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I initiate coverage of Helus Pharma with a speculative Buy, citing an attractive high-risk/high-reward setup ahead of the pivotal Phase 3 APPROACH readout in Q4 2026. HELP's lead asset HLP003, an oral deuterated psilocin analog for adjunctive MDD, shows compelling Phase 2 efficacy, FDA Breakthrough Therapy Designation, and a differentiated clinical profile. Current valuation (~$269M EV, ~$207M pro forma cash)…

- Recently closed $50 million underwritten offering reinforces strong institutional investor conviction and bolsters balance sheet for execution of second Phase 3 HLP003 trial 1 , 2 ,3 , EMBRACE, for potential U.S. FDA New Drug Application in 2028 1,2,3 -

Cybin operates as Helus Pharma, which is a clinical-stage biotech built around deuterated serotonergic therapies for depression and anxiety. I believe their main value driver is HLP003, which will report in Q4 2026 its Phase 3 APPROACH readout. HELP also recently raised funds in June 2026, and they don't have financial debt. So, they should have enough resources to reach this important milestone later this year.

Issued on behalf of Helus Pharma™ Helus Pharma™ (NASDAQ: HELP) (Cboe CA: HELP), the commercial operating name of Cybin Inc., says its APPROACH Phase 3 trial of HLP003 for adjunctive treatment of major depressive disorder has surpassed 86% enrollment, keeping the FDA Breakthrough-designated program on track for a topline data readout in Q4 2026. NEW YORK and TORONTO, June 26, 2026 /PRNewswire/ -- USA News Group News…

NEW YORK and TORONTO, June 25, 2026 (GLOBE NEWSWIRE) -- Helus Pharma (Nasdaq: HELP) (Cboe CA: HELP) (the "Company" or "Helus Pharma"), a clinical stage pharmaceutical company committed to helping minds heal by developing novel serotonergic agonists ("NSAs"), is pleased to announce that it has closed its previously announced underwritten offering of 10,309,280 common shares in the capital of the Company (the "Common…