A cutting-edge non-invasive skin cancer treatment is advancing through Phase 2 trials1, positioning itself to disrupt this rapidly growing market. Spearheading this breakthrough is high-growth biotech stock Medicus Pharma (NASDAQ: MDCX), with its proprietary microneedle patch for basal cell carcinoma (BCC)—a potential game-changer for patients in need of better options.
#Why This Deserves Your Attention
Innovative treatment option for the 5 million+ basal cell carcinoma cases diagnosed annually in the U.S.1
$7B+ market opportunity
Analyst price targets of $10 (Maxim Group) and $12 (Brookline Capital)2 (over 240% and 300% upside based on $2.90 closing price on 4 March 2025)
(Note: Analyst targets are based on projections and assumptions that may not materialize.)Strong IP protection with patents through to 2035
Backed by university-developed technology
Phase 2 trial progress with a clear regulatory path
Every year, there are over 5 million basal cell carcinoma cases1 in the United States, and this number is rising. In fact, basal cell carcinoma is the most common form of skin cancer worldwide3. The current standard of care is Mohs surgery, but limited surgeon availability, facility constraints, patient eligibility, insurance coverage, and the procedure’s time-intensive nature result in approximately only 870,000 surgeries performed annually2. Leaving many newly diagnosed patients with limited options.
That's why Medicus Pharma's proprietary solution is set to transform the market with its innovative design. Addressing a $7B+ annual market opportunity in BCC treatment, Medicus’s wholly owned subsidiary SkinJect is developing a first-in-class, non-invasive microneedle patch designed to revolutionize BCC management.
SkinJect’s skin absorption delivery method directly targets cancer cells, minimizing systemic exposure and side effects. Better still, the SkinJect patch can be easily administered during a 30-minute office visit, requiring just three applications over two weeks—making it a more accessible and convenient option than surgery.
Unlike Mohs surgery, which requires specialized surgeons, a broader range of healthcare professionals can be trained to apply the patch, expanding patient access. Additionally, its delivery method may help prevent recurrence by triggering an immunogenic response, offering potential long-term benefits beyond initial treatment.
With patents secured through 2035, Medicus Pharma’s lead asset is progressing through a Phase 2 clinical trial, targeting a streamlined regulatory pathway to commercialization.
#Bullish Analyst Estimates
Independent analysts, Maxim Group and Brookline Capital Markets have issued price targets of $10 & $122, reflecting potential upside based on clinical progress, expected market share, and regulatory approvals. These estimates assume successful commercialization by 2027 and represent a potential 4x return from the current share price of $2.90 on 4 March 2025.
What drives their bullish outlook? It comes from the company's ability to price its treatment at approximately $1,000, offering a cost-effective alternative to Mohs surgery, which typically costs between $1,800 and $2,500 per procedure1.
#Competitive Market Advantage
| Feature | Medicus Pharma (MDCX) - SkinJect | Traditional BCC Treatment (Mohs Surgery) |
| Method | Non-invasive microneedle patch | Surgical removal |
| Typical Time to Complete Treatment | 21 days1 | 215 days5 |
| Aesthetic Impact | No scarring | Scarring common |
| Immune Activation | Yes | No |
| Projected Cost | $1,0001 | $1,800-$2,500+1 |
Unlike other developing therapies, SkinJect is the only fully dissolvable microneedle patch currently in Phase 2 trials for BCC. For this reason, its novel solution doesn’t have a comparable product with regard to its delivery approach.
Other methods of treating BCC exist on the market, but Medicus Pharma believes its SkinJect product has added patient and cost benefits over the other treatments.
Medicus Pharma sees strong potential for SkinJect, but investors should consider clinical, regulatory, and market adoption risks, including physician acceptance and insurance coverage.
#Accelerated Market Entry
As Medicus Pharma advances toward potential regulatory approval, it stands out as a biotech innovator with a de-risked asset and a clear growth strategy, targeting a high-value market opportunity.
The company has now randomized over 50% of the expected 60 patients in its United States SKNJCT-003 Phase 2 trial. The double-blind, placebo-controlled, multicenter study spans nine sites across the United States to evaluate its skin patch.
By leveraging a proven compound with an established safety profile, Medicus Pharma is strategically positioning itself for a faster commercialization process in the U.S. The company plans to submit interim data to the FDA in Q2 2025, following an expedited regulatory pathway designed for well-studied compounds. This approach could significantly accelerate SkinJect’s path to market, circumventing the need for a Phase 3 trial.
Furthermore, the company has submitted an application to conduct an off-shoot of this Phase 2 trial in the UAE4, SKNJCT-004, further expanding its potential market opportunity.
Aside from progressing with its lead asset SkinJect, Medicus aims to grow its pipeline through acquisitions and partnerships to deliver innovative products with strong commercial potential. The company has no long-term debt and a deep commitment to treat shareholders equally.
Indeed, Medicus Pharma is led by an experienced management team and board with around 200 years of collective expertise in drug development, biotech, big pharma, and capital markets. As investor-operators, they are strongly aligned with shareholder interests. The CEO personally invested nearly $4 million, and management also has a notable stake.
#Reasons to Invest
First-in-Class, Patent-Protected Innovation
Medicus Pharma is developing a novel, targeted therapy for basal cell carcinoma (BCC) - the most common cancer worldwide. With strong patent protection, it offers a groundbreaking and cheaper alternative to surgery. The SkinJect patch can be applied during a weekly 30-minute office visit over three visits in two weeks. It is non-invasive, relatively painless, cost-effective, and aesthetically pleasing.
De-Risked Asset with Strong Clinical Progress
SkinJect delivers precisely controlled measures, ensuring effective treatment with minimal exposure. It has undergone pre-clinical, safety and tolerability studies. Phase 2 interim trial data shows positive progress, and the potential for a Type C FDA meeting in Q2 2025 could qualify it for an expedited regulatory review process as a novel, non-invasive BCC therapy, subject to FDA requirements.
Industry Veterans with Big Pharma Backgrounds
Medicus Pharma’s management and board include industry veterans from Pfizer, Novartis, and GSK, with proven success in pharmaceutical research, regulatory approvals, and commercialization.
Strong Financial Position & Shareholder Alignment
Medicus Pharma has sufficient cash to fund operations through its Phase 2 trial. It has no long-term debt and minimal warrant overhang, ensuring financial flexibility. Its simple share structure, with no preferred shares or special deals, treats all shareholders equally. The CEO has invested nearly $4M, with the leadership team contributing over $1.5M.
Large Market Opportunity
The SkinJect patch addresses an unmet medical need with a significantly larger total addressable market (TAM) than many blockbuster cancer treatments. It also anticipates far lower development costs, with anticipated costs in the region of $75M to $100M, substantially lower than top-selling cancer therapies, which can cost billions of dollars to produce. With 5 million new cases of basal cell carcinoma each year, its market far exceeds the 300,000 to 500,000 TAM for leading pharmaceuticals targeting breast, prostate, lung, and hematologic cancers. This high demand creates room for multiple treatment options, positioning SkinJect as a strong competitor in the space.
#A New Era in Skin Cancer Therapy
Medicus Pharma’s SkinJect patch is developing a first-in-class, non-invasive alternative to surgery, targeting a $15 billion+ annual market for BCC treatment. With a strategic business model and strong analyst interest, MDCX is positioning itself as a potential industry disruptor. Want to see how?