Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) has announced the pricing of an underwritten public offering of 10.3 million common shares at $4.85 per share, generating gross proceeds of approximately $50 million. The offering is expected to close on June 25, 2026, subject to customary closing conditions and regulatory approvals, with Cantor and Barclays serving as joint bookrunning managers.
The company intends to use the net proceeds to advance development of its HLP003 program for major depressive disorder (MDD), which has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Topline Phase 3 APPROACH data is expected in the fourth quarter of 2026. Additionally, funds will support the HLP004 program for generalized anxiety disorder (currently in Phase 2) and the HLP005 program. Remaining proceeds will be used for working capital and general corporate purposes.
This capital raise is critical for Helus Pharma as it seeks to address the large unmet need in mental health. The company's proprietary novel serotonergic agonists (NSAs) are designed to activate serotonin pathways believed to promote neuroplasticity, aiming to provide durable improvements in conditions like depression and anxiety. The HLP003 program, in particular, represents a potential new treatment option for MDD patients who have not responded adequately to existing therapies.
The offering comes at a time when mental health treatments are increasingly in focus, and Helus Pharma's approach using synthetic molecules to target neuroplasticity could differentiate it from traditional antidepressants. The successful completion of this offering will provide the necessary capital to reach key clinical milestones, including the pivotal Phase 3 data readout for HLP003.
For more details, view the full press release at https://ibn.fm/yrchX. Further information about Helus Pharma is available at www.helus.com.
