Helix BioPharma Corp. Announces Fiscal 2025 Year-End Results

Executive Summary

• Helix BioPharma reported FY 2025 net loss of $5.205 M (loss per share $0.09), an improvement from the prior year’s $9.264 M loss.
• The company refocused its pipeline on L‑DOS47 combined with pembrolizumab for first‑line NSCLC and terminated collaborations outside this scope.
• Completed a non‑brokered private placement of 2,222,333 shares at $0.75 (gross proceeds $1.667 M) and closed a $3.0 M private placement earlier in the year; also issued 125,000 shares for option exercises ($113 k).

Key Details

• Financial Results FY 2025 (ended July 31, 2025)
• Net loss: $5,205,000 (vs. $9,264,000 in FY 2024)
• Loss per common share: $0.09 (vs. $0.21 loss/share FY 2024)
• Working‑capital deficiency: $2,807,000
• Shareholders’ deficiency: $15,586,000

• Accumulated deficit: $215,876,000

• Research & Development

• R&D expense FY 2025: $3.558 M (down 40% YoY) – reflects completion of Phase Ib/II pancreatic study and reduced third‑party collaborations.

• Ongoing clinical programs:

  • LDOS006 (Phase Ib/II in metastatic pancreatic adenocarcinoma) completed Oct 2024; CSR expected Fall 2025.
  • LDOS007 – new Phase Ib/IIa NSCLC study planned; FDA written feedback received Aug 8 2025, allowing the company to skip the scheduled videoconference and proceed with CTA preparation.

• Strategic Refocus

• Decision to concentrate on L‑DOS47 + pembrolizumab for first‑line NSCLC, based on unmet need and shortest path to FDA approval.
• Terminated research collaborations with University of Tübingen (Aug 9 2024) and Peter Mac (Aug 13 2024).

• Closed Edmonton laboratory (Oct 31 2024) and liquidated equipment; retained samples/documents with third‑party storage.

• Corporate Development & Financing

• Equity Draw‑down Facility: Announced on Sep 5 2025 that the previously announced GEM facility will not be pursued.
• Private Placement (Aug 22 2025): 2,222,333 common shares @ $0.75 → $1.667 M gross proceeds.
• Earlier Private Placement (Jan 8 2025): 4,000,000 common shares @ $0.75 → $3.0 M gross proceeds, with a 10% finder’s fee paid.

• Option Exercise (Apr 21 2025): Issued 125,000 common shares for cash $113,000.

• Acquisitions

• Laevoroc Asset Acquisition (May 20 2025): Acquired assets & certain liabilities of Laevoroc Immunology AG and Laevoroc Chemotherapy AG in exchange for:

  • 11,555,076 common shares (fair value $9.88 M)
  • 9,454,153 common shares (fair value $8.083 M)

• Leadership Changes

• CEO appointment: Thomas Mehrling, MD, PhD (effective Apr 10 2025).
• COO appointment: Veronika Kandziora (Apr 24 2025).

• CFO appointment: Rohit Babbar (Jun 2 2025), replacing James B. Murphy.

• Liquidity Outlook

• Cash on hand as of July 31 2025: $65,000, insufficient to fund working capital and R&D for the next twelve months; management prioritizing additional equity financing.

Notable Quotes

“Our strategic refocus on L‑DOS47 combined with pembrolizumab positions us to address a critical unmet need in NSCLC while accelerating our path toward FDA approval,” – Thomas Mehrling, CEO.