Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced the closing of its underwritten public offering of 10,309,280 common shares at US$4.85 per share, generating gross proceeds of approximately US$50 million. 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.
The net proceeds are earmarked to advance Helus Pharma's clinical pipeline, including HLP003 for major depressive disorder, with Phase 3 APPROACH data expected in the fourth quarter of 2026. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Additionally, funds will support HLP004 for generalized anxiety disorder, currently in Phase 2, and HLP005, as well as working capital and general corporate purposes.
Helus Pharma, the commercial operating name of Cybin Inc., founded in 2019, is a clinical stage pharmaceutical company developing proprietary novel serotonergic agonists (NSAs) designed to activate serotonin pathways believed to promote neuroplasticity. The company aims to address unmet needs in depression, anxiety, and other mental health conditions. For more details, the full press release can be accessed at https://ibn.fm/bSYLT.
The capital raise comes as Helus Pharma progresses its lead candidate HLP003 into late-stage development. With positive Phase 2 data previously reported, the company is positioning itself to potentially offer a new treatment option for major depressive disorder, a condition affecting millions globally. The concurrent development of HLP004 and HLP005 highlights the company's strategy to build a portfolio of NSA therapies for various mental health indications.
Investors and stakeholders can follow company updates at https://ibn.fm/HELP or visit www.helus.com. The company operates in Canada, the United States, the United Kingdom, and Ireland.
The successful closing of this offering provides Helus Pharma with financial runway to execute its clinical milestones, which are critical for regulatory submissions and potential commercialization. The involvement of major underwriters like Cantor and Barclays signals institutional confidence in the company's scientific approach and market potential.
