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 gross proceeds of approximately $50 million, the company announced. Cantor and Barclays are acting as joint bookrunning managers for the offering, which is anticipated to close on June 25, 2026, subject to customary conditions and regulatory approvals.
The company stated it intends to use the net proceeds primarily to advance development of its HLP003 program for major depressive disorder, with Phase 3 APPROACH topline data expected in the fourth quarter of 2026. Additionally, funds will support the HLP004 program for generalized anxiety disorder and the HLP005 program. Remaining proceeds will be allocated to working capital and general corporate purposes.
This capital raise comes as Helus Pharma progresses its pipeline of novel serotonergic agonists (NSAs), synthetic molecules designed to activate serotonin pathways believed to promote neuroplasticity. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for the adjunctive treatment of major depressive disorder, underscoring its potential to address unmet needs in mental health. HLP004 is currently in Phase 2 development for generalized anxiety disorder.
The offering represents a significant milestone for the company, providing financial runway to generate key clinical data. The successful close will enable Helus Pharma to continue its mission of developing treatments that aim to provide durable improvements in mental health. For more details on the offering, the full press release is available at https://ibn.fm/yrchX.
Helus Pharma, the commercial operating name of Cybin Inc., founded in 2019, is a clinical-stage pharmaceutical company focused on developing proprietary NSAs. The company operates in Canada, the United States, the United Kingdom, and Ireland. For updates and more information, visit www.helus.com or follow the team on X, LinkedIn, YouTube, and Instagram.
