UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 5,019,755	$ 8,705,218
Prepaid expenses and other current assets	1,352,609	1,086,121
Deferred financing costs	0	99,305
Total current assets	6,372,364	9,890,644
Restricted cash	8,075,075	0
Operating lease right-of-use assets	89,240	170,733
Total assets	14,536,679	10,061,377
Current liabilities
Accounts payable	2,134,134	3,435,297
Accrued expenses and other current liabilities	1,048,825	995,290
Related party payable	162,649	116,476
Operating lease liability, current	107,926	145,456
Debentures and secured promissory notes, current	6,000,000	5,245,543
Interest payable on secured promissory notes, current	289,710	0
Total current liabilities	9,743,244	9,938,062
Debentures and secured promissory notes, non-current	14,986,161	0
Interest payable on secured promissory notes, non-current	283,886	0
Loan payable	13,145	25,865
Operating lease liability, non-current	0	60,139
Total liabilities	25,026,436	10,024,066
Commitments and contingencies
Shareholders' (deficit) equity
Common shares, no par value; unlimited shares authorized; 1,850,418 and 503,526 shares issued and outstanding as of September 30, 2026, and December 31, 2025, respectively	80,596,102	57,076,175
Common shares to be issued	0	313,934
Additional paid-in capital	9,016,481	6,879,575
Accumulated other comprehensive income	40,144	10,880
Accumulated deficit	(100,189,301)	(64,348,118)
Total shareholders' (deficit) equity attributable to Medicus Pharma Ltd.	(10,536,574)	(67,554)
Non-controlling interests	46,817	104,865
Total shareholders' (deficit) equity	(10,489,757)	37,311
Total liabilities and shareholders' (deficit) equity	$ 14,536,679	$ 10,061,377