Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) has priced an underwritten public offering of 10.3 million common shares at $4.85 per share, expecting to raise gross proceeds of approximately $50 million. The offering, led by joint book-running managers Cantor and Barclays, is anticipated to close on June 25, 2026, subject to customary conditions.
The company intends to allocate the net proceeds primarily toward advancing its HLP003 program for major depressive disorder, with Phase 3 APPROACH topline data expected in the fourth quarter of 2026. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration, underscoring its potential to address a significant unmet need. Additional funds will support the HLP004 program for generalized anxiety disorder, currently in Phase 2, and the HLP005 program, along with working capital and general corporate purposes.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical-stage pharmaceutical company focused on developing proprietary novel serotonergic agonists (NSAs). These synthetic molecules are designed to activate serotonin pathways believed to promote neuroplasticity, offering a new approach to treating depression, anxiety, and other mental health conditions. The company's pipeline includes HLP003 and HLP004, both proprietary NSAs, as well as an extensive research portfolio of investigational candidates.
The timing of this capital raise is critical, as mental health disorders continue to affect millions worldwide. Major depressive disorder alone is a leading cause of disability, and current treatments often provide inadequate relief. Helus Pharma's approach aims to provide durable improvements in mental health, potentially transforming the treatment landscape. For business leaders and investors, this offering signals confidence in the company's clinical data and the commercial viability of its NSA platform.
The success of HLP003 in Phase 3 could position Helus Pharma as a key player in the mental health therapeutics market, which is projected to grow significantly. The company's operations span Canada, the United States, the United Kingdom, and Ireland, and its stock is listed on both NASDAQ and the Cboe Canada exchange. For more details on the offering and company updates, visit the company's newsroom at https://ibn.fm/HELP.
This offering comes at a time when innovation in mental health treatments is urgently needed. Helus Pharma's focus on NSAs could provide new options for patients who do not respond to traditional therapies, potentially reducing the economic burden of mental illness on healthcare systems and employers. The company's ability to secure this funding from reputable underwriters like Cantor and Barclays further validates its scientific approach and clinical progress.
As the company moves toward key data readouts in late 2026, stakeholders will be watching closely. The additional capital ensures Helus Pharma can execute its development plans without near-term funding constraints, a critical factor in the capital-intensive biotech sector. The full press release is available at https://ibn.fm/yrchX.
