Helix BioPharma Corp. (TSX:HBP, OTC PINK:HBPCD, FRANKFURT:HBP0) reported financial results for the three- and nine-month periods ended April 30, 2026, highlighting a strengthened cash position and progress toward strategic goals including a potential U.S. exchange listing. The clinical-stage oncology company, which focuses on difficult-to-treat cancers, filed its unaudited interim financial statements and management's discussion and analysis on June 11, 2026.
The company reported a net loss of $671,000 for the three months ended April 30, 2026, compared to a net loss of $1,544,000 in the same period last year. For the nine-month period, net loss was $2,374,000, down from $4,255,000 in the prior year. The improvement was primarily due to reduced research and development expenses following the closure of the LDOS006 clinical study, partially offset by higher operating, general, and administrative costs associated with accounting, tax, legal, and consulting fees. Loss per share improved to $0.01 for the quarter and $0.03 for the nine months, versus $0.03 and $0.08 in the respective prior-year periods.
Cash and cash equivalents stood at $2,842,000 as of April 30, 2026, a substantial increase from $65,000 at July 31, 2025. The cash boost came largely from a private placement of unsecured convertible debentures that raised $3,673,000 in proceeds. The debentures, issued subsequent to quarter-end, carry a 25% annual interest rate and mature 14 months from the closing date of July 27, 2027. The principal is convertible at $1.42 per common share, with accrued interest convertible at the higher of $1.42 or the 5-day volume-weighted average price less the TSX-permitted discount.
CEO Thomas Mehrling, MD, PhD, stated that the company's focus has been on securing near-term capital. With the private placement, Helix has made substantial progress toward establishing approximately twelve months of operating runway. The financing strengthens the ability to execute strategic priorities, including preparations for a U.S. exchange listing, advancing L-DOS47 toward the clinic, and creating long-term shareholder value.
The company continues to evaluate financing and capital market alternatives, working with legal advisors on a base shelf prospectus filing and engaging in discussions with prospective investment banking partners. It 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, a clinical-stage antibody-enzyme conjugate designed to prime CEACAM6-expressing tumors for increased sensitivity to therapy. L-DOS47 has completed Phase Ib studies in non-small cell lung cancer. The company also advances two pre-IND candidates: LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, a first-in-class oral gemcitabine prodrug with bioavailability comparable to intravenous administration.
The interim filings are available on the company's profile at SEDAR+ and on its website at Helix BioPharma Filings and Financials.
