FORM 10-Q (MARK ONE) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedJune 30, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number:001-42408 MEDICUS PHARMA LTD. (Exact Name of Registrant as Specified in Its Charter) (610) 636-0184(Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smallerreporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Yes☐No☒ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of August 10, 2026, there were 63,180,610 common shares, no par value, issued and outstanding. MEDICUS PHARMA LTD. FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2026 PART I - FINANCIAL INFORMATION2Item 1. Interim Financial Statements2Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations11Item 3. Quantitative and Qualitative Disclosures About Market Risk21Item 4. CONTROLS AND PROCEDURES21PART II - OTHER INFORMATION21Item 1. Legal Proceedings21Item 1A. Risk Factors21Item 2. Unregistered Sales of Equity Securities and Use of Proceeds22Item 3. Defaults Upon Senior Securities22Item 4. Mine Safety Disclosures22Item 5. Other Information22Item 6. Exhibits23SIGNATURES25 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Quarterly Report") contains forward-looking statements within the meaning of Section27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, asamended (the "Exchange Act"), as well as forward-looking information within the meaning of applicable Canadian securities laws,that involve substantial risks and uncertainties. All statements, other than statements of historical facts contained in this QuarterlyReport regarding our strategy, future operations, future financial position, projected costs, prospects, plans, and objectives ofmanagement are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other importantfactors that may cause our actual results, performance, or achievements to be materially different from any future results, performance,or achievements expressed or implied by the forward-looking statements. The words "anticipate," "believe," "estimate," "expect,""intend," "may," "plan," "predict," "project," "will," "would," or the negative of such terms and similar expressions are intended toidentify forward-looking statements, although not all forward-looking statements contain these identifying words. Such statements arebased on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties, and other factors,many of which cannot be predicted with accuracy and some of which might not even be anticipated. The forward-looking statements in this Quarterly Report include, among other things, statements about: our financial results, including our ability to continue as a going concern, generate earnings and achieve and sustainprofitability, which may vary significantly from forecasts and from period to period;the progress, timing and completion of our research, development and preclinical studies and clinical trials for ourproducts and product candidates, and any progress or developments regarding the regulatory approvals sought andprocess related thereto;our ability to successfully integrate Antev Limited into our business and operations, successfully d