Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced the closing of its previously announced underwritten public offering, generating gross proceeds of approximately US$50 million. The offering consisted of 10,309,280 common shares priced at US$4.85 per share. Cantor and Barclays served as joint bookrunning managers, with Bloom Burton Securities and Lucid Capital Markets acting as lead managers. The company paid a cash commission of US$3 million to the underwriters in connection with the offering.
Helus Pharma plans to use the net proceeds to advance its clinical pipeline, including HLP003 for major depressive disorder (MDD), which is in Phase 3 development. The company expects to report Phase 3 APPROACH data in the fourth quarter of 2026. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Additionally, the funds will support HLP004 for generalized anxiety disorder, currently in Phase 2, and HLP005, along with working capital and general corporate purposes.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical-stage pharmaceutical company developing proprietary novel serotonergic agonists (NSAs)—synthetic molecules designed to activate serotonin pathways believed to promote neuroplasticity. The company aims to address the large unmet need for people suffering from depression, anxiety, and other mental health conditions. With class-leading data, Helus Pharma intends to improve the treatment landscape through NSAs that provide durable improvements in mental health.
The company operates in Canada, the United States, the United Kingdom, and Ireland. For more information, visit www.helus.com or follow the team on social media. The full press release is available at https://ibn.fm/bSYLT.
