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.
According to the company, net proceeds will primarily support the advancement of its HLP003 program for major depressive disorder (MDD), with Phase 3 APPROACH topline data expected in the fourth quarter of 2026. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Funds will also be allocated to the HLP004 program for generalized anxiety disorder, currently in Phase 2, and the HLP005 program. Remaining proceeds will be used for working capital and general corporate purposes.
This financing comes as Helus Pharma, the commercial operating name of Cybin Inc., focuses on developing proprietary novel serotonergic agonists (NSAs) designed to activate serotonin pathways believed to promote neuroplasticity. The company aims to address the large unmet need for individuals suffering from depression, anxiety, and other mental health conditions. With class-leading data, Helus Pharma intends to improve the treatment landscape through NSAs that provide durable improvements in mental health.
The offering's success underscores investor confidence in Helus Pharma's pipeline, particularly as the company approaches key milestones. For more details, the full press release is available at https://ibn.fm/yrchX. Further updates and information about Helus Pharma can be found at www.helus.com.
