Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced Monday that Michael Cola has stepped down as Chief Executive Officer effective immediately at the request of the Board. Co-founder and Executive Chairman Eric So has been appointed Interim CEO while a search for a permanent successor is underway. The company stated that the leadership transition is intended to ensure continuity as it advances its clinical pipeline, particularly the anticipated fourth-quarter topline data readout from the APPROACH trial of HLP003, while maintaining focus on long-term value creation for patients and shareholders.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical stage pharmaceutical company developing proprietary novel serotonergic agonists (NSAs) designed to activate serotonin pathways believed to promote neuroplasticity. Its lead candidate, HLP003, is in Phase 3 clinical development for the adjunctive treatment of major depressive disorder and has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Additionally, HLP004 is in Phase 2 for generalized anxiety disorder. The company also has an extensive research portfolio of investigational NSAs.
The leadership change comes at a critical juncture as Helus Pharma prepares for the APPROACH trial readout, which could be a significant catalyst for the stock. The company's NSAs aim to address the large unmet need for people suffering from depression, anxiety, and other mental health conditions. With class-leading data, Helus Pharma aims to improve the treatment landscape by introducing NSAs that provide durable improvements in mental health.
For more details on the announcement, the full press release is available at https://ibn.fm/3Gp8X. The latest news and updates relating to HELP are available in the company’s newsroom at https://ibn.fm/HELP.
Helus Pharma operates in Canada, the United States, the United Kingdom and Ireland. For company updates, visit www.helus.com or follow the team on X, LinkedIn, YouTube and Instagram.
