Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCD, FRANKFURT: HBP0), a clinical-stage oncology company, today reported financial results for the three- and nine-month periods ended April 30, 2026, highlighting a reduced net loss and strengthened cash position as the company progresses toward a potential U.S. exchange listing.
The company incurred a net loss of $671,000 for the three months ended April 30, 2026, down from $1,544,000 in the same period last year. For the nine-month period, the net loss was $2,374,000 compared to $4,255,000 in the prior year. The decrease 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 expenses related to accounting, tax, legal, and consulting fees.
Cash and cash equivalents stood at $2,842,000 as of April 30, 2026, a significant increase from $65,000 as of July 31, 2025. This improvement was driven by $3,673,000 in cash proceeds from a private placement of unsecured convertible debentures, which were recorded as subscription advances. The debentures, issued post-quarter-end, bear 25% annual interest and mature on July 27, 2027, with a conversion price of $1.42 per common share.
“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. This financing strengthens our ability to execute against our strategic priorities, including ongoing preparations for a U.S. exchange listing as we work to expand access to capital, advance L-DOS47 toward the clinic, and create long-term shareholder value.”
The company is actively evaluating financing and capital markets alternatives, including working with legal advisors to file a base shelf prospectus and engaging in discussions with prospective investment banking partners. Helix is also assessing opportunities to broaden its investor base and increase access to U.S. capital markets, potentially through a future listing on a U.S. securities exchange.
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™ and GEMCEDA™. The financial results underscore the company’s efforts to extend its operating runway and advance its oncology pipeline amid challenging capital market conditions.
The interim financial statements and related filings are available on SEDAR+ at www.sedarplus.ca and on the company’s website at https://www.helixbiopharma.com/filings-and-financials/.
