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Medicus Pharma Ltd. Gains UAE Approval for Phase 2 Basal Cell Carcinoma Study

Story Highlights
  • Medicus Pharma Ltd. is a biotech company focusing on novel therapeutic developments.
  • The company received UAE approval for a Phase 2 study on non-invasive basal cell carcinoma treatment.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Medicus Pharma Ltd. Gains UAE Approval for Phase 2 Basal Cell Carcinoma Study

Confident Investing Starts Here:

Medicus Pharma Ltd ( (MDCX) ) just unveiled an update.

Medicus Pharma Ltd. has received approval from the UAE Department of Health to commence a Phase 2 clinical study to non-invasively treat basal cell carcinoma of the skin. This study will involve 36 participants across four clinical sites in the UAE, including Cleveland Clinic Abu Dhabi. The study aims to evaluate the efficacy of different doses of D-MNA, a treatment previously shown to be safe and effective in Phase 1 trials. This development is part of Medicus’s broader strategy to expand its clinical trials globally and enhance its market position in the biotech industry.

The most recent analyst rating on (MDCX) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Medicus Pharma Ltd stock, see the MDCX Stock Forecast page.

Spark’s Take on MDCX Stock

According to Spark, TipRanks’ AI Analyst, MDCX is a Underperform.

Medicus Pharma Ltd’s financial difficulties, characterized by the absence of revenue and consistent losses, are the most significant concerns. While technical indicators show some positive momentum, the negative valuation metrics underscore investor caution about long-term profitability.

To see Spark’s full report on MDCX stock, click here.

More about Medicus Pharma Ltd

Medicus Pharma Ltd. is a biotech/life sciences company focused on accelerating the clinical development of novel and disruptive therapeutic assets. Its subsidiary, SkinJect Inc., specializes in developing non-invasive treatments for basal cell skin cancer using patented dissolvable microneedle patches to deliver chemotherapeutic agents.

Average Trading Volume: 105,162

Current Market Cap: $102.8M

Find detailed analytics on MDCX stock on TipRanks’ Stock Analysis page.

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