On March 5, 2026 Medicus Pharma Ltd. (NASDAQ: MDCX) ("Medicus" or the "Company"), a biotech/life sciences company focused on advancing the clinical development programs of novel and potentially disruptive therapeutics assets, reported topline results from its Phase 2 clinical study (SKNJCT-003) evaluating safety and efficacy of Doxorubicin Microneedle Array (D-MNA) to non-invasively treat basal cell carcinoma (BCC) of the skin.

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The Company believes the topline results are not only positive but decision-grade that should support an end of phase 2 (EOP2) meeting with the FDA in the first half of 2026 as well as accelerate partnering readiness.

SKNJCT-003 Clinical Trial Design and Topline Results:

The SKNJCT-003 clinical study was designed as a randomized, double-blind, placebo-controlled (P-MNA), multi-center study enrolling 90 patients presenting with nodular type BCC of the skin. The study evaluated the safety and efficacy of two dose levels of D-MNA compared to placebo control.

Participants were randomized 1:1:1 into three groups:

Placebo-controlled group receiving P-MNA
Low-dose group receiving 100μg of D-MNA
High-dose group receiving 200μg of D-MNA
The primary endpoint for treatment of BCC is a binary, multi-component endpoint defined as achieving both clinical and histological clearance (i.e. the proportion of patients demonstrating both clinical (visual) clearance and histological clearance (CR) at a prespecified post-treatment timepoint.

The prespecified post-treatment timepoints at the end of the study were:

Day 29 for 47 patients
Day 57 for 43 patients
The Topline results are tabulated below:

Dose # of
patients(n) Day 29 post-treatment # of
patients(n) Day 57 post-treatment
47 Clinical Clearance Histological Clearance (CR) 43 Clinical Clearance Histological Clearance (CR)
Placebo 15 33% 20% 16 38% 38%
100ug D-MNA 17 47% 24% 12 42% 33%
200ug D-MNA 15 40% 27% 15 73% 40%

The dataset demonstrates that clearance rates increased between Day 29 and Day 57, consistent with continued biological activity over time. The 200µg cohort demonstrated the highest observed activity at Day 57, achieving 73% Clinical Clearance and 40% Histological Clearance (CR).

"We are extremely encouraged by these topline results, which not only validate management’s scientific and investment thesis, but also provide what we consider to be decision-grade evidence of clinical activity, particularly at the 200-microgram dose level," said Dr. Raza Bokhari, Executive Chairman & CEO of Medicus.

"The observed increase in clearance rates at Day 57 in the higher-dose cohort reinforces the sustained biological activity of SkinJect and supports advancement into the next stage of development. Importantly, we believe this dataset strengthens our position in ongoing and prospective partnering discussions and may accelerate strategic engagement as we evaluate optimal pathways for value creation."

Clinical Study Report and Regulatory Pathway:

These results reflect the analysis of the primary and key secondary efficacy endpoints. Final compilation of the Clinical Study Report (CSR), including full safety analyses and procedural observations such as post-excisional biopsy site assessments, remains ongoing and is expected to be completed in Q2 2026. The Company does not anticipate material changes to the reported efficacy findings.

The SKNJCT-003 study was not powered for registrational endpoints and no conclusions regarding regulatory approval or the outcome of the planned EOP2 meeting with the FDA can be drawn at this time, there can be no assurance that SKNJCT-003 will be granted regulatory approval from the FDA.

Strategic Focus on Phase 2 De-Risking and Partnering

Medicus’ development strategy is to advance select programs through Phase 2 proof-of-concept and pursue licensing or strategic partnerships with established pharmaceutical companies for late-stage development and commercialization.

The Company continues to assemble decision-grade clinical and regulatory data packages across its portfolio to support this partnering-focused model.

(Press release, Skinject, MAR 5, 2026, View Source [SID1234663325])