Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCD, FRANKFURT: HBP0), a clinical-stage oncology company, today reported its financial results for the three- and nine-month periods ended April 30, 2026. The company highlighted a significant reduction in net loss and a strengthened cash position, largely due to a successful private placement of convertible debentures.
For the three months ended April 30, 2026, Helix incurred a net loss of $671,000, compared to a net loss of $1,544,000 in the same period last year. For the nine-month period, the net loss was $2,374,000, down from $4,255,000 in the prior year. The decrease in net loss is primarily attributed to reduced research and development expenses following the closing of the LDOS006 clinical study, partially offset by increases in operating, general, and administrative expenses related to accounting, tax, legal, and consulting fees.
The company’s cash position improved dramatically, reaching $2,842,000 as of April 30, 2026, compared to just $65,000 as of July 31, 2025. This increase was driven by $3,673,000 in cash proceeds from a private placement of unsecured convertible debentures. The debentures, issued subsequent to quarter-end, bear interest at 25% per annum and mature on July 27, 2027. The principal is convertible at $1.42 per common share, with accrued interest convertible at the greater of $1.42 or the 5-day VWAP less the TSX-permitted discount. As of April 30, 2026, the proceeds were recorded as subscription advances and presented as a current liability.
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.” He added that the financing strengthens the company’s ability to execute strategic priorities, including preparations for a U.S. exchange listing, advancing L-DOS47 toward the clinic, and creating long-term shareholder value.
The company continues to evaluate financing and capital markets alternatives to support ongoing operations and future growth initiatives. Helix is working with legal advisors on filing a base shelf prospectus and is engaged in discussions with prospective investment banking partners. Additionally, the company is assessing opportunities to broaden its investor base and increase access to U.S. capital markets, including a potential future listing on a U.S. securities exchange.
Helix BioPharma is an oncology company focused on hard-to-treat cancers. Its pipeline includes L-DOS47, a clinical-stage antibody-enzyme conjugate targeting CEACAM6-expressing tumors; LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse; and GEMCEDA, an oral gemcitabine prodrug. The company’s interim filings are available on SEDAR+ and its website at Helix Filings and Financials.
