Earnings & Results
Helix BioPharma Narrows FY26 Loss to $3.35 million as Cash Falls to $804K and Financing Sought
By News Desk ·
Key takeaways
- Helix BioPharma's FY26 net loss was $3.35 million, or $0.04 per share, down from $5.21 million in FY25.
- R&D expense fell 54% to $1.62 million and cash stood at $804K at July 31, 2026, with a working capital deficit of $4.18 million.
- The company said its funds are insufficient for 12 months and it is seeking financing, with clinical work deferred pending funds.
Helix BioPharma reported a fiscal 2026 net loss of $3.35 million, or $0.04 per share, down from $5.21 million a year earlier, with research and development spending cut 54% to $1.62 million. TradingView summarized the company's press release, which said cash on hand was insufficient to fund operations for 12 months.
Helix BioPharma's Cash and R&D Cutbacks
Helix BioPharma is a clinical-stage, pre-revenue oncology company developing CEACAM6-targeting bio-conjugate drug candidates, including L-DOS47, LEUMUNA and GEMCEDA, for hard-to-treat solid tumors and post-transplant leukemia relapse. It is listed on the TSX under the ticker HBP and is preparing for a Nasdaq uplisting.
Cash stood at $804,000 at July 31, 2026, and the working capital deficit was $4.18 million. The company said it is seeking financing, and clinical work has been deferred pending funds. The filing also lists $3.67 million of 25% convertible debentures with a conversion price of $1.42.
The company said a secured bridge and a larger raise to start the planned L-DOS47 trial would be the next catalyst.
Helix BioPharma's June Debenture Placement
According to akta.pro company records, Helix BioPharma closed a C$3,673,000 private placement of convertible debentures in June 2026. The debentures bear interest at 25% per annum and mature 14 months from the closing date, and they convert at C$1.42 per share. The proceeds were designated for drug development and working capital.
The same records show a cash balance of C$2,842,000 as of April 30, 2026, up from $65,000 as of July 31, 2025. The company's total funding on record is $22.4 million, with the last round dated January 9, 2025.
Board Changes Before the Annual Results
Helix BioPharma appointed Karen Krumeich, Jamieson Bondarenko, Charmaine Lykins and Dirk Brockstedt to its board effective September 28, 2026, according to The future of trading. Krumeich was named board chair and audit committee chair, and Bondarenko joined the reconstituted audit committee.
In August 2026, the company announced board changes effective immediately, including the resignation of Janusz Grabski and the appointment of CEO Thomas Mehrling as a director, Yahoo reported.
Financing Needed for the L-DOS47 Trial
The company has said the start of the planned L-DOS47 trial depends on a secured bridge and a larger raise. Its own announcement of the fiscal 2026 results sets out the financing requirement.