Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced the closing of its previously disclosed underwritten public offering of 10,309,280 common shares at a price of 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 acting as lead managers.
The company said it 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, as well as HLP004 for generalized anxiety disorder and HLP005, while also supporting working capital and general corporate purposes. Helus Pharma paid the underwriters a cash commission of US$3 million in connection with the offering.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical stage pharmaceutical company focused on developing proprietary novel serotonergic agonists (NSAs) — synthetic molecules designed to activate serotonin pathways believed to promote neuroplasticity. The company’s NSAs aim to address the large unmet need for people suffering from depression, anxiety, and other mental health conditions.
HLP003, a proprietary NSA, 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. HLP004 is in Phase 2 for generalized anxiety disorder. The company also has an extensive research portfolio of investigational NSAs.
The capital raise comes at a critical time when mental health treatments are in high demand. With the global burden of depression and anxiety disorders rising, Helus Pharma’s approach could offer new options for patients who do not respond adequately to existing therapies. The company operates in Canada, the United States, the United Kingdom and Ireland. For more information, visit the company’s website at www.helus.com.
The full press release is available at https://ibn.fm/bSYLT.
