Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced the closing of its underwritten public offering, generating gross proceeds of approximately US$50 million. The offering consisted of 10,309,280 common shares priced at US$4.85 per share. Cantor and Barclays served as joint bookrunning managers, while Bloom Burton Securities and Lucid Capital Markets acted as lead managers. Helus Pharma paid a cash commission of US$3 million to the underwriters in connection with the offering.
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. HLP004 for generalized anxiety disorder and HLP005 are also prioritized, alongside working capital and general corporate purposes. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration, underscoring its potential to address unmet needs in mental health.
Helus Pharma, the commercial operating name of Cybin Inc., focuses on developing proprietary novel serotonergic agonists (NSAs) designed to activate serotonin pathways and promote neuroplasticity. The company aims to provide durable improvements for individuals suffering from depression, anxiety, and other mental health conditions. With class-leading data, Helus Pharma is positioned to transform the treatment landscape.
The successful capital raise reflects strong investor support for the company’s clinical programs and its mission to help minds heal. For further details, the full press release is available at https://ibn.fm/bSYLT. Updates on Helus Pharma can be found at www.helus.com or via its newsroom at https://ibn.fm/HELP.
The closing of this offering provides Helus Pharma with the financial runway to reach key milestones, including the Phase 3 readout for HLP003, which could significantly impact the treatment of major depressive disorder if positive. The company’s pipeline also includes HLP004, currently in Phase 2 for generalized anxiety disorder, and HLP005, an investigational NSA. As Helus Pharma advances its clinical trials, the mental health community and investors alike will be watching closely for data that could validate the potential of its proprietary NSAs.
