Helix BioPharma Reports Reduced Loss, Builds Cash for U.S. Listing

Helix BioPharma Corp., a clinical-stage oncology company listed on TSX under “HBP,” OTC PINK as “HBPCD,” and FRANKFURT as “HBP0,” has announced its financial results and filed its unaudited interim financial statements for the three- and nine-month periods ended April 30, 2026. The company, led by CEO Thomas Mehrling, MD, PhD, reported a net loss of $671,000 for the quarter (down from $1,544,000 in the prior year) and $2,374,000 for the nine-month period (vs. $4,255,000 previously). The reduced loss was attributed to lower R&D expenses and the closure of the LDOS006 study. Cash reserves rose significantly to $2,842,000 from $65,000 at July 31, 2025, bolstered by $3,673,000 in proceeds from a private placement of unsecured convertible debentures, which carry 25% annual interest and mature in July 2027. The principal is convertible at $1.42 per share, and accrued interest is convertible at the greater of $1.42 or the 5-day VWAP less the TSX-permitted discount. The company is also exploring a U.S. exchange listing to broaden its investor base and access to capital.

Helix’s pipeline focuses on hard-to-treat cancers, with lead candidate L-DOS47, a Tumor Defense Breaker antibody-enzyme conjugate targeting CEACAM6-expressing tumors. L-DOS47 has completed Phase Ib studies in non-small cell lung cancer (NSCLC) and underpins next-generation bispecific antibody-drug conjugates (ADCs). The company also advances 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. These innovations aim to expand treatment options for advanced cancers. The Interim Filings are available on SEDAR+ and the company’s website, as noted in the original release. Helix is working with legal advisors on a base shelf prospectus and engaging investment banking partners for future financing, while assessing opportunities to increase access to U.S. capital markets, including a potential listing on a U.S. securities exchange.

The company’s strategic priorities include advancing L-DOS47 toward the clinic and creating long-term shareholder value. The financial results demonstrate improved cash position and reduced losses, signaling progress toward operational stability. With the successful private placement, Helix aims to secure approximately twelve months of operating runway. The company’s focus on securing capital and expanding its investor base underscores its commitment to developing novel cancer therapies. For more details, the original release can be viewed on the NEWMEDIAWIRE.