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 a significantly strengthened cash position following a private placement. The company, which focuses on developing therapies for hard-to-treat cancers, is now working toward a U.S. exchange listing and advancing its lead candidate, L-DOS47, toward clinical trials.
For the nine months ended April 30, 2026, Helix reported a net loss of $2.374 million, compared to a net loss of $4.255 million in the same period a year earlier. The reduction in loss was primarily due to decreased research and development expenses as the company closed out its LDOS006 clinical study, partially offset by higher general and administrative costs related to accounting, tax, legal, and consulting fees. Loss per share narrowed to $0.03 from $0.08 in the prior-year period.
The company's cash position improved dramatically, rising to $2.842 million as of April 30, 2026, from just $65,000 at July 31, 2025. This increase was driven by $3.673 million in cash proceeds received during the quarter from a private placement of unsecured convertible debentures. Although the debentures were not yet issued as of April 30, the proceeds were recorded as subscription advances. The debentures, totaling $3.673 million, bear interest at 25% per annum 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 a price based on the greater of $1.42 and the 5-day volume-weighted average price less the TSX-permitted discount.
“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.”
Helix is evaluating additional financing and capital markets alternatives to support ongoing operations and future growth. The company is working with legal advisors to file a base shelf prospectus and is in discussions with prospective investment banking partners. It is also exploring 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.
For investors, the improved cash position and reduced burn rate signal a more stable financial footing, reducing near-term dilution risk. The company's focus on advancing L-DOS47, an antibody-enzyme conjugate designed to prime CEACAM6-expressing tumors for increased sensitivity to therapy, could address significant unmet needs in non-small cell lung cancer and other solid tumors. A successful U.S. listing would open access to a deeper pool of capital, potentially accelerating development timelines.
Helix's pipeline also includes LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, a first-in-class oral gemcitabine prodrug. Both are pre-IND candidates, with L-DOS47 being the most advanced, having completed Phase Ib studies in NSCLC.
The interim financial statements and management's discussion and analysis are available on the company's profile at SEDAR+ and on its website at Helix BioPharma Filings and Financials.
