viewHelix BioPharma Corp.

Noble reiterates Outperform rating on Helix BioPharma following in-line 2Q results

Noble noted Helix BioPharma has a cash position of $16 million this year

Helix BioPharma Corp. - Noble Capital Markets reiterates Outperform rating on Helix BioPharma on recent quarterly results that met expectations
The company's lead drug, L-DOS47, is in Phase II clinical trials for the treatment of non-small cell lung cancer and pancreatic cancer

Noble Capital Markets has reiterated its Outperform rating on Helix BioPharma Corp (TSE:HBP) (OTCMKTS:HBPCF), noting that the healthcare firm’s recent quarterly results had met expectations. 

Noble also maintained its $2.50 price target on Helix’ BioPharma's stock, which traded up slightly to $1.49 a share in Toronto late Wednesday morning.  

The Toronto-based company is developing an immune-oncology drug platform for the treatment of cancer that is designed to modify the tumor microenvironment to become hostile for fighting immune system cells.

READ: Helix BioPharma seeing good progress in clinical trials of cancer-fighting drug

Its lead drug, L-DOS47, is in Phase II clinical trials for the treatment of non-small cell lung cancer and pancreatic cancer.

Helix BioPharma on Monday reported second-quarter FY2020 results that included a consolidated net loss of $2.26 million, compared to $1.91 million in the prior-year quarter. 

However, Noble noted that the increase in net loss was due to higher research and development expenses to support ongoing cancer clinical programs. Helix also has divested 51% of its stake in a Polish subsidiary and plans to divest the remaining 49% stake before the end of 2020.

Noble also said Helix BioPharma’s boost in its cash position “is welcome news.”

Helix announced that it has raised a total of $16 million this year, “which we believe is important as the company can utilize the capital to fund its ongoing clinical programs for the treatment of pancreatic cancer and non-small cell lung cancer (NSCLC),” Noble said. 

Analysts added: “We believe that Helix's current share price does not fully reflect the value of the company's unique platform technology, which is designed to modify the tumor microenvironment. Helix's lead drug L-DOS47 is being developed for the treatment of pancreatic cancer and NSCLC, which combined represent a multi-billion dollar commercial opportunity. Based on the analysis of existing data, we believe positive results from ongoing clinical trials could potentially act as a positive catalyst for the shares. We are reiterating our Outperform rating and $2.50 target price.”

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Helix BioPharma Corp.

Price: 0.87 CAD

Market: TSX
Market Cap: $115.65 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Helix BioPharma Corp. named herein, including the promotion by the Company of Helix BioPharma Corp. in any Content on the Site, the Company...



Full interview: Helix BioPharma closes financing as they look to uplist to...

Helix BioPharma (TSE: HBP) CEO Dr Heman Chao sat down with Steve Darling from Proactive in New York to share details they have just completed a fundraise. Chao also talked about his desire to uplist the company to the Nasdaq.  Dr Chao also told Proactive what is planned this year in the...

on 6/2/20

2 min read