HELUS Pharma: Update #5

A reminder that Helus Pharma was formerly Cybin and changed the name in early 2026.

 

The psychedelic space is now under consolidation, as ATAI today has announced LLY to Acquire ATAI, for up to $3.8 billion consideration. This post is regarding Helus Pharma (HELP), and the prospects of them being acquired in the future.

Helus's (HELP) main asset is HLP003, which is a deuterated form of psilocybin in phase 3 clinical trials for adjunctive MDD. The top line readout for the 1st phase 3 APPROACH is scheduled to be released by the end of 2026. The second phase 3 EMBRACE is scheduled to complete in 2027, and the company will seek FDA approval once completing.

 

There are a number of larger companies already approved for adjunctive MDD that might find interest in obtaining Helus's asset HLP003, as the patent runs until 2041. 

Here is a list in any order of the larger companies already approved for aMDD which might see value in obtaining a quick acting psychedelic drug, with a long patent runway of 2041.

AbbVie: Drug Vraylar is approved for aMDD with patent expiring in 2030. Vraylar is a valuable asset for AbbVie and is producing total annual revenue of $3.6 billion for the company. Revenue is not broken out per indication as Vraylar has been approved for adjunctive MDD, Bi-Polar Depression and Schizophrenia. The company has already expressed an interest in the psychedelic field, as they previously purchased Gilgamesh Pharmaceuticals psychedelic drug compound Bretisilocin here, Gilgamesh-Pharmaceutical.

Johnson & Johnson: January 13th 2025 is the date that J&J made the acquisition of Intra-Cellular. After that acquisition, lead Intra-Cellular drug Caplyta was approved for aMDD in November 2025. The patent expiration for composition of matter expires in 2028, with additional patents extending out to 2034 and 2040. 

Otsuka/Lundbeck: Rexulti has been approved for aMDD since 7/10/2015, with patent expiring in 2026.  

Definium Therapeutics: DFTX is a mid-cap psychedelic stock with a $6.2 billion market cap, and looks like the best bet to go it alone in the psychedelic space, as they have substantiated clinical data for GAD, and MDD with an abundance of cash on hand. Adding a potential approval of adjunctive MDD to their offering could make them a psychedelic powerhouse. Helus also has in their pipeline HLP004 for GAD, which might also appeal to Definium by eliminating competition from their main asset DT120, or potentially modifying clinical development of HLP004, to bring a second GAD option to patients. 

I would expect AbbVie and Definium Therapeutics, to be most interested in Helus Pharma as a potential buyout. The patent for Vraylar is expiring in 2030, which means generics can proceed with gaining access to selling a generic version. AbbVie may start seeking revenue replacement for the future patent cliff.

An acquisition of Helus Pharma would not be too complicated, as the company is small with 60 million shares outstanding, additional warrants outstanding, and little debt. 

It will be interesting to see how this sector plays out over the next year. Chart below of the five major psychedelic stocks and their year-to-date performance. Thank you for reading. 

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Psychedelic Sector Update #2

A quick valuation update of the psychedelic sector. Listed are the five most advanced companies pursuing psychedelic therapies. 

Psychedelic Sector Update #1

Late last year we wrote about psychedelic stocks here Psychedelic Therapeutics. Here is quick update in the sector, of the five most advanced companies pursuing therapies.

ATAI is entering phase 3 clinical trials for lead drug candidate BLP-003 for TRD in 2026. The company is also exploring social anxiety disorder (SAD) with EMP-01, having just competed a phase 2 trial.

GHRS is also tackling TRD with an inhalant device, and will be entering phase 3 clinical trials in 2026. Both ATAI and GHRS are utilizing psychedelic mebufotenin for TRD with an inhaling device. 

CMPS is preparing for NDA filing with COMP360 for TRD through FDA discussions. They are also advancing COMP360 for PTSD, with phase 3 studies scheduled in 2026.

DFTX is using LSD for GAD and MDD, with MDD readout of the EMERGE study late second quarter.  They have BTD for GAD. GAD is their primary program.  DT120 had an effect on MDD also, in their phase 2 study. 

HELP is the only adjunctive for MDD, as concomitant is allowed in their phase 3 clinical trials. Their first phase 3 read-out for trial APPROACH is anticipated for the 4th quarter of 2026. 

DXFT’s MDD readout, anticipated by the end of the second quarter is the next catalyst for the sector.

A chart below of the five companies and their stock performance year to date. 

HELUS Pharma: Formerly Cybin - Update #4

Cybin whom we wrote about here Cybin history, has changed their name and ticker symbol as they have moved from the NYSE exchange to the Nasdaq exchange starting on January 5th. The companies name is now Helus Pharma with ticker symbol HELP. The move suits the companies prospects better trading on the Nasdaq, because of their focus on growth-oriented development. Chart of HELP below.