Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCD, FRANKFURT: HBP0), a clinical-stage oncology company, today announced its financial results for the three- and nine-month periods ended April 30, 2026, highlighting a reduced net loss and a significantly strengthened cash position. The company reported a net loss of $671,000 for the third quarter and $2,374,000 for the nine-month period, compared to losses of $1,544,000 and $4,255,000 in the same periods last year, respectively. The decrease in net loss was primarily due to reduced research and development expenses and the closing of its LDOS006 clinical study, partially offset by higher operating, general, and administrative costs related to accounting, tax, legal, and consulting fees.
As of April 30, 2026, the company had cash of $2,842,000, a substantial increase from $65,000 at July 31, 2025. This improvement was largely driven by $3,673,000 in cash proceeds from a private placement of unsecured convertible debentures, which closed after quarter-end. The debentures bear interest at 25% per annum, mature on July 27, 2027, and are convertible at $1.42 per common share. The financing is part of the company's strategy to secure approximately twelve months of operating runway, as stated by CEO Thomas Mehrling, MD, PhD.
The company continues to evaluate financing and capital markets alternatives to support ongoing operations and growth initiatives. It is working with legal advisors on filing a base shelf prospectus and engaging with prospective investment banking partners for future financing opportunities. Helix is also assessing a potential listing on a U.S. securities exchange to broaden its investor base and increase access to U.S. capital markets.
Helix's pipeline is led by L-DOS47, a clinical-stage antibody-enzyme conjugate designed to target CEACAM6-expressing tumors. The company also advances pre-IND candidates LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, a first-in-class oral gemcitabine prodrug. The company's financial statements and MD&A are available on SEDAR+ at www.sedarplus.ca and on its website at https://www.helixbiopharma.com/filings-and-financials/.
This financial update is important for investors as it indicates the company's progress in reducing operational losses and securing funding to advance its oncology pipeline toward clinical milestones and a potential U.S. listing, which could provide greater access to capital markets.
