Helus Pharma Prices $50 Million Public Offering to Advance Mental Health Drug Programs

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 offering, managed by Cantor and Barclays as joint bookrunners, is slated to close on June 25, 2026, subject to customary conditions and regulatory approvals.

The company intends to use the net proceeds primarily to advance its HLP003 program for major depressive disorder, which has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Phase 3 APPROACH topline data are expected in the fourth quarter of 2026. Funds will also support the development of HLP004 for generalized anxiety disorder, currently in Phase 2, and the HLP005 program. Remaining proceeds will be allocated to working capital and general corporate purposes.

According to the company, HLP003 is a proprietary novel serotonergic agonist (NSA) designed to activate serotonin pathways believed to promote neuroplasticity, offering a potential new treatment for the large unmet need in mental health. The announcement underscores Helus Pharma's commitment to addressing depression, anxiety, and other conditions through its pipeline of synthetic molecules.

Helus Pharma, the commercial operating name of Cybin Inc., operates in Canada, the United States, the United Kingdom, and Ireland. The company has an extensive research portfolio of investigational NSAs. For more details on the offering, the full press release is available at https://ibn.fm/yrchX.

This capital raise is a significant step for Helus Pharma as it approaches pivotal data readouts. The successful completion of the offering could provide the financial runway needed to bring HLP003 through regulatory submission and potentially to market, addressing a critical need for new treatments for major depressive disorder.