Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) has announced the pricing of an underwritten public offering of 10.3 million common shares at $4.85 per share, generating gross proceeds of approximately $50 million. The offering is being led by Cantor and Barclays as joint bookrunning managers and is expected to close on June 25, 2026, subject to customary conditions and regulatory approvals.
The company intends to use the net proceeds to advance development of its HLP003 program for major depressive disorder, with Phase 3 APPROACH topline data expected in the fourth quarter of 2026. Additionally, funds will support the HLP004 program for generalized anxiety disorder and the HLP005 program. Remaining proceeds will be allocated to working capital and general corporate purposes.
This capital raise is a critical step for Helus Pharma as it progresses its pipeline of novel serotonergic agonists (NSAs) designed to activate serotonin pathways believed to promote neuroplasticity. The company’s lead candidate, HLP003, has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for adjunctive treatment of major depressive disorder, highlighting the potential significance of this therapy in addressing unmet mental health needs.
The offering provides Helus Pharma with financial runway to reach key clinical milestones. The upcoming Phase 3 data for HLP003 in late 2026 will be pivotal for the company's valuation and future regulatory submissions. Meanwhile, HLP004 is in Phase 2 development for generalized anxiety disorder, and HLP005 is at an earlier stage, indicating a broad pipeline targeting large markets with substantial unmet need.
Investors should note that this offering dilutes existing shareholders but provides necessary capital to advance high-potential programs. The involvement of reputable underwriters like Cantor and Barclays may lend credibility to the offering. However, the company faces risks typical of clinical-stage biotech, including regulatory hurdles and competition from other neuropsychiatric treatments.
For more details, the full press release is available at https://ibn.fm/yrchX. Additional updates on Helus Pharma can be found in the company’s newsroom at https://ibn.fm/HELP.
