Helix BioPharma Reports Reduced Losses, Secures $3.67M Financing to Extend Runway

Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCD, FRANKFURT: HBP0) reported financial results for the three- and nine-month periods ended April 30, 2026, highlighting a significant reduction in net losses and a strengthened cash position following a private placement of convertible debentures. The clinical-stage oncology company, which focuses on developing treatments for hard-to-treat cancers, posted a net loss of $671,000 for the three months ended April 30, 2026, compared to $1.54 million in the same period last year. For the nine months, the net loss was $2.37 million, down from $4.26 million in the prior year.

The improvement was driven by reduced research and development expenses, largely due to the completion of the LDOS006 clinical study, partially offset by higher operating, general, and administrative costs associated with accounting, tax, legal, and consulting fees. The company reported cash of $2.84 million as of April 30, 2026, a significant increase from $65,000 at the end of the fiscal year on July 31, 2025.

During the quarter, Helix received $3.67 million in cash proceeds related to a private placement of unsecured convertible debentures. The debentures, bearing interest at 25% per annum and maturing on July 27, 2027, are convertible at $1.42 per common share. As of the reporting date, the debentures had not yet been issued, and the proceeds were recorded as subscription advances. The company stated that this financing provides approximately twelve months of operating runway, supporting its strategic priorities.

"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," said Thomas Mehrling, MD, PhD, Chief Executive Officer. "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 is actively evaluating financing and capital markets alternatives, including the filing of a base shelf prospectus and discussions with prospective investment banking partners. Helix is also assessing opportunities to broaden its investor base and access U.S. capital markets, potentially through a future listing on a U.S. securities exchange. The company's pipeline is led by 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. Additionally, Helix is advancing two pre-IND candidates: LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, an oral gemcitabine prodrug with bioavailability comparable to IV administration.

The financial statements and management's discussion and analysis are available on the company's profile at SEDAR+ and on its website at Helix BioPharma Filings and Financials.