Helus Pharma (NASDAQ: HELP) (Cboe CA: HELP) announced that Michael Cola has stepped down as Chief Executive Officer effective immediately at the request of the Board. Co-founder and Executive Chairman Eric So has been appointed as Interim CEO while a search for a permanent successor is underway. The leadership transition is intended to ensure continuity as the company advances its clinical pipeline, including the anticipated fourth-quarter topline data readout from the APPROACH trial of HLP003, while maintaining focus on long-term value creation for patients and shareholders.
The change comes at a critical juncture for Helus Pharma, which is developing novel serotonergic agonists (NSAs) designed to activate serotonin pathways believed to promote neuroplasticity. The company's lead candidate, HLP003, is in Phase 3 clinical development for the adjunctive treatment of major depressive disorder and has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. A second candidate, HLP004, is in Phase 2 for generalized anxiety disorder. The company also has an extensive research portfolio of investigational NSAs.
Helus Pharma, the commercial operating name of Cybin Inc., was founded in 2019 and aims to address the large unmet need for people who suffer from depression, anxiety, and other mental health conditions. The company states that its proprietary NSAs are intended to provide durable improvements in mental health. With class-leading data, Helus Pharma aims to improve the treatment landscape through the introduction of these therapies.
The full press release can be viewed at https://ibn.fm/3Gp8X. For company updates and more information, visit www.helus.com.
