Medicus Pharma jumps as SkinJect explores $135M SPAC deal

Medicus Pharma (MDCX) announced plans for its subsidiary SkinJect to merge with a SPAC, valuing it at $135 million. The deal aims to create a separate public company, with Medicus retaining majority ownership. Proceeds will support clinical trials and regulatory filings for SkinJect's Gorlin syndrome treatment. The transaction is expected to close in the first half of 2027.

Medicus Pharma (MDCX) announced a non-binding LOI for a proposed business combination of its subsidiary SkinJect with an undisclosed SPAC. The deal aims to create a separately listed company for SkinJect, with Medicus retaining majority ownership. SkinJect is developing a patch for Gorlin syndrome, a rare skin cancer condition. The transaction is subject to due diligence, regulatory approvals, and other conditions, with an expected close in the first half of 2027, though there is no guarantee.

Medicus Pharma (MDCX) outlined its strategy to advance clinical and regulatory milestones, focusing on partnerships and licensing deals. The company's pipeline includes CD228V for melanoma and other cancers, and SkinJect for Gorlin syndrome. Medicus has raised $90M to support development and operations, according to the shareholder update.

Medicus Pharma (MDCX) proposed a redesigned trial for its prostate cancer drug Teverelix, aiming to cut enrollment by 60% and position it for licensing. The company submitted a Phase 2b/3 protocol to the FDA, seeking to reduce development time and costs. The FDA has not yet agreed to the proposed pathway. Medicus plans to use the feedback to attract a pharmaceutical partner.

Medicus Pharma (MDCX) submitted a Phase 2b/3 trial design for Teverelix to the FDA, aiming to reduce the patient count from 1,500 to 600. The trial focuses on prostate cancer patients with cardiovascular risk. The company seeks a strategic partner for the program, with clinical readiness expected by year-end. FDA approval is not guaranteed, and no licensing deal is assured.

Medicus Pharma (MDCX) will focus SkinJect development exclusively on Gorlin syndrome patients with multiple basal cell carcinoma lesions, per its portfolio strategy. The FDA's concerns and the company's engagement with the agency influenced this decision. The Gorlin program follows a completed Phase 2 study and an authorized Phase 2b study set for July 2026.