Medicus Pharma Ltd.

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On October 23, 2026, Medicus Pharma Ltd. (the "Company") received written notice (the "Compliance Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it had regained compliance with the $1.00 minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"), and that the matter was now closed. The Compliance Notice supersedes the disclosure set forth in the following paragraph of this Item 3.01 regarding the Delisting Determination Letter (as defined below). For additional information regarding the Compliance Notice, see Item 8.01 of this Current Report on Form 8-K, which is incorporated by reference into this Item 3.01. On October 20, 2026, the Company received a delisting determination letter (the "Delisting Determination Letter") from the Listing Qualifications staff of Nasdaq indicating that the Company had not regained compliance with the Minimum Bid Price Requirement and that Nasdaq had determined to delist the Company's common shares, no par value (the "Shares"), and warrants from The Nasdaq Capital Market. As previously disclosed in the Company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC") on April 24, 2026, the Company received written notice from Nasdaq on April 21, 2026, indicating that the closing bid price of the Shares had been below $1.00 per share for the previous 30 consecutive business days, that the Company was therefore not in compliance with the Minimum Bid Price Requirement, and that the Company had 180 calendar days, or until October 19, 2026, to regain compliance. As the Company did not regain compliance with the Minimum Bid Price Requirement by October 19, 2026, and Nasdaq determined that the Company was not eligible for a second 180 calendar-day compliance period as it does not meet the minimum $5 million stockholders' equity requirement under the Initial Listing Criteria of the Nasdaq Capital Market, the Company received the Delisting Determination Letter, which was subsequently superseded and rendered moot by the Compliance Notice described above.

Item 8.01 Other Events. As described in Item 3.01 above, on October 23, 2026, the Company received the Compliance Notice from the Listing Qualifications Department of Nasdaq notifying the Company that Nasdaq had determined that for the last ten consecutive business days, from October 12, 2026 to October 23, 2026, the closing bid price of the Shares had been at $1.00 per Share or greater and that, accordingly, the Company had regained compliance with the Minimum Bid Price Requirement and that the matter was now closed. There can be no assurance that the Company will be able to maintain compliance with the Minimum Bid Price Requirement or Nasdaq's other continued listing requirements in the future.