Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCD, FRANKFURT: HBP0), a clinical-stage oncology company, announced today that its board of directors has granted 1,297,000 incentive stock options to directors, officers, employees, and consultants under the company's equity compensation plan. Each option is exercisable to acquire one common share at $1.63 per share for five years, subject to vesting provisions.
Concurrently, the company cancelled 2,200,000 incentive stock options previously granted on July 19, 2024, to a director. The cancelled options had an exercise price of $1.10 per share and were set to expire on July 19, 2029. The director did not receive any options in the current grant.
Helix BioPharma focuses on developing therapies for hard-to-treat cancers. Its lead candidate, Tumor Defense Breaker L-DOS47, is an antibody-enzyme conjugate targeting CEACAM6-expressing tumors. L-DOS47 has completed Phase Ib studies in non-small cell lung cancer (NSCLC) and underpins the company's next-generation bispecific antibody-drug conjugates in discovery. Additionally, Helix is advancing two pre-IND candidates: LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, an oral gemcitabine prodrug with bioavailability comparable to intravenous administration.
The stock option grant aligns with typical compensation practices for retaining and incentivizing key personnel. The cancellation of a large block of options held by a director may reflect adjustments to the company's compensation strategy or governance practices. For investors, the exercise price of $1.63 per share on the new options is above the cancelled options' $1.10 strike price, potentially signaling management's confidence in the company's future valuation.
Helix is listed on the TSX, OTC PINK, and Frankfurt Stock Exchange. More information is available at https://www.helixbiopharma.com/.
Forward-looking statements in the release are based on assumptions that may not materialize, and actual results could differ materially due to risks detailed in the company's filings on SEDAR+ at www.sedarplus.ca.
