Helus Pharma Closes $50 Million Public Offering to Advance Psychedelic-Derived Treatments for Mental Health

Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced Tuesday the closing of its previously announced underwritten public offering, generating gross proceeds of approximately $50 million. The company sold 10,309,280 common shares at a price of $4.85 per share, with Cantor and Barclays serving as joint bookrunning managers. Bloom Burton Securities and Lucid Capital Markets acted as lead managers.

The company said it 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. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Funds will also support HLP004 for generalized anxiety disorder, currently in Phase 2, and HLP005, as well as working capital and general corporate purposes. Helus Pharma paid the underwriters a cash commission of $3 million in connection with the offering.

Helus Pharma, the commercial operating name of Cybin Inc., is a clinical-stage pharmaceutical company focused on developing novel serotonergic agonists (NSAs) – synthetic molecules designed to activate serotonin pathways believed to promote neuroplasticity. The company aims to address the large unmet need for people suffering from depression, anxiety, and other mental health conditions. With class-leading data, Helus Pharma seeks to improve the treatment landscape through NSAs that provide durable improvements in mental health.

The offering underscores continued investor appetite for psychedelic-derived therapies, a sector that has seen increased interest as traditional treatments for mental health disorders often fall short. Major depressive disorder affects millions worldwide, and generalized anxiety disorder is one of the most common mental health conditions. Helus Pharma’s pipeline, including HLP003 and HLP004, represents a new wave of treatments that could offer faster and longer-lasting relief compared to conventional antidepressants and anxiolytics.

The company operates in Canada, the United States, the United Kingdom, and Ireland. For more information, visit www.helus.com. The full press release is available at https://ibn.fm/bSYLT.

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