Definium shares surge after positive Phase 3 trial

Shares of Definium Therapeutics surged dramatically this week following the announcement of positive results from a pivotal late-stage clinical trial for its experimental depression treatment. The biopharmaceutical company's stock rose as much as 54 percent on Monday, June 22, after it reported that its drug candidate, DT120, met the primary goal of its Phase 3 trial for major depressive disorder.

DT120 is a proprietary, single-dose tablet formulation of lysergide, commonly known as LSD. In the trial, named EMERGE, the drug demonstrated a statistically significant and clinically meaningful reduction in depression symptoms compared to a placebo. According to the company, patients receiving DT120 showed an average 8.1-point greater improvement on a standard depression rating scale at the six-week mark. Benefits were observed as early as one week after the single dose and were sustained through the 12-week study period.

The trial involved 149 adults diagnosed with major depressive disorder. The company reported that the drug was generally well-tolerated, with approximately 99 percent of adverse events rated as mild to moderate, occurring primarily on the day of dosing. Researchers...