Helus Pharma Closes $50 Million Public Offering to Advance Mental Health Pipeline

Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) has closed its previously announced underwritten public offering of 10,309,280 common shares at a price of US$4.85 per share, generating gross proceeds of approximately US$50 million. The offering, which closed on [date not provided], was managed by joint bookrunning managers Cantor and Barclays, with Bloom Burton Securities and Lucid Capital Markets acting as lead managers.

The company plans to use the net proceeds to advance its clinical pipeline, including HLP003 for major depressive disorder, with Phase 3 APPROACH data expected in the fourth quarter of 2026, as well as HLP004 for generalized anxiety disorder and HLP005, while also supporting working capital and general corporate purposes. Helus Pharma paid the underwriters a cash commission of US$3 million in connection with the offering.

Helus Pharma, the commercial operating name of Cybin Inc., is a clinical stage pharmaceutical company developing proprietary novel serotonergic agonists (NSAs) designed to activate serotonin pathways believed to promote neuroplasticity. The company's lead candidate, HLP003, has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration and is currently in Phase 3 development for the adjunctive treatment of major depressive disorder. Additionally, HLP004 is in Phase 2 for generalized anxiety disorder, and the company has an extensive research portfolio of investigational NSAs.

The successful closing of this $50 million public offering provides Helus Pharma with the financial runway to advance its pipeline through key clinical milestones. The upcoming Phase 3 data for HLP003 in the fourth quarter of 2026 will be a critical catalyst for the company, as positive results could position it to address the large unmet need for patients suffering from depression who do not respond adequately to existing treatments. The company's approach, focusing on synthetic molecules that activate serotonin pathways, aims to provide durable improvements in mental health.

For more information about Helus Pharma and its pipeline, visit www.helus.com or follow the team on X, LinkedIn, YouTube and Instagram. The full press release regarding the offering is available at https://ibn.fm/bSYLT.