Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced that Michael Cola has stepped down as Chief Executive Officer effective immediately at the request of the Board. Co-founder and Executive Chairman Eric So has been appointed Interim CEO while a search for a permanent successor is underway. The company said the leadership transition is intended to ensure continuity as it advances its clinical pipeline, including the anticipated fourth-quarter topline data readout from the APPROACH trial of HLP003, while maintaining focus on long-term value creation for patients and shareholders.
Eric So, who co-founded the company in 2019, brings deep familiarity with the company's strategy and pipeline. Under his interim leadership, Helus Pharma will continue to develop its proprietary novel serotonergic agonists (NSAs), synthetic molecules designed to activate serotonin pathways believed to promote neuroplasticity. The company's lead candidate, HLP003, is in Phase 3 clinical development for the adjunctive treatment of major depressive disorder and has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Additionally, HLP004, another proprietary NSA, is in Phase 2 for generalized anxiety disorder.
The leadership change comes at a critical juncture as the company prepares for the APPROACH trial readout, which could significantly impact the treatment landscape for depression. Helus Pharma aims to address the large unmet need for people suffering from depression, anxiety, and other mental health conditions through its NSA platform. The company operates in Canada, the United States, the United Kingdom, and Ireland.
For further details on the announcement, refer to the full press release at https://ibn.fm/3Gp8X. More information about Helus Pharma is available at www.helus.com.
