Helus Pharma (HELP)
Helus is advancing deuterated psilocin, a metabolite of psilocybin, in MDD and GAD. It looks like an attractive challenger to CMPS, with strong IP and a differentiated corporate strategy.
In Phase 2, HELP showed the best MADRS delta seen thus far. HELP is now coming up on their Ph3 readout, where we will see whether they are a ‘me-too’ or a ‘me-better’ to CMPS.
Here is our preview of the readout (~15 pages).