Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced the pricing of an underwritten public offering of 10.3 million common shares at $4.85 per share, generating gross proceeds of approximately $50 million. The offering, managed by Cantor and Barclays as joint bookrunning managers, is expected to close on June 25, 2026, subject to customary conditions and regulatory approvals. This capital raise is critical for advancing the company's pipeline of novel serotonergic agonists (NSAs) aimed at treating mental health disorders.
The company intends to use the net proceeds primarily to advance development of its HLP003 program for major depressive disorder (MDD). HLP003, which has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA), is in Phase 3 clinical development, with topline data from the APPROACH trial expected in the fourth quarter of 2026. Additionally, funds will support the HLP004 program for generalized anxiety disorder (currently in Phase 2) and the HLP005 program. Remaining proceeds will be used for working capital and general corporate purposes.
This news matters because it underscores the growing investment in innovative treatments for mental health conditions that affect millions worldwide. Helus Pharma's NSAs are synthetic molecules designed to activate serotonin pathways believed to promote neuroplasticity, offering a potential new approach for patients who do not respond adequately to existing therapies. The FDA's Breakthrough Therapy Designation for HLP003 highlights the unmet need in MDD, where current treatments often fall short. If successful, these programs could significantly improve outcomes for individuals suffering from depression, anxiety, and related disorders.
The offering also reflects investor confidence in the company's strategy and clinical data. With class-leading data, Helus Pharma aims to improve the treatment landscape by providing durable improvements in mental health. The involvement of major underwriters like Cantor and Barclays further validates the company's potential. For the industry, this development signals continued momentum in psychedelic-inspired therapeutics and the broader mental health biotech sector.
Helus Pharma, the commercial operating name of Cybin Inc. (founded in 2019), operates in Canada, the United States, the United Kingdom, and Ireland. The company has an extensive research portfolio of investigational NSAs beyond HLP003 and HLP004. Investors and stakeholders can find the full press release and additional updates on the company's website at www.helus.com or follow the team on social media platforms. For the latest news, visit the company's newsroom at https://ibn.fm/HELP.
The successful pricing and anticipated closing of this offering mark a pivotal step for Helus Pharma as it seeks to bring new treatment options to patients and address the large unmet need in mental health care.
