Helix BioPharma Reports Reduced Net Loss and Improved Cash Position, Advances Toward U.S. Exchange Listing

Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCD, FRANKFURT: HBP0) announced its financial results for the three- and nine-month periods ended April 30, 2026, highlighting a reduced net loss and a significantly improved cash position. The company reported a net loss of $671,000 for the three months ended April 30, 2026, compared to a net loss of $1,544,000 for the same period in 2025. For the nine-month period, the net loss was $2,374,000, down from $4,255,000 in the prior year. The reduction in losses was primarily attributed to lower research and development expenses following the closure of the LDOS006 clinical study, partially offset by increased operating, general, and administrative costs related to accounting, tax, legal, and consulting fees.

As of April 30, 2026, the company held cash of $2,842,000, a substantial increase from $65,000 as of July 31, 2025. This improvement was driven by a private placement of unsecured convertible debentures, which generated $3,673,000 in cash proceeds. The debentures, issued subsequent to quarter-end, bear interest at 25% per annum and mature on July 27, 2027. The principal is convertible at $1.42 per common share, with accrued interest convertible at the greater of $1.42 or the five-day volume-weighted average price less the TSX-permitted discount. The proceeds were recorded as subscription advances as of April 30, 2026, since the debentures had not yet been issued.

CEO Thomas Mehrling, MD, PhD, noted that the company's focus has been on securing capital to support near-term 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 said. "This financing strengthens our ability to execute against our strategic priorities, including ongoing preparations for a U.S. exchange listing as we work to expand access to capital, advance L-DOS47 toward the clinic, and create long-term shareholder value."

The company is evaluating financing and capital markets alternatives, including the filing of a base shelf prospectus and discussions with investment banking partners. Helix is also assessing opportunities to broaden its investor base through a potential listing on a U.S. securities exchange. The company'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. Additionally, Helix is advancing pre-IND candidates LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, an oral gemcitabine prodrug.

The interim financial statements, management's discussion and analysis, and CEO and CFO certifications are available on the company's profile at www.sedarplus.ca and on Helix's website at https://www.helixbiopharma.com/filings-and-financials/.