Helus Pharma Inc. (HELP) Stock Price & How to Invest

Helus Pharma Inc., which began trading on the Nasdaq under the ticker HELP in early 2026 (previously CYBN on NYSE American) and completed its legal name change from Cybin Inc. on October 1, 2026 after shareholders approved it on September 22, is a Toronto-based clinical-stage pharmaceutical company. The ticker did not change, and the shares also trade on Cboe Canada. Its lead program is HLP003 (also referenced as CYB003), a deuterated psilocybin analog with FDA Breakthrough Therapy Designation that is being studied as an adjunctive treatment for major depressive disorder in a registrational Phase 3 program called PARADIGM, which includes the APPROACH and EMBRACE studies. A second candidate, HLP004, a deuterated DMT compound, is in Phase 2 for generalized anxiety disorder. These are neuroactive serotonergic molecules designed to be administered in a supervised clinical setting.

As a pre-revenue biotech, Helus has no product sales and reports widening net losses as it funds late-stage trials: the net loss for the fiscal year ended March 31, 2026 was about $210 million, up from ~$113 million the year before, and the trailing twelve-month loss is about $171 million. The company held roughly $166 million in cash and no debt at June 30, 2026, giving it a runway measured in quarters rather than years, and it has repeatedly raised equity to extend that runway. The stock closed near $10.73 on October 16, 2026, up about 30% year to date and 76% over the past year, though it is down ~13% in the past month after a run toward its 52-week high of ~$15. The investment picture is binary and event-driven: management expects topline APPROACH data in Q4 2026 and has said it plans to file a New Drug Application in 2028 if the broader Phase 3 program supports it. Positive data and a clear regulatory path could re-rate the stock sharply, while a trial miss, a financing gap, or heavy dilution could impair it. This is a high-risk, high-variance profile typical of psychedelic-medicine developers.

As a clinical-stage company, Helus has no revenue and posts ongoing net losses (about $171 million over the trailing twelve months as of October 2026), so it depends on trial success and repeated financing to survive. A Phase 3 miss, ambiguous data, or safety signal for HLP003 would be highly damaging given the concentration in a single lead program, and the Q4 2026 readout is close. Equity raises have diluted existing holders and are likely to continue until the company reaches profitability, which is not forecast in the near term; analysts expect losses through at least fiscal 2028. Regulatory uncertainty around psychedelic therapies, the operational complexity of supervised administration, and competition from other developers add further risk. The stock is volatile (its 52-week range runs from ~$3.76 to ~$15.15) and can move sharply on single data points.

10 analysts publish price targets on HELP, averaging $40.44 against a $10.55 price as of October 2026, or +283.3%. The published targets run from $15.00 to $70.62, a wide spread, and the ratings split 11 buy, 0 hold, 0 sell. Over the last six months there has been 1 raise and 2 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full HELP forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Helus Pharma Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Phase 3 depression readout. The PARADIGM program (APPROACH plus EMBRACE) testing HLP003 in major depressive disorder is the central catalyst. The most optimistic published target, $70.62, assumes this works close to its best case.

The case against. As a clinical-stage company, Helus has no revenue and posts ongoing net losses (about $171 million over the trailing twelve months as of October 2026), so it depends on trial success and repeated financing to survive. The most pessimistic target, $15.00, is roughly what HELP is worth if this bites instead.

Read the full bull and bear case on HELP, including what would have to change to break either one. Walnut is not an investment adviser.

Yes. Helus Pharma Inc. (HELP) has had 2 share splits in the last 10 years:

• 149:1000 on November 10, 2020, so every share held became 0.149 shares.
• 1:38 on September 19, 2024, so every share held became 0.02631578947368421 shares.

A split changes the share count and the price per share and leaves the value of a holding unchanged. Someone holding $1,000 of HELP the day before the 1:38 split held $1,000 the day after, in more shares at a proportionally lower price. Historical prices from before the date are normally shown split-adjusted, which is why a long-run chart shows no cliff.

Splits matter mainly because they make older price figures confusing to compare by hand, and because a board choosing to split is usually signalling that the price has run up far enough to feel awkward for smaller buyers. Neither is a reason to buy or sell.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Helus Pharma Inc.'s investor relations page or your broker.

• Share price: ~$10.73 (Oct 16, 2026)
• Market cap: ~$784M
• Revenue (TTM): $0 (pre-revenue)
• Net loss (TTM): ~$171M
• Cash: ~$166M, no debt (June 30, 2026)
• Operating cash burn (TTM): ~$141M
• Latest quarter EPS: -$1.26 vs -$1.38 estimate

Standard earnings multiples do not apply because Helus has no revenue and runs at a loss while funding Phase 3 trials. At roughly $784 million, the market value is now well above the ~$166 million cash balance, so investors are assigning a substantial premium to the pipeline ahead of the Q4 2026 Phase 3 data, a bigger bet than earlier in the year. Valuation will hinge on trial outcomes and any resulting financing rather than on current financials.

Other names that sit close to HELP: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get HELP exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so HELP sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where HELP fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

HELP is a speculative clinical-stage psychedelic-medicine biotech where the investment case turns on the Q4 2026 Phase 3 depression readout and cash runway rather than any existing revenue or profit.

Whether HELP is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is HELP a buy or a sell?, and where the stock could go from here in the HELP stock forecast.

For income investors, whether HELP pays a dividend and how the payout looks is covered in does HELP pay a dividend? And to weigh HELP against a peer, read the full side-by-side comparisons: HELP vs COMP and HELP vs GH.