Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced the closing of its underwritten public offering of 10,309,280 common shares at US$4.85 per share, generating gross proceeds of approximately US$50 million. Cantor and Barclays served as joint bookrunning managers, with Bloom Burton Securities and Lucid Capital Markets acting as lead managers. The company paid underwriters a cash commission of US$3 million in connection with the offering.
The net proceeds are intended to advance Helus Pharma's clinical pipeline, including HLP003 for major depressive disorder, which is in Phase 3 development with APPROACH data expected in the fourth quarter of 2026. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Additionally, funds will support HLP004 for generalized anxiety disorder, currently in Phase 2, and HLP005, as well as working capital and general corporate purposes.
Helus Pharma, the commercial operating name of Cybin Inc., is a clinical stage pharmaceutical company developing proprietary novel serotonergic agonists (NSAs) — synthetic molecules designed to activate serotonin pathways believed to promote neuroplasticity. The company aims to address the large unmet need for people suffering from depression, anxiety, and other mental health conditions. With class-leading data, Helus Pharma seeks to improve the treatment landscape through NSAs that provide durable improvements in mental health.
The company operates in Canada, the United States, the United Kingdom, and Ireland. For more information, visit www.helus.com or follow the team on social media. The full press release is available at https://ibn.fm/bSYLT.
