Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) today announced the closing of its previously announced underwritten public offering of 10,309,280 common shares at a price of US$4.85 per share, generating gross proceeds of approximately US$50 million. Cantor and Barclays served as joint bookrunning managers for the offering, with Bloom Burton Securities and Lucid Capital Markets acting as lead managers.
The company plans to use the net proceeds to advance its clinical pipeline, including HLP003 for major depressive disorder, with Phase 3 APPROACH data expected in the fourth quarter of 2026, as well as HLP004 for generalized anxiety disorder and HLP005, while also supporting working capital and general corporate purposes. Helus Pharma paid the underwriters a cash commission of US$3 million in connection with the offering.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical stage pharmaceutical company focused on developing proprietary novel serotonergic agonists (NSAs) designed to activate serotonin pathways believed to promote neuroplasticity. The company's NSAs aim to address unmet needs in depression, anxiety, and other mental health conditions. HLP003, currently in Phase 3 for adjunctive treatment of major depressive disorder, has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. HLP004 is in Phase 2 for generalized anxiety disorder. Additionally, Helus Pharma has an extensive research portfolio of investigational NSAs.
The closing of this offering provides Helus Pharma with capital to fund key milestones, including the upcoming Phase 3 data readout for HLP003. If successful, HLP003 could offer a new treatment option for patients with major depressive disorder who have not responded adequately to existing therapies. The company operates in Canada, the United States, the United Kingdom, and Ireland. For more information, visit the company's newsroom at https://ibn.fm/HELP.
This press release was disseminated on behalf of Helus Pharma and may include paid advertising. The full press release is available at https://ibn.fm/bSYLT.
