Helus Pharma (HELP) Q1 2027 earnings summary

Executive summary

• Appointed Michael Halstead as CEO to lead late-stage development and commercialization.

• Completed enrollment in Phase 3 APPROACH study for HLP003 in MDD; topline data expected Q4 2026.

• Advanced HLP004 for generalized anxiety disorder, with strong Phase 2 results and next study design due by end of Q3 2026.

• Strengthened balance sheet with $50 million underwritten offering in June 2026.

Financial highlights

• Cash totaled $166.4 million as of June 30, 2026.

• Net loss was $47.8 million for Q1 2027, compared to $24.6 million in the same period last year.

• Cash-based operating expenses were $37.5 million, up from $23.9 million year-over-year.

• Cash flows used in operating activities were $37.1 million, compared to $29.5 million last year.

• Increased expenses driven by advancement of HLP003 Phase 3 trials.

Outlook and guidance

• Topline data for HLP003 Phase 3 APPROACH study expected in Q4 2026.

• HLP004 next study design to be completed by end of Q3 2026.

• HLP005 development candidate selection anticipated in second half of 2027.