Helix BioPharma Reports Reduced Net Loss and Strengthened Cash Position Amid Strategic Preparations

Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCD, FRANKFURT: HBP0) reported its financial results for the three- and nine-month periods ended April 30, 2026, showing a reduced net loss and a strengthened cash position as the clinical-stage oncology company focuses on securing capital and advancing its pipeline toward clinical trials.

The company incurred a net loss of $671,000 for the three months ended April 30, 2026, compared to $1.544 million in the same period last year, and a net loss of $2.374 million for the nine-month period, down from $4.255 million. The reduction was primarily due to decreased research and development expenses following the close of its LDOS006 clinical study, partially offset by higher operating, general and administrative costs related to accounting, legal, and consulting fees.

Cash and cash equivalents rose to $2.842 million as of April 30, 2026, up from $65,000 at July 31, 2025, reflecting $3.673 million in proceeds from a private placement of unsecured convertible debentures. The debentures, bearing 25% annual interest and maturing in July 2027, are convertible at $1.42 per common share. The proceeds were recorded as subscription advances pending issuance after quarter-end.

“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,” said Thomas Mehrling, MD, PhD, Chief Executive Officer. “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.”

The company is actively evaluating financing alternatives, including filing a base shelf prospectus and engaging with investment banking partners for future capital markets opportunities. It is also assessing a potential listing on a U.S. securities exchange to broaden its investor base and access deeper capital markets.

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 LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, an oral gemcitabine prodrug with bioavailability comparable to intravenous administration.

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

Forward-looking statements in the release involve risks and uncertainties, and actual results may differ materially from expectations. The company does not assume any obligation to update these statements except as required by law.

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