Helix BioPharma Reports Reduced Net Loss and Improved Cash Position Amid Strategic Financing Efforts

Helix BioPharma Corp. (TSX:HBP, OTC PINK:HBPCD, FRANKFURT:HBP0), a clinical-stage oncology company, today reported financial results for the three- and nine-month periods ended April 30, 2026, highlighting a reduced net loss and a strengthened cash position following a private placement. The company, which is focused on developing therapies for hard-to-treat cancers, filed its unaudited interim financial statements and management's discussion and analysis (MD&A) on SEDAR+.

For the three months ended April 30, 2026, Helix incurred a net loss of $671,000, down from $1.54 million in the same period last year. For the nine-month period, the net loss was $2.37 million, compared to $4.26 million in the prior year. The improvement was primarily due to reduced research and development expenses following the closure of the LDOS006 clinical study, partially offset by higher operating, general, and administrative costs related to accounting, legal, and consulting fees. Loss per share was $0.01 for the quarter and $0.03 for the nine-month period, versus $0.03 and $0.08, respectively, in the prior year.

The company's cash position surged to $2.84 million as of April 30, 2026, from $65,000 at July 31, 2025. This increase was largely driven by $3.67 million in cash proceeds from a private placement of unsecured convertible debentures, which were issued subsequent to quarter-end. The debentures bear interest at 25% per annum, mature on July 27, 2027, and are convertible at $1.42 per common share. As the debentures had not been issued by April 30, the proceeds were recorded as subscription advances under current liabilities.

Thomas Mehrling, MD, PhD, CEO of Helix, stated, “Since the beginning of the year, our focus has been on securing the capital necessary to support Helix’s near-term operating and development objectives. With the successful completion of our recent private placement, we have made substantial progress toward our objective of establishing approximately twelve months of operating runway.” He added that the financing strengthens the company's ability to execute strategic priorities, including preparations for a U.S. exchange listing, advancing L-DOS47 toward the clinic, and creating long-term shareholder value.

Helix continues to evaluate financing alternatives and is working with legal advisors on a base shelf prospectus filing. The company is also in discussions with investment banking partners for future financing and is assessing opportunities to broaden its investor base, including a potential listing on a U.S. securities exchange.

The interim filings are available on SEDAR+ at www.sedarplus.ca and on the company's website at https://www.helixbiopharma.com/filings-and-financials/.

Helix's pipeline is led by L-DOS47, a clinical-stage antibody-enzyme conjugate targeting CEACAM6-expressing tumors, which has completed Phase Ib studies in non-small cell lung cancer. The company also advances pre-IND candidates LEUMUNA and GEMCEDA, addressing post-transplant leukemia relapse and oral gemcitabine delivery, respectively.