Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCD, FRANKFURT: HBP0), a clinical-stage oncology company, announced its financial results for the three- and six-month periods ended January 31, 2026, revealing a net loss of $694,000 and $1,702,000, respectively. This represents a decrease in loss compared to the same periods in 2025, primarily due to the closure of its LDOS006 clinical trial in metastatic pancreatic adenocarcinoma and reduced research activities. However, the company's cash position has dwindled to $31,000 as of January 31, 2026, down from $1,996,000 a year earlier, raising substantial doubt about its ability to fund operations for the next twelve months.
The company's CEO, Thomas Mehrling, MD, PhD, emphasized the challenging capital markets environment for small-cap biotech firms but expressed cautious optimism about securing financing to provide approximately twelve months of operating runway. Key to this strategy is the pursuit of a listing on a U.S. securities exchange. The company had previously entered into a subscription agreement with Quantum Global Ventures AG for gross proceeds of $33,370,000, but Quantum declared bankruptcy, and the financing did not close. Subsequently, Helix signed a term sheet with Alumni Capital Limited, though specific terms remain undisclosed due to confidentiality obligations.
The financial results and strategic updates are detailed in the company's Interim Filings, available on SEDAR+ at www.sedarplus.ca and on the company's website at https://www.helixbiopharma.com/filings-and-financials/. The company's pipeline includes L-DOS47, a clinical-stage antibody-enzyme conjugate targeting CEACAM6-expressing tumors, which has completed Phase Ib studies in non-small cell lung cancer. Additionally, Helix is advancing pre-IND candidates LEUMUNA™ and GEMCEDA™.
The implications of this announcement are significant for Helix BioPharma's stakeholders. The company's depleted cash reserves and the failure of the Quantum Global Ventures financing underscore the critical need for new capital. Without successful financing, the company may be unable to continue its research and development activities or achieve its near-term objectives, including the U.S. exchange listing. The outcome of negotiations with Alumni Capital and other potential financiers will be pivotal in determining the company's trajectory.
Forward-looking statements in the release involve risks and uncertainties, including the ability to secure financing and the potential benefits of the transactions. The company does not assume any obligation to update these statements except as required by law. For more information, visit the company's website at https://www.helixbiopharma.com/.
