Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced Tuesday 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 the company conducts a search for a permanent successor. The leadership transition is intended to ensure continuity as Helus Pharma 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.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical-stage pharmaceutical company developing proprietary novel serotonergic agonists (NSAs) designed to activate serotonin pathways believed to promote neuroplasticity. The company's lead candidate, HLP003, is in Phase 3 clinical development for the adjunctive treatment of major depressive disorder and has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Additionally, HLP004 is in Phase 2 for generalized anxiety disorder. The company also has an extensive research portfolio of investigational NSAs.
The leadership change comes at a critical juncture for Helus Pharma. The APPROACH trial of HLP003 is expected to report topline data in the fourth quarter of this year, which could be a significant catalyst for the stock. The company's proprietary NSAs aim to address the large unmet need for people suffering from depression, anxiety, and other mental health conditions. Helus Pharma aims to improve the treatment landscape by introducing NSAs that provide durable improvements in mental health.
Eric So, the newly appointed Interim CEO, has been with the company since its founding in 2019 and has served as Executive Chairman. He is expected to provide stability and strategic direction during the transition period. 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.
The announcement was disseminated by InvestorWire, a specialized communications platform. The full press release is available at https://ibn.fm/3Gp8X. Helus Pharma is a trademark of Cybin Corp.
