Helus Pharma Raises $50M and Exceeds 86% Enrollment in Phase 3 Trial
HELP•Helus Pharma priced a $50 million underwritten offering of 10,309,280 common shares at $4.85 each, managed by Cantor and Barclays, with closing expected June 25 upon Cboe Canada and Nasdaq approvals. Enrollment in the Phase 3 APPROACH trial of HLP003 for adjunctive major depressive disorder has surpassed 86%, with topline data due in Q4 2026.
1. Underwritten Offering Priced at $4.85 per Share
Helus Pharma announced an underwritten offering of 10,309,280 common shares at an offering price of US$4.85 per share, generating gross proceeds of US$50 million. Cantor Fitzgerald and Barclays are joint bookrunning managers, with closing expected on June 25 upon customary Cboe Canada and Nasdaq approvals.
2. APPROACH Phase 3 Enrollment Surpasses 86%
The company reported that enrollment in the APPROACH Phase 3 clinical trial of HLP003 for the adjunctive treatment of major depressive disorder has exceeded 86%. This study forms part of the wider PARADIGM program, which includes EMBRACE and EXTEND, and is on track for topline data in the fourth quarter of 2026.
3. Proceeds to Fund Pipeline Advancement
Net proceeds from the offering will support the Phase 3 development of HLP003, ongoing Phase 2 trials of HLP004 and HLP005 programs, and general corporate purposes. The funding extension aims to sustain clinical operations through the anticipated Q4 2026 data readout and subsequent regulatory activities.
