Helus Pharma(TM) Announces US$50 Million Underwritten Offering

Executive Summary

• Helus Pharma priced an underwritten public offering of 10,309,280 common shares at $4.85 per share, generating $50 million in aggregate gross proceeds.
• Net proceeds will be allocated to advance the company's clinical pipeline, including HLP003 (Phase 3 for major depressive disorder), HLP004 (Phase 2 for generalized anxiety disorder), and HLP005 programs, as well as working capital and general corporate purposes.
• The offering is expected to close on June 25, 2026, subject to customary conditions including regulatory approvals and exchange notifications.

Key Details

• Offering Structure: Underwritten public offering of common shares.
• Shares Issued: 10,309,280 common shares.
• Offering Price: $4.85 per common share.
• Gross Proceeds: $50,000,000 USD.
• Underwriters & Managers: Cantor Fitzgerald & Co. and Barclays Capital Inc. (joint bookrunning managers); Bloom Burton Securities Inc. and Lucid Capital Markets (lead managers).
• Expected Closing Date: June 25, 2026, or such other date as mutually agreed by the company and underwriters.
• Closing Conditions: Subject to customary conditions, including approval from Cboe Canada Inc. and notification to the Nasdaq Global Market.
• Use of Proceeds: Progress HLP003 (Phase 3 major depressive disorder program, with APPROACH data expected Q4 2026), HLP004 (Phase 2 generalized anxiety disorder), HLP005 programs, working capital, and general corporate purposes.
• Regulatory & Filing Details: Offered in the United States and certain jurisdictions outside Canada via a prospectus supplement to the company’s short-form base shelf prospectus (dated September 17, 2025, amended December 19, 2025). The supplement will be filed with the SEC (Form F-10, File No. 333-292294) and all Canadian provincial/territorial securities commissions.