Cybin Announces $50M Offering, Massively Dilutive to $1.35M Market Cap
HELP sits 27% above its 52-week low of $3.76.
Summary
Cybin Inc. (Helus Pharma) announced a $50 million underwritten offering of 10,309,280 common shares at $4.85 per share. This offering is approximately 37 times the company's current market capitalization of $1.35 million, representing extreme dilution for existing shareholders. The capital raise will fund ongoing clinical programs, including HLP003 for major depressive disorder, which recently surpassed 86% enrollment in its Phase 3 trial. Phase 3 APPROACH data for HLP003 is expected in the fourth quarter of 2026.
At the time of this announcement, HELP was trading at $4.76 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.3M. The 52-week trading range was $3.76 to $9.83. This news item was assessed with negative market sentiment and an importance score of 10 out of 10. Source: GlobeNewswire.