Helix BioPharma Corp (TSE:HBP) (OTCMKTS:HBPCF) (FRA:HBP) wrapped up its fiscal second quarter with nearly C$4.1 million in cash, according to results released Tuesday evening.
The immuno-oncology company completed two rounds of private placements for gross proceeds totalling $4,100,000 during the three-month period ended January 31, 2021.
In December, Ontario-based Helix, sold off its remaining interest in its Polish subsidiary for gross proceeds of $2,308,000.
READ: Helix BioPharma announces the appointment of Dr Frank Gary Renshaw to its Scientific Advisory Board
Helix is developing unique therapies in the field of immuno-oncology for the prevention and treatment of cancer, based on its proprietary technology platform DOS47.
The company said it is currently awaiting data from its European Phase II L-DOS47, in combination with vinorelbine and cisplatin for lung cancer in Poland and Ukraine.
Helix added that it is currently completing the anti-drug antibody assays for LDOS001 (US Phase I L-DOS47 in combination with pemetrexed and carboplatin for lung cancer) with the goal of finalizing the clinical study report by April 2021. Subsequent to the quarter, the group added a new study site in March 2021 and expects to add a third site in a months' time to increase the patient enrollment rate.
Research and development expense for the 2Q 2021 totalled $1,086,000 as compared to $1,588,000 for the three-month period ended January 31, 2020, as a result of lower clinical study and intellectual property expenditures, the company said.
The company’s net loss came in at $2,492,000 compared to $2,255,000 in the year-ago quarter.
Helix is also exploring a NASDAQ listing.
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