Helix BioPharma Corp., a clinical-stage oncology company focused on developing treatments for hard-to-treat cancers, reported its financial results for the three- and nine-month periods ended April 30, 2026, highlighting a reduced net loss and a strengthened cash position following a recent private placement. The company also confirmed it is making progress toward a potential listing on a U.S. securities exchange to broaden its access to capital.
For the nine months ended April 30, 2026, Helix reported a net loss of $2.37 million, or $0.03 per common share, compared to a net loss of $4.26 million, or $0.08 per common share, for the same period in the prior year. The decrease in net loss was primarily attributed to reduced research and development expenses following the closing of the LDOS006 clinical study, partially offset by higher operating, general, and administrative expenses related to accounting, tax, legal, and consulting fees.
Cash and cash equivalents as of April 30, 2026, stood at $2.84 million, a significant increase from $65,000 as of July 31, 2025. During the quarter, the company received $3.67 million in cash proceeds from a private placement of unsecured convertible debentures. The debentures, which bear interest at 25% per annum and mature 14 months from the closing date of July 27, 2027, are convertible into common shares at $1.42 per share. As of April 30, 2026, the debentures had not yet been issued, and the proceeds were recorded as subscription advances.
Thomas Mehrling, MD, PhD, CEO of Helix BioPharma, said, ‘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. 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 evaluating financing and capital markets alternatives to support ongoing operations and future growth. As part of these efforts, Helix is working with legal advisors on filing a base shelf prospectus and is engaged in discussions with prospective investment banking partners. The company is also assessing opportunities to broaden its investor base and increase access to U.S. capital markets, including a potential future listing on a U.S. securities exchange.
Helix’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 (NSCLC). The company also advances two pre-IND candidates: LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, an oral gemcitabine prodrug for advanced cancers.
For more information, the interim filings are available on the company’s profile at www.sedarplus.ca and on its website at https://www.helixbiopharma.com/filings-and-financials/.
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