Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced the closing of its underwritten public offering of 10,309,280 common shares at US$4.85 per share, generating gross proceeds of approximately US$50 million. The offering was managed by joint bookrunning managers Cantor and Barclays, with Bloom Burton Securities and Lucid Capital Markets serving as lead managers. The company paid a cash commission of US$3 million to the underwriters.
The company plans to use the net proceeds to advance its clinical pipeline, including HLP003 for major depressive disorder, which is in Phase 3 development with Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Phase 3 APPROACH data is expected in the fourth quarter of 2026. Additionally, funds will support HLP004 for generalized anxiety disorder, currently in Phase 2, and HLP005, along with working capital and general corporate purposes.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical stage pharmaceutical company focused on developing proprietary novel serotonergic agonists (NSAs) designed to activate serotonin pathways that promote neuroplasticity. The company aims to address unmet needs in depression, anxiety, and other mental health conditions. With class-leading data, Helus Pharma seeks to provide durable improvements in mental health through its NSA pipeline.
This capital raise is significant as it provides funding for late-stage clinical trials of HLP003, which could become a new treatment option for major depressive disorder if approved. The company's approach using synthetic molecules to target serotonin pathways represents a potential advancement in psychiatric care. Investors should monitor the upcoming APPROACH data readout, which will be a key catalyst for the stock. For more details, view the full press release at https://ibn.fm/bSYLT.
Helus Pharma operates in Canada, the United States, the United Kingdom, and Ireland. More information is available at www.helus.com. For the latest news, visit the company’s newsroom at https://ibn.fm/HELP.
