Helus Pharma Rings Nasdaq Bell Post-Cybin Rebrand

TORONTO – Helus Pharma Inc., rebranded from Cybin Inc., opened trading on the Nasdaq Global Market under the ticker symbol $HELP, marking a shift from the NYSE American where it previously traded as $CYBN. The transition followed the company’s last day on the NYSE American the prior Friday, a step designed to broaden its investor base in the competitive biotech arena.

Based on company statements, the name change from Cybin to Helus Pharma underscores a deliberate shift toward the late-stage development of treatments targeting mental health disorders. Founded in 2019, the firm has built a portfolio around novel serotonergic agonists – molecules that stimulate serotonin receptors to foster brain plasticity without the full hallucinogenic effects of traditional psychedelics.

Its lead candidate, HLP003, enters Phase 3 trials as an adjunct therapy for major depressive disorder, with topline data slated for later this year. A Phase 2 program for HLP004 in generalized anxiety disorder follows closely behind. These efforts pair the compounds with proprietary deuteration techniques, which swap hydrogen atoms for heavier deuterium isotopes to extend drug half-lives and improve dosing consistency, a technical edge that could set Helus apart in patent battles and manufacturing scalability.

From an investment standpoint, the Nasdaq move carries weight. Exchanges like Nasdaq often draw more institutional money and analyst coverage than the NYSE American, potentially lifting liquidity for a stock that closed Friday at around $0.35 per share, down from highs above $5 in 2021.

Yet the psychedelic therapeutics field remains a high-wire act. Regulatory scrutiny from the FDA persists, even as breakthroughs like Compass Pathways‘ recent PTSD trial designs gain traction elsewhere in the sector. Helus’s deuterated approach sidesteps some intellectual property clashes seen in direct psychedelic analogues. However, the success will largely depend on clean trial results – data that could validate or challenge the broader thesis of serotonin modulation as a frontline mental health tool.