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, led by joint bookrunning managers Cantor and Barclays, is anticipated to close on June 25, 2026, subject to customary conditions and regulatory approvals. This capital raise comes at a pivotal time for the company as it advances its pipeline of novel serotonergic agonists (NSAs) designed to treat major depressive disorder (MDD), generalized anxiety disorder (GAD), and other mental health conditions.
The company intends to use the net proceeds primarily to accelerate development of its lead candidate, HLP003, which is currently in Phase 3 clinical trials for the adjunctive treatment of MDD. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration, underscoring its potential to address a significant unmet need. Topline data from the Phase 3 APPROACH study are expected in the fourth quarter of 2026. Additionally, funds will support the HLP004 program for GAD, now in Phase 2, and the HLP005 program. Remaining proceeds will be allocated to working capital and general corporate purposes.
The announcement carries substantial implications for patients and investors alike. With depression affecting over 280 million people globally and many not responding to existing treatments, HLP003's novel mechanism—promoting neuroplasticity through serotonin pathway activation—could offer a durable improvement in mental health. The successful completion of this offering would provide Helus Pharma with the financial runway to generate pivotal data that could reshape the treatment landscape. For the company, reaching Phase 3 with a breakthrough-designated asset is a significant de-risking milestone, and the $50 million injection signals confidence from underwriters and the market.
Helus Pharma, the commercial operating name of Cybin Inc., founded in 2019, is a clinical-stage pharmaceutical company focused on developing proprietary NSAs. The company operates in Canada, the United States, the United Kingdom, and Ireland. For more details on the offering, the full press release is available at https://ibn.fm/yrchX. The latest news and updates relating to HELP are available in the company’s newsroom at https://ibn.fm/HELP.
