MDCXWMEDIUM SIGNALFINANCIAL10-K

MDCXW substantially increased its share count from 13.4 million to 39.4 million shares outstanding while current assets grew meaningfully to $9.9M from $5.4M.

The nearly tripling of outstanding shares suggests significant dilutive equity financing activity, which is common for biotech companies requiring capital to fund clinical development programs. The concurrent substantial increase in current assets indicates the company successfully raised capital, likely to support its SkinJect basal cell carcinoma treatment development program.

Comparing 2026-03-25 vs 2025-03-28View on EDGAR →
FINANCIAL ANALYSIS

The company's balance sheet shows a meaningful strengthening with current assets growing substantially to $9.9M and total assets reaching $10.1M, representing notable increases from the prior period. This asset expansion coincides with a dramatic increase in share count to 39.4 million shares, indicating the company completed significant equity financing to bolster its cash position. The overall financial picture suggests successful capital raising activities that should provide funding runway for the biotech's clinical development initiatives, though at the cost of substantial shareholder dilution.

FINANCIAL STATEMENT CHANGES
Current Assets
Balance Sheet
+83.9%
$5.4M→$9.9M

Current assets grew 83.9% — improving short-term liquidity or inventory/receivables build.

Total Assets
Balance Sheet
+78.2%
$5.6M→$10.1M

Asset base grew 78.2% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-03-25
PRIOR — 2025-03-28
ADDED
As of March 17, 2026, there were 39,362,109 common shares, no par value, issued and outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 71 Item 7A.
In some cases, you can identify forward-looking statements by terminology such as "may", "on track", "aim", "might", "will", "will likely result", "could," "designed," "would", "should", "estimate", "plan", "project", "forecast", "intend", "expect", "anticipate", "believe", "seek", "continue", "target", "potential" or the negative and/or inverse of such terms or other similar expressions.
On September 29, 2023, the Company completed a business combination (the "Business Combination") with SkinJect Inc.
("SkinJect"), a company existing under the laws of Pennsylvania.
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REMOVED
As of March 18, 2025, there were 13,414,801 common shares, no par value, issued and outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 77 Item 7A.
In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "continue," or the negative of such terms or other similar expressions.
On September 29, 2023, we completed a business combination (the "Business Combination") with SkinJect, Inc., a Pennsylvania corporation ("SkinJect"), pursuant to a business combination agreement dated May 12, 2023, as amended, among the Company, SkinJect and RBx Capital, LP ("RBx"), an investment entity owned and managed by Dr.
We are a biotech/life sciences company focused on accelerating the clinical development programs of novel and disruptive therapeutic assets.
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