Definium Therapeutics Inc.
DFTX evidence brief
What we can confirm
- BioSniper Score:
- 5.6 / 10
- Market Cap:
- $5.14B
What it means
What to watch
Prepared research question
What matters most for DFTX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · DFTX
Definium Therapeutics Inc. (DFTX) is a late-stage clinical biopharmaceutical company developing pharmaceutically optimized psychedelic and empathogen product candidates for brain health disorders, with lead programs in generalized anxiety disorder, major depressive disorder, and posttraumatic stress disorder.
Key risk: No approved products
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Market Cap
$5.14B
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 6 clinical trials for Definium Therapeutics Inc..
Definium Therapeutics Inc. (DFTX) is a late-stage clinical biopharmaceutical company developing pharmaceutically optimized psychedelic and empathogen product candidates for brain health disorders, with lead programs in generalized anxiety disorder, major depressive disorder, and posttraumatic stress disorder.
- Lead product candidate DT120 ODT (lysergide D-tartrate) is in Phase 3 trials for GAD, MDD, and PTSD [sec · filed 2026-04-27].
- Cash, cash equivalents and investments were approximately $1.1 billion as of June 30, 2026 [sec_mda · as of 2026-08-06].
- Net loss was $159.0M for the six months ended June 30, 2026 [latest reported financials].
- Accumulated deficit reached $818.8 million as of June 30, 2026 [sec_mda · as of 2026-08-06].
- DT402, an empathogen product candidate, is in a Phase 2a trial for autism spectrum disorder (ASD) with initial data anticipated in 2026 [sec_mda · as of 2026-08-06].
What works
- Strong cash position of approximately $1.1 billion in cash, cash equivalents and investments as of June 30, 2026, providing runway for ongoing clinical programs [sec_mda · as of 2026-08-06].
- Multiple Phase 3 trials for DT120 ODT are fully enrolled or advancing, with topline data expected in 2026, indicating progress toward potential registration [sec · filed 2026-04-27].
- The company has a proprietary, pharmaceutically optimized formulation (ODT) of lysergide, which may offer advantages over unoptimized psychedelic compounds [sec · filed 2026-04-27].
- Leadership team strengthened in 2026 with appointments of a CFO and Chief Commercial Officer, adding commercial and financial expertise [sec · filed 2026-04-27].
What to weigh
- The company has never been profitable, with net losses of $159.0M for the six months ended June 30, 2026 and an accumulated deficit of $818.8 million [latest reported financials; sec_mda · as of 2026-08-06].
- All product candidates are in clinical development and have not received regulatory approval; there is no guarantee of future approval or commercialization [sec_mda · as of 2026-08-06].
- Expenses are expected to increase as trials expand and commercialization preparations begin, requiring additional capital that may not be available [sec_mda · as of 2026-08-06].
- The company relies on a novel class of psychoactive compounds (psychedelics/empathogens) which face regulatory, social, and reimbursement uncertainties [sec · filed 2026-04-27].
From the filings
Quoted directly from source documents.
DT120 ODT is in Phase 3 for GAD, MDD, and PTSD
“DT120 ODT, our proprietary, pharmaceutically optimized form of lysergide D-tartrate, is being developed for the treatment of GAD, MDD and PTSD.”
SEC filings · April 27, 2026
Cash and investments of ~$1.1B as of June 30, 2026
“As of June 30, 2026, we had an accumulated deficit of $818.8 million and cash, cash equivalents and investments of approximately $1.1 billion.”
SEC MD&A · August 6, 2026
DT402 Phase 2a for ASD initiated in Q4 2025
“We initiated a Phase 2a trial of DT402 in ASD in the fourth quarter of 2025.”
SEC filings · August 6, 2026
Risks & what to watch (4)›
Key risks
- No approved products — All candidates are in clinical trials; no regulatory approval obtained, and approval may never occur [sec_mda · as of 2026-08-06].
- Continued net losses — Net loss of $159.0M in H1 2026; accumulated deficit of $818.8M; profitability uncertain [latest reported financials; sec_mda · as of 2026-08-06].
- Regulatory and social stigma — Psychedelic-derived products face unique regulatory hurdles and societal acceptance challenges [sec · filed 2026-04-27].
- Need for additional capital — Expenses will rise with later-stage trials and commercialization; additional financing not assured [sec_mda · as of 2026-08-06].
What to watch
- Topline data from Phase 3 Voyage study (GAD) expected early Q3 2026 [sec · filed 2026-04-27].
- Topline data from Phase 3 Panorama study (GAD) expected late Q3 2026 [sec · filed 2026-04-27].
- Topline data from Phase 3 Emerge study (MDD) expected late Q2 2026 [sec · filed 2026-04-27].
- Initial data from Phase 2a DT402 study in ASD anticipated in 2026 [sec_mda · as of 2026-08-06].
Sources: SEC filings · SEC MD&A · Generated October 9, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 0.21 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
0 buys · 5 sells (180d)
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
245
Total value held
$1.48B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 8,480,230 | $160.3M |
| driehaus capital management llc | 5,911,889 | $111.7M |
| avoro capital advisors llc | 5,000,000 | $94.5M |
| janus henderson group plc | 3,556,041 | $67.2M |
| deep track capital, lp | 3,000,000 | $56.7M |
| geode capital management, llc | 2,495,399 | $47.2M |
| state street corp | 2,471,873 | $46.7M |
| octagon capital advisors lp | 2,440,000 | $46.1M |
| commodore capital lp | 2,000,000 | $37.8M |
| fmr llc | 1,809,610 | $34.2M |
Showing top 10 of 245 institutional holders of Definium Therapeutics Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 8.6%
- Days to cover
- 4.6
- Shares short
- 9,356,720
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
DFTX short interestGovernance
Frequently asked questions
What is the AI investment thesis for Definium Therapeutics Inc.?
Definium Therapeutics Inc. (DFTX) is a late-stage clinical biopharmaceutical company developing pharmaceutically optimized psychedelic and empathogen product candidates for brain health disorders, with lead programs in generalized anxiety disorder, major depressive disorder, and posttraumatic stress disorder.
Who is the CEO of Definium Therapeutics Inc.?
Mr. Robert Barrow is the chief executive officer of Definium Therapeutics Inc. (DFTX).
Where is Definium Therapeutics Inc. headquartered?
Definium Therapeutics Inc. (DFTX) is headquartered in New York, NY, United States.
What therapeutic areas does Definium Therapeutics Inc. focus on?
Definium Therapeutics Inc. develops therapies across Oncology, Neurology, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.