Helix BioPharma Corp., a clinical-stage oncology company, reported financial results for the three- and nine-month periods ended April 30, 2026, highlighting a reduced net loss and a strengthened cash position following a private placement. The company is focused on securing capital to support near-term objectives, including advancing its lead drug candidate L-DOS47 and pursuing a U.S. exchange listing.
For the nine months ended April 30, 2026, Helix recorded a net loss of $2.37 million, or $0.03 per share, compared to a loss of $4.26 million, or $0.08 per share, in the same period last year. The decrease in net loss was primarily due to reduced research and development expenses and the closing of the LDOS006 clinical study, partially offset by higher operating, general, and administrative costs related to accounting, tax, legal, and consulting fees.
The company’s cash position improved significantly to $2.84 million as of April 30, 2026, up from $65,000 at July 31, 2025. This increase was driven by $3.67 million in proceeds from a private placement of unsecured convertible debentures, which were recorded as subscription advances as of quarter-end. The debentures, issued subsequent to quarter-end, carry a 25% annual interest rate and mature on July 27, 2027. They are convertible into common shares at $1.42 per share, with accrued interest convertible at the greater of $1.42 or a discounted five-day volume-weighted average price.
“Since the beginning of the year, our focus has been on securing the capital necessary to support Helix’s near-term operating and development objectives,” said Thomas Mehrling, MD, PhD, Chief Executive Officer. “With the successful completion of our recent private placement, we have made substantial progress toward our objective of establishing approximately twelve months of operating runway.”
The company continues to evaluate financing and capital markets alternatives, including working with legal advisors on a base shelf prospectus and discussions with prospective investment banking partners. Helix is also assessing opportunities to broaden its investor base and increase access to U.S. capital markets, including a potential future listing on a U.S. securities exchange.
Helix’s pipeline is led by Tumor Defense Breaker L-DOS47, an antibody-enzyme conjugate targeting CEACAM6-expressing tumors. The company also advances two pre-IND candidates: LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, an oral gemcitabine prodrug. The interim financial statements and MD&A are available on SEDAR+ at www.sedarplus.ca and on the company's website at https://www.helixbiopharma.com/filings-and-financials/.
