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Helix Biopharma Corp. Announces Financial Results and Filing of Interim Financial Statements as of and for the Three- and Nine-Month Periods Ended April 30, 2026

Helix Biopharma Secures $3.67M Lifeline via Convertible Debentures, Cuts Losses as It Winds Down Pancreatic Trial

By The Northwire Desk — AI Analysis Jun 12, 2026 · 18:15 HBP · 1.58 HELIX BIOPHARMA CORP.

Executive Summary

Helix Biopharma reported unaudited interim financial results for the three and nine months ended April 30, 2026.
Net loss decreased to $671,000 for Q3 and $2,374,000 for the nine-month period, compared to $1,544,000 and $4,255,000 in the respective prior year periods.
Loss per common share was $0.01 for Q3 and $0.03 for the nine-month period.
Cash and cash equivalents increased to $2,842,000 as of April 30, 2026, up from $65,000 as of July 31, 2025.
The company secured $3,673,000 in cash proceeds from a private placement of unsecured convertible debentures.
Debenture terms include a 25% annual interest rate, maturity on July 27, 2027, and principal conversion at $1.42 per common share.
The reduction in net loss was primarily driven by decreased R&D expenses following the closure of the LDOS006 clinical study, partially offset by higher operating, general, and administrative expenses related to accounting, tax, legal, and consulting fees.
Management confirmed progress toward a 12-month operating runway and outlined active efforts to file a base shelf prospectus, engage investment banking partners, and pursue a U.S. exchange listing.

Material Impact

Liquidity Crisis Averted: The $3.67M financing directly addresses the severe cash crunch reported in March 2026 (when cash was $31k), providing a critical 12-month runway.
Margin Improvement: The year-over-year loss reduction is substantial, driven by strategic pipeline consolidation and the completion of the pancreatic adenocarcinoma study.
Cost of Capital: The financing carries a 25% annual interest rate and a conversion price of $1.42, which is below the current trading price of $1.58. This creates near-term dilution risk if the stock remains above $1.42, but also provides an incentive for management to drive the share price higher to avoid conversion.
Strategic Positioning: The capital raise supports the refocus on L-DOS47 combined with pembrolizumab for NSCLC and funds the administrative costs associated with a potential U.S. listing.
Market Expectation: Given the prior announcement of the collapsed Quantum Global Ventures deal and the subsequent term sheet negotiations in March, this financing was anticipated. The market likely priced in the need for capital, making the execution a routine positive rather than a surprise.

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Company Overview

Helix Biopharma Corp. is a clinical-stage biotechnology company focused on developing targeted therapies for cancer and metabolic diseases.
Core Pipeline: L-DOS47, a CEACAM6-directed antibody-drug conjugate (ADC) currently in Phase Ib/II for non-small cell lung cancer (NSCLC). The company has refocused its strategy on L-DOS47 combined with pembrolizumab.
Other Assets: LEUMUNA (oral immune checkpoint modulator for post-transplant leukemia and metabolic diseases) and GEMCEDA (oral gemcitabine prodrug).
Strategic Moves: Acquired Laevoroc Immunology AG assets in May 2025, closed the Edmonton laboratory, and terminated external research collaborations to concentrate resources on the NSCLC program.
Market Position: Small-cap biotech operating in a highly competitive ADC space, relying on proprietary VHH nanobody platform for tumor targeting.

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