Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced that Michael Cola has stepped down as Chief Executive Officer effective immediately at the request of the Board. Co-founder and Executive Chairman Eric So has been appointed as Interim CEO while a search for a permanent successor is underway. The leadership transition aims to ensure continuity as the company advances its clinical pipeline, including the anticipated fourth-quarter topline data readout from the APPROACH trial of HLP003, while maintaining focus on long-term value creation for patients and shareholders.
Eric So, who co-founded Helus Pharma in 2019, brings deep institutional knowledge and strategic vision to the interim role. The company emphasized that the change is intended to streamline decision-making during a critical period. The APPROACH trial is evaluating HLP003, a proprietary novel serotonergic agonist (NSA) in Phase 3 clinical development for the adjunctive treatment of major depressive disorder. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration, underscoring its potential to address a large unmet need.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical stage pharmaceutical company focused on developing synthetic molecules designed to activate serotonin pathways that promote neuroplasticity. In addition to HLP003, the company is developing HLP004, another proprietary NSA in Phase 2 for generalized anxiety disorder. The company also has an extensive research portfolio of investigational NSAs. Helus Pharma operates in Canada, the United States, the United Kingdom, and Ireland.
The announcement comes as Helus Pharma prepares for a pivotal data readout later this year. The company's leadership transition is expected to provide stability and focus as it seeks to bring novel treatments to market for depression, anxiety, and other mental health conditions. Investors and stakeholders will be watching closely for updates on the APPROACH trial and the search for a permanent CEO.
For more information, visit the company's newsroom at https://ibn.fm/HELP and the full press release at https://ibn.fm/3Gp8X.
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