Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced the closing of its previously announced underwritten public offering of 10,309,280 common shares at a price of US$4.85 per share, generating gross proceeds of approximately US$50 million. Cantor and Barclays served as joint bookrunning managers for the offering, with Bloom Burton Securities and Lucid Capital Markets acting as lead managers.
The company said it plans to use the net proceeds to advance its clinical pipeline, including HLP003 for major depressive disorder, with Phase 3 APPROACH data expected in the fourth quarter of 2026, as well as HLP004 for generalized anxiety disorder and HLP005, while also supporting working capital and general corporate purposes. Helus Pharma paid the underwriters a cash commission of US$3 million in connection with the offering.
The completion of this offering provides Helus Pharma with substantial capital to fund its late-stage clinical trials. HLP003, a proprietary novel serotonergic agonist (NSA), is currently in Phase 3 development for the adjunctive treatment of major depressive disorder and has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. The upcoming Phase 3 APPROACH data readout in the fourth quarter of 2026 is a critical milestone for the company. Additionally, HLP004 is in Phase 2 for generalized anxiety disorder, and HLP005 represents an early-stage investigational candidate.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical stage pharmaceutical company committed to helping minds heal by developing proprietary NSAs – synthetic molecules designed to activate serotonin pathways that are believed to promote neuroplasticity. The company's NSAs aim to address the large unmet need for people who suffer from depression, anxiety, and other mental health conditions. With class leading data, Helus Pharma aims to improve the treatment landscape through the introduction of NSAs that aim to provide durable improvements in mental health.
The company operates in Canada, the United States, the United Kingdom and Ireland. For Company updates and to learn more about Helus Pharma, visit www.helus.com or follow the team on X, LinkedIn, YouTube and Instagram. The latest news and updates relating to HELP are available in the company’s newsroom at https://ibn.fm/HELP.
This press release has been disseminated on behalf of Helus Pharma and may include paid advertising. For full press release, visit https://ibn.fm/bSYLT.
