Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced the closing of its underwritten public offering, generating gross proceeds of approximately $50 million. The offering consisted of 10,309,280 common shares priced at US$4.85 per share. Cantor and Barclays served as joint bookrunning managers, with Bloom Burton Securities and Lucid Capital Markets acting as lead managers. The company paid underwriters a cash commission of $3 million in connection with the offering.
The company plans to use the net proceeds to advance its clinical pipeline, including HLP003 for major depressive disorder (MDD), which is currently in Phase 3 development. Phase 3 APPROACH data is expected in the fourth quarter of 2026. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Funds will also support HLP004 for generalized anxiety disorder (Phase 2) and HLP005, as well as working capital and general corporate purposes.
This capital infusion is critical for Helus Pharma as it progresses its proprietary novel serotonergic agonists (NSAs)—synthetic molecules designed to activate serotonin pathways believed to promote neuroplasticity. The company aims to address the large unmet need for people suffering from depression, anxiety, and other mental health conditions. With class-leading data, Helus Pharma intends to improve the treatment landscape by introducing NSAs that aim to provide durable improvements in mental health.
The successful offering reflects investor confidence in the company's pipeline and the potential of psychedelic-inspired therapeutics. Major depressive disorder affects millions globally, and current treatments often have limited efficacy or significant side effects. HLP003, if approved, could offer a new option for patients who do not respond to existing therapies. Similarly, HLP004 targets generalized anxiety disorder, another area with high unmet need.
Helus Pharma, the commercial operating name of Cybin Inc. founded in 2019, operates in Canada, the United States, the United Kingdom, and Ireland. For more information, visit the full press release and the company's newsroom at https://ibn.fm/HELP.
