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 is being managed by Cantor and Barclays as joint bookrunning managers and is slated to close on June 25, 2026, subject to customary conditions. This capital raise underscores the company's commitment to advancing its pipeline of proprietary novel serotonergic agonists (NSAs) for mental health disorders.
The net proceeds are earmarked primarily for the development of HLP003, the company's lead candidate for major depressive disorder (MDD), which is currently in Phase 3 clinical trials. Helus Pharma expects topline data from the APPROACH study in the fourth quarter of 2026. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration, reflecting its potential to address the significant unmet need in MDD treatment. Additionally, funds will support HLP004 for generalized anxiety disorder (currently in Phase 2) and HLP005, an earlier-stage program. Remaining proceeds will be allocated to working capital and general corporate purposes.
This financing event is significant for the mental health treatment landscape. Helus Pharma's NSAs are synthetic molecules designed to activate serotonin pathways believed to promote neuroplasticity, offering a novel approach compared to traditional antidepressants. The company aims to provide durable improvements in mental health, which could transform care for millions suffering from depression and anxiety. The successful pricing of this offering, despite market volatility, indicates strong investor confidence in the company's science and clinical strategy.
The involvement of major investment banks like Cantor and Barclays lends credibility to the offering and suggests institutional interest in the psychedelic-inspired therapeutics sector. Helus Pharma, operating as the commercial name of Cybin Inc., has a broad research portfolio and operates in Canada, the United States, the United Kingdom, and Ireland. For more details on the company and its pipeline, visit www.helus.com. The latest news and updates are available in the company's newsroom at https://ibn.fm/HELP.
