville under the SEPA agreement, and James Quinlan, the CFO, exercised stock options. ($1.81M proceeds)

18M 6.5M
Aug 11, 2025

10-Q filing | 17.8M shares outstanding

18M 6.5M
Jul 14, 2025

8-K filing: Medicus Pharma Ltd. entered into a warrant inducement agreement and sold common shares to Yorkville under a Standby Equity Purchase Agreement. ($5.27M proceeds)

14M 6.5M
Jun 30, 2025

8-K filing: Medicus Pharma Ltd. has agreed to acquire all of the issued and outstanding shares of Antev Limited in exchange for 2,666,600 Medicus common shares.

14M 6.5M
Jun 23, 2025

8-K filing: Medicus Pharma Ltd. appointed Andrew Smith as Chief Operating Officer, effective on or about June 30, 2025, with an annual base salary of $325,000 and a grant of 100,000 stock options.

14M 6.5M
Jun 02, 2025

8-K filing: Medicus Pharma Ltd. completed a public offering of 2,260,000 units at $3.10 per unit, with each unit consisting of one common share and one warrant, resulting in gross proceeds of $7,006,000. ($7.01M proceeds)

14M 6.5M
May 27, 2025

S-1 filing: Medicus Pharma Ltd. is offering 1,375,000 units, each consisting of one common share and one warrant to purchase one common share, at an assumed public offering price of $7.29 per Unit, for gross proceeds of up to approximately $10 million.

14M 6.5M
May 27, 2025

S-1 filing: Medicus Pharma Ltd. is offering 3,710,000 common shares and may receive up to $15,000,000 in aggregate gross proceeds under the SEPA.

14M 6.5M
May 12, 2025

10-Q filing | 12.2M shares outstanding

12M 0
Apr 28, 2025

8-K filing: Medicus Pharma Ltd. entered into a binding letter of intent to acquire all of the issued and outstanding shares of Antev Ltd. on a share exchange basis, with Medicus Pharma issuing 2,666,600 common shares, representing approximately 19% of the issued and outstanding common shares of the Company as of the date of the Letter Agreement.

13M 0
Apr 04, 2025

POS AM filing: Medicus Pharma Ltd. is offering 1,115,500 common shares issuable from time to time upon the exercise of 1,115,500 Public Warrants.

13M 0
Mar 28, 2025

10-K filing | 13.4M shares outstanding

13M 0
Mar 11, 2025

8-K filing: Medicus Pharma Ltd. completed an offering of 1,490,000 units, each consisting of one common share and one warrant, at a price of $2.80 per unit, resulting in gross proceeds of $4,172,000. ($4.17M proceeds)

16M 0
Feb 11, 2025

8-K filing: Medicus Pharma Ltd. entered into a Standby Equity Purchase Agreement with YA II PN, Ltd. for the sale of common shares up to $15,000,000, and issued 105,840 common shares to Yorkville as a structuring fee.

16M 0
May 29, 2024

F-1 filing: This F-1 filing from Medicus Pharma Ltd. outlines a proposed offering of up to $50,000,000 of common shares, preferred shares, warrants, subscription receipts, debt securities, or units comprised of more than one of the foregoing securities, or any combination thereof, in all of the provinces and territories of Canada over a 25-month period.

16M 0
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