Definium Therapeutics
Develops lysergide and R(-)-MDMA drug candidates for anxiety, depression and autism.
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Profile
Develops psychedelic- and empathogen-derived drug candidates for psychiatric and neurological disorders, led by Phase 3 lysergide tablet DT120 ODT for anxiety and depression and early-stage R(-)-MDMA candidate DT402 for autism. With no approved products or product sales, the business depends on clinical and regulatory success under controlled-substance rules.
Develops investigational medicines derived from psychedelic and empathogen drug classes for psychiatric and neurological disorders. The pipeline centers on DT120 ODT, an orally disintegrating form of lysergide tartrate in Phase 3 programs for generalized anxiety disorder and major depressive disorder, with a posttraumatic stress disorder study planned. Positive topline results have been reported from pivotal anxiety and depression studies; additional studies in both conditions continue.
Also advances DT402, a proprietary R(-)-MDMA candidate in an early-stage autism spectrum disorder study. Operations are centered in the United States, with global headquarters in New York. No product is approved or generating sales, making the business dependent on clinical results, regulatory approval and commercialization. Both lead compounds are controlled substances, adding registration, handling and scheduling requirements.
Company facts
Key statistics
Year to date +200% · Average volume (30d) 2.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 14, 2026 | Maxim Group | Reiterate | Buy | $55 | |
| Aug 13, 2026 | Canaccord Genuity | Reiterate | Buy | $58 | $64 |
| Aug 13, 2026 | Robert W. Baird | Target | $37 | $75 | |
| Aug 12, 2026 | RBC Capital | Reiterate | Outperform | $36 | $66 |
| Aug 12, 2026 | Needham | Reiterate | Buy | $50 | $66 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.54 | −$1.44 | −166.2% | — | — | — | 0.00% |
| May 7, 2026Q1 FY26 | −$0.49 | −$0.71 | −44.3% | — | — | — | −4.96% |
| Feb 26, 2026Q4 FY25 | −$0.48 | −$0.51 | −5.4% | — | — | — | +0.93% |
| Nov 6, 2025Q3 FY25 | −$0.52 | −$0.78 | −50.0% | — | — | — | +3.17% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | $0 | $0 | $0 | $0 | |
| Operating income | −$32.2M | −$40.9M | −$45.7M | −$47.6M | −$59.2M | −$75.1M | |
| Net income | −$23.3M | −$42.7M | −$67.3M | −$50.4M | −$77.1M | −$159.0M | |
| Diluted EPS | −$0.35 | −$0.50 | −$0.78 | −$0.50 | −$0.71 | −$1.44 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $1.08B · Total debt $36.5M · Total assets $1.11B · Shareholders' equity $918.7M
Dividends
No dividends on record.
Ownership
Shares outstanding 132.74M · Float 128.87M · 97.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 11.23M | 8.46% | 13F | Aug 7, 2026 |
| Avoro Capital Advisors LLC | 7.19M | 5.42% | 13F | Aug 14, 2026 |
| Driehaus Capital Management LLC | 6.85M | 5.16% | 13F | Aug 14, 2026 |
| Jupiter Topco LLC | 5.62M | 4.23% | 13F | Aug 14, 2026 |
| Capital World Investors | 5.37M | 4.04% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 25, 2026 | Matthew T. Wiley | officer: Chief Commercial Officer | −2,867 | $45.03 |
| Jun 25, 2026 | Daniel Karlin | officer: Chief Medical Officer | −10,035 | $45.03 |
| Jun 25, 2026 | Robert Barrow | director, officer: Chief Executive Officer | −29,208 | $45.03 |
| Jun 25, 2026 | Brandi Roberts | officer: Chief Financial Officer | −3,013 | $45.03 |
| Jun 25, 2026 | Mark Sullivan | officer: Chief Legal Officer | −13,008 | $45.03 |
Peers
- Helus Pharma
Phase 3 psychedelic MDD therapy with FDA Breakthrough; Phase 2 GAD program
- Atai Beckley
Psychedelic-derived biopharma; BPL-003 BTD for TRD, R-MDMA EMP-01 mirrors MM402
- Compass Pathways (ADR)
Psilocybin COMP360 on rolling FDA NDA for TRD; first psychedelic near approval
- GH Research
Inhaled 5-MeO-DMT GH001 Phase 3-ready in TRD; ultra-rapid remission
- Axsome Therapeutics
AUVELITY is the only FDA-approved rapid-acting oral MDD drug; the launch bar
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Definium Therapeutics | $41.00 | +0.05% | $5.44B | — | — | — | — |
| Helus Pharma | $12.35 | +1.56% | $755.0M | — | — | — | — |
| Atai Beckley | $7.29 | 0.00% | $2.70B | — | — | 602.9 | +137.0% |
| Compass Pathways (ADR) | $13.79 | +0.56% | $1.85B | — | — | — | — |
| GH Research | $28.16 | +1.04% | $1.92B | — | — | — | — |
| Axsome Therapeutics | $199.00 | −0.04% | $10.24B | — | 1,707.6 | 13.2 | +44.2% |
| Median | — | 1,707.6 | 308.1 | +90.6% |