[424B3] Medicus Pharma Ltd. Prospectus Filed Pursuant to Rule 424(b)(3)

Rhea-AI Filing Summary

Medicus Pharma Ltd. (Nasdaq: MDCX) has filed Prospectus Supplement No. 6 to its May 29, 2025 prospectus in connection with the potential resale of up to 3,710,000 common shares. The supplement attaches Amendment No. 1 to the Company’s June 30, 2025 Current Report, which formally files and incorporates by reference a Share Exchange Agreement dated June 29, 2025 among Medicus, Antev Limited and Antev security-holders.

The Agreement—filed as Exhibit 2.1—sets out the framework for a contemplated transaction involving Antev and the oncology/uro-oncology candidate Teverelix. While financial terms remain redacted, management states that the deal is expected to advance and commercialize Teverelix and open new market opportunities. The filing does not amend any other disclosures contained in the original 8-K.

The Company reiterates its emerging-growth-company status and reminds investors to review the “Risk Factors” section beginning on page 9 of the original prospectus. Shares continue to trade on the Nasdaq Capital Market; the most recent closing price (July 2, 2025) was $3.22.

No updated financial statements or pro-forma data are included in this supplement. Investors should therefore focus on potential dilution from the 3.71 million shares and on execution risks surrounding the Antev transaction, which is still subject to customary conditions.

Positive

• Filing of the Share Exchange Agreement increases transparency and moves the Antev transaction forward procedurally.
• Potential strategic upside from Antev’s Teverelix asset if development and commercialization milestones are met.
• Company maintains Nasdaq listing with recent share price disclosure, supporting liquidity.

Negative

• Registration covers up to 3.71 million shares, creating potential dilution and market overhang.
• Exhibit is redacted; investors still lack critical financial terms of the Antev exchange, limiting valuation analysis.
• Forward-looking statements underscore significant regulatory, development and market risks with no updated financial guidance.

Insights

M&A Specialist

TL;DR – Amendment simply files the Antev Share Exchange Agreement; no valuation or closing certainty yet, so market impact is limited.

The inclusion of the Agreement satisfies SEC requirements and adds transparency, but investors still lack visibility on consideration, earn-outs or integration timelines. Because the exhibit is heavily redacted, it is impossible to assess dilution versus strategic upside. Until definitive closing or financial metrics emerge, I view the disclosure as procedural rather than catalytic.

Securities Analyst

TL;DR – Share resale ceiling of 3.71 M shares could pressure MDCX (~$12 M at last price) but overall disclosure is neutral.

At $3.22, the registered shares equate to roughly 11 percent of the company’s equity market value, posing potential dilution overhang. However, no new financing terms are announced and the supplement merely aligns prior filings. The forward-looking commentary on Teverelix suggests strategic intent, yet execution risk remains. I assign a neutral impact pending additional data.

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-287582

PROSPECTUS SUPPLEMENT NO. 6

(to prospectus dated May 29, 2025)

Medicus Pharma Ltd.

Up to 3,710,000 Common Shares

This prospectus supplement amends and supplements the prospectus dated May 29, 2025, as supplemented or amended from time to time (the "Prospectus"), which forms a part of our Registration Statement on Form S-1 (Registration Statement No. 333-287582). This prospectus supplement is being filed to update and supplement the information included or incorporated by reference in the Prospectus with the information contained in our Amendment No. 1 to Current Report on Form 8-K, filed with the Securities and Exchange Commission on July 3, 2025 (the "Form 8-K/A"). Accordingly, we have attached the Form 8-K/A to this prospectus supplement.

This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement.

Our common shares are listed on The Nasdaq Capital Market ("Nasdaq") under the symbol "MDCX". On July 2, 2025, the last reported sales price of the common shares was $3.22.

We are an "emerging growth company" under applicable Securities and Exchange Commission rules and are eligible for reduced public company disclosure requirements.

Investing in our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the heading "Risk Factors" beginning on page 9 of the Prospectus, and under similar headings in any amendment or supplements to the Prospectus.

None of the Securities and Exchange Commission, any state securities commission or the securities commission of any Canadian province or territory has approved or disapproved of the securities offered by this prospectus supplement or the Prospectus or determined if the Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.

The date of this prospectus supplement is July 3, 2025.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________

FORM 8-K/A

(Amendment No. 1)

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 29, 2025

MEDICUS PHARMA LTD.
(Exact name of registrant as specified in its charter)

Ontario	001-42408	98-1778211
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

300 Conshohocken State Road, Suite 200
Conshohocken, Pennsylvania, United States 19428
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (610) 540-7515

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common shares, no par value		MDCX		NASDAQ Capital Market
Warrants, each exercisable for one common share at an exercise price of $4.64 per share		MDCXW		NASDAQ Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

Emerging growth company ☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Explanatory Note

This Current Report on Form 8-K/A amends the Current Report on Form 8-K filed by Medicus Pharma Ltd. (the "Company") on June 30, 2025 (the "Original Form 8-K") to (1) as previously indicated in the Original Form 8-K, file as Exhibit 2.1 to this Current Report on Form 8-K/A that certain securities exchange agreement among the Company, Antev Limited ("Antev") and certain securityholders of Antev, dated as of June 29, 2025 (the "Agreement"), and (2) to incorporate the Agreement by reference herein. Other than as set forth in this Explanatory Note, this amendment does not amend any other disclosures in the Original Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
2.1*#		Share Exchange Agreement, dated June 29, 2025, by and between Medicus Pharma Ltd., Antev Limited and each of the securityholders of Antev Limited party thereto.
104		Cover Page Interactive Data File (embedded within the inline XBRL document).

*		Certain portions of this exhibit have been redacted pursuant to Item 601(b)(2)(ii) of Regulation S-K. The Company agrees to furnish supplementally an unredacted copy of the exhibit to the Securities and Exchange Commission upon its request.
#		Certain schedules and exhibits have been omitted in accordance with Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule and/or exhibit will be furnished to the Securities and Exchange Commission upon request.

Forward Looking Statements

Certain information in this Current Report on Form 8-K constitutes "forward-looking information" under applicable securities laws. "Forward-looking information" is defined as disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action and includes, without limitation, statements regarding the proposed Antev transaction and associated terms and timing thereof, the potential benefits of the Antev transaction, if consummated, including plans and expectations concerning, and future outcomes relating to, the development, advancement and commercialization of Teverelix, and the potential market opportunities related thereto. Forward-looking statements are often but not always, identified by the use of such terms as "may", "on track", "aim", "might", "will", "will likely result", "would", "should", "estimate", "plan", "project", "forecast", "intend", "expect", "anticipate", "believe", "seek", "continue", "target" or the negative and/or inverse of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including those risk factors described in the Company's annual report on form 10-K for the year ended December 31, 2024 (the "Annual Report"), and in the Company's other public filings on EDGAR and SEDAR+, which may impact, among other things, the trading price and liquidity of the Company's common shares. Forward-looking statements contained in this Current Report on Form 8-K are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Readers are cautioned that the foregoing list is not exhaustive, and readers are encouraged to review the Annual Report accessible on the Company's profile on EDGAR at www.sec.gov and on SEDAR+ at www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

MEDICUS PHARMA LTD.
By:	/s/ Raza Bokhari
Name:	Dr. Raza Bokhari
Title:	Executive Chairman and Chief Executive Officer

Dated: July 3, 2025

FAQ

How many Medicus Pharma (MDCX) shares are covered by Prospectus Supplement No. 6?

The supplement registers the potential resale of up to 3,710,000 common shares.

What new document was filed with this prospectus supplement?

Medicus attached the Share Exchange Agreement dated June 29, 2025 between Medicus, Antev Limited and Antev security-holders.

Does the filing disclose financial terms of the Antev transaction?

No. Key portions are redacted under Regulation S-K; valuation and consideration details are not provided.

What was the last reported MDCX share price before the filing?

On July 2, 2025, Medicus Pharma’s common shares closed at $3.22 on Nasdaq.

Why is Medicus classified as an emerging growth company?

Under SEC rules, emerging growth companies benefit from reduced disclosure requirements, which Medicus has opted to use.