Helus Pharma closes $50M share offering at $4.85 per share

Helus Pharma (Nasdaq: HELP) has closed an underwritten public offering of 10,309,280 common shares at $4.85 per share, raising $50 million in gross proceeds, according to a company statement.

Cantor and Barclays served as joint bookrunning managers for the offering. Bloom Burton Securities and Lucid Capital Markets acted as lead managers. The company paid underwriters a cash commission of $3 million.

Helus Pharma said it plans to use the net proceeds to advance three drug programs: HLP003, its candidate for major depressive disorder currently in Phase 3 clinical development, with data from the APPROACH trial expected in the fourth quarter of 2026; HLP004, in Phase 2 for generalized anxiety disorder; and HLP005. The remainder will be directed toward working capital and general corporate purposes.

The shares were offered in the United States and certain jurisdictions outside Canada under a prospectus supplement filed with the U.S. Securities and Exchange Commission and Canadian securities regulators.

Helus Pharma, the commercial operating name of Cybin Inc., is a clinical-stage pharmaceutical company developing synthetic molecules that target serotonin pathways. The company operates in Canada, the United States, the United Kingdom, and Ireland.

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