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Helix Biopharma Corp. Announces Fiscal 2022 Second Quarter Results
RICHMOND, ON / ACCESSWIRE / March 16, 2022 / Helix BioPharma Corp. (TSX:HBP), (" Helix " o...
About this update from Helix Biopharma Corp.
[{"type":"text","content":"Helix Biopharma Corp. Announces Fiscal 2022 Second Quarter ResultsRICHMOND, ON / ACCESSWIRE / March 16, 2022 / Helix BioPharma Corp. (TSX:HBP), (\" Helix \" or the \" Company \"), a clinical-stage biopharmaceutical company developing unique therapies in the field of immuno-oncology based on its proprietary technological platform DOS47, today announced fiscal 2022 second quarter results for the period ending January 31, 2022.OVERVIEWThe Company reported a net loss and total comprehensive loss of $2,019,000 and 3,832,000 for the three and six-month periods ended January 31, 2021. For the three and six-month periods ended January 31, 2021, net loss and total comprehensive loss totalled $2,492,000 and $2,714,000, respectively. The net loss and total comprehensive loss for the three-month period ending January 31, 2021 included a net loss of $626,000 and for the six-month period ending January 31, 2021 a net gain of $1,536,000 as a result of the loss of control of a subsidiary and ultimately, a final tranche disposition on December 22, 2020 for gross proceeds of $2,308,000.On March 11, 2022, the Company announced the closing of a private placement for gross proceeds of $1,001,000 from the issuance of 3,850,000 common share at a price of $0.26 per common share. In addition, the Company also announced that it has applied to the Toronto Stock Exchange (the \" TSX \") to introduce an early warrant exercise incentive program (the \" Incentive Program \") to temporarily reduce the exercise price of its issued and outstanding common share purchase warrants that are not held by insiders of the Company, or non-arm's length parties, including all such warrants expiring on March 31, 2022 to May 12, 2026, from their current respective exercise prices to a reduced exercise price of $0.26 up until April 28, 2022. The implementation of the Incentive Program is subject to the approval of the TSX.Earlier today, the Company also announced the unexpected, sudden, passing of its Interim Chief Executive Officer and Chairman of the Board of Directors of the Company, Dr. Slawomir Majewski. The Board is currently considering the Company's options with respect to the potential appointment of one or more individuals to assume Dr. Majewski's responsibilities as Interim Chief Executive Officer in the near term. The Board also continues the process of identifyin...