Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) has priced an underwritten public offering of 10.3 million common shares at $4.85 per share, expected to generate gross proceeds of approximately $50 million. The offering, managed by Cantor and Barclays as joint bookrunning managers, is anticipated to close on June 25, 2026, pending regulatory approvals and customary conditions.
The company plans to allocate the net proceeds primarily toward advancing its HLP003 program for major depressive disorder (MDD), with Phase 3 APPROACH topline data expected in the fourth quarter of 2026. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Additional funds will support the HLP004 program for generalized anxiety disorder, currently in Phase 2, and the HLP005 program. Remaining proceeds will be used for working capital and general corporate purposes.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical-stage pharmaceutical company focused on developing proprietary novel serotonergic agonists (NSAs) designed to activate serotonin pathways believed to promote neuroplasticity. These synthetic molecules aim to address the large unmet need for individuals suffering from depression, anxiety, and other mental health conditions. The company's pipeline includes HLP003 in Phase 3 for adjunctive treatment of MDD and HLP004 in Phase 2 for generalized anxiety disorder, along with an extensive portfolio of investigational NSAs.
This offering comes at a critical time as mental health disorders continue to affect millions globally, with limited effective treatment options. The funding will enable Helus Pharma to accelerate clinical development and potentially bring novel therapies to market. For more details, refer to the full press release at https://ibn.fm/yrchX.
Helus Pharma operates in Canada, the United States, the United Kingdom, and Ireland. The company's class-leading data aims to improve the treatment landscape by providing durable improvements in mental health. Investors can find the latest news and updates at https://ibn.fm/HELP.
