Medicus Pharma, headquartered in Conshohocken, completed its $4 million ipo on the Nasdaq last Thursday, reports John George for the Philadelphia Business Journal.

The company sold 970,000 shares at $4.125 each. The total proceeds could increase by $600,000 if underwriters fully exercise their option to buy an additional 145,500 shares.

Medicus is already listed on the Toronto Stock Exchange. The U.S. listing aims to broaden its investor base and support its model of acquiring and developing novel therapies. Medicus Pharma treats skin cancer using SkinJect, a dissolvable micro-needle patch containing doxorubicin, invented by Dr. Louis D. Falo from the University of Pittsburgh.

SkinJect targets basal cell carcinoma, affecting around 2 million patients annually and representing 80% of skin cancer cases. This non-surgical, cost-effective treatment could capture a $2 billion market share in the broader $20 billion market for basal cell carcinoma. Key shareholders include Dr. Kenneth Melani, Ajay Raju, and CEO Dr. Raza Bokhari.

Medicus follows ArriVent Biopharma as the second Philadelphia-area firm to go public this year. ArriVent, which raised $175 million in January, focuses on bringing Chinese-developed biopharmaceuticals to Western markets.

Read more about Medicus Pharma’s ipo in the Philadelphia Business Journal.