Helix BioPharma Corp. (TSX:HBP, OTC PINK:HBPCD, FRANKFURT:HBP0), a clinical-stage oncology company focused on developing treatments for hard-to-treat cancers, announced today that its board of directors has granted 1,297,000 incentive stock options to directors, officers, employees and consultants under the Company's equity compensation plan. Each option is exercisable to acquire one common share at an exercise price of $1.63 per share for a period of five years from the date of grant, subject to vesting provisions as per the plan and option agreements.
Additionally, the Company canceled an aggregate of 2,200,000 incentive stock options previously granted on July 19, 2024, to a director. These canceled options had an exercise price of $1.10 per common share and were originally set to expire on July 19, 2029. The director did not receive any stock options in the current grant. This move aligns with typical corporate governance practices to manage equity incentives and align interests with long-term performance.
Helix BioPharma's pipeline is led by Tumor Defense Breaker L-DOS47, a clinical-stage antibody-enzyme conjugate designed to prime CEACAM6-expressing tumors for increased sensitivity to therapy. L-DOS47 has completed Phase Ib studies in non-small cell lung cancer (NSCLC) and serves as the foundation for next-generation bi-specific antibody-drug conjugates (ADCs) currently in discovery. The Company also advances two pre-IND candidates: LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, a first-in-class oral gemcitabine prodrug with bioavailability comparable to IV administration, aimed at expanding treatment options for advanced cancers.
The stock option grant and cancellation are routine corporate actions but signal ongoing efforts to retain talent and manage dilution. For investors, the exercise price of $1.63 per share, set above the cancelled options' $1.10 price, reflects current market conditions and the board's assessment of fair value. The cancellation of a large block of options held by a director may also indicate a strategic realignment of incentives.
Forward-looking statements in the release involve risks and uncertainties, including the Company's ability to capitalize on the potential benefits of its pipeline and transactions. No assurance can be given that anticipated events will occur, as detailed in the Company's filings on SEDAR+ at www.sedarplus.ca. Helix is listed on the TSX (HBP), OTC PINK (HBPCD), and Frankfurt (HBP0). More information is available at https://www.helixbiopharma.com/.
