Helix BioPharma Corp. (TSX:HBP, OTC PINK:HBPCD, FRANKFURT:HBP0), a clinical-stage oncology company, has released its unaudited interim financial statements for the three- and nine-month periods ended April 30, 2026. The company reported a net loss of $671,000 for the three months ended April 30, 2026, a significant improvement from the $1.544 million loss in the same period last year. For the nine-month period, the net loss was $2.374 million, compared to $4.255 million in the prior year.
The reduction in net loss was primarily attributed to decreased research and development expenses following the closing of the LDOS006 clinical study, partially offset by higher operating, general, and administrative costs related to accounting, tax, legal, and consulting fees. The loss per common share was $0.01 for the quarter and $0.03 for the nine-month period, compared to $0.03 and $0.08 in the respective prior-year periods.
Helix's cash position strengthened considerably, with cash totaling $2.842 million as of April 30, 2026, up from just $65,000 on July 31, 2025. This increase was largely due to $3.673 million in cash proceeds from a private placement of unsecured convertible debentures. The debentures, issued subsequent to quarter-end, carry a 25% annual interest rate, mature on July 27, 2027, and are convertible into common shares at $1.42 per share. As of the balance sheet date, the proceeds were recorded as subscription advances, a current liability, as the debentures had not yet been issued.
Thomas Mehrling, MD, PhD, CEO of Helix, stated: "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. 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. This financing strengthens our ability to execute against our strategic priorities, including ongoing preparations for a U.S. exchange listing as we work to expand access to capital, advance L-DOS47 toward the clinic, and create long-term shareholder value."
The company continues to evaluate financing and capital markets alternatives, including working with legal advisors on a base shelf prospectus and discussions with investment banking partners. Helix is also assessing opportunities to broaden its investor base and increase access to U.S. capital markets, potentially through a future listing on a U.S. securities exchange.
Helix's pipeline is led by Tumor Defense Breaker L-DOS47, a clinical-stage antibody-enzyme conjugate designed to target CEACAM6-expressing tumors. The company also advances pre-IND candidates LEUMUNA and GEMCEDA. The interim filings are available on SEDAR+ at www.sedarplus.ca and on the company's website at https://www.helixbiopharma.com/filings-and-financials/.
The improved financial results and cash position provide Helix with a stronger foundation to advance its clinical programs and strategic initiatives, potentially benefiting patients with hard-to-treat cancers and creating value for shareholders.
