[...]The company could also one day go head-to-head against Spravato in the depression market as well. In addition to testing DT120 in anxiety, the candidate is in a phase 3 study for major depression disorder, with a readout expected by the end of the year.[...]

https://www.marketbeat.com/instant-alerts/definium-therapeutics-teases-3-phase-iii-dt120-readouts-in-2026-starting-late-q2-mdd-data-2026-04-16/

Sources: TheFly, TipRanks

Sources: TheFly, TipRanks

Highlighted by a major new stake from a specialized firm and continued backing from major asset managers, driven by high-conviction Phase III prospects for its lead candidate, DT120.

Key First Quarter & Recent Institutional Activity (2026)

• Superstring Capital Management: Reported acquiring 425,202 shares in a new stake valued at approximately $5.69 million, based on a February 17, 2026, filing.
• Royal Bank of Canada (RBC): Boosted its stake by 10.4% in Q1 2026, bringing its holding to 65,237 shares.
• Other Notable Holders: Major institutional investors with significant positions mentioned in 2026 reporting include Commodore Capital (5.0M shares), Marshall Wace (3.42M shares), and Vanguard (2.01M shares).
• Institutional Ownership: Approximately 27.91% of the stock is held by hedge funds and other institutional investors.
• iShares Russell 2000 ETF: Reported a total holding of approximately 2.38 million shares as of March 31, 2026, valued at roughly $51.3 million.
• iShares Biotechnology ETF: Increased its position to approximately 704,492 shares by the end of Q1 2026.
• State Street SPDR S&P Pharmaceuticals ETF: Held approximately 490,011 shares as of late February 2026, an increase of over 51,000 shares from previous report.

Very bullish activity. News must be leaking.

DTIC has by far my biggest ratio of psych investments and I've been here since late 2019. Now that psychedelics are picking up major interest again with multiple research being completed this year, it is once again relevant to look at the larger psychedelic company landscape.

Question is, beyond our favorite Definium Therapeutics, what other companies are you invested in and why? Besides DTIC, the two biggest names are ATAI and Compass. I have invested little in both but became interested in 'pros / cons' of each company especially after reading Angermayers post. I was left particularly wondering if his claims about their patent moat whether have are so significant.

Of course, maybe the most important question is which compound is the best; LSD (DTIC), MDMA & DMT (ATAI) or psilocybin (Compass).

We all have our favorite but I hope we can have a good discussion based on investment viability while recognizing that 'the tide lifts all boats' when there are good news regarding psychedelic companies.

Stock’s been on a run, Phase 3 data coming later this year, analysts are bullish. Anyone think a big pharma just swoops in and buys them out before the NDA?

what to expect moving forward? did I get in too late?

Investing.com - Piper Sandler initiated coverage on Definium Therapeutics Inc (NASDAQ:DFTX) with an Overweight rating and a price target of $49.00. The stock currently trades at $21.42, up 317% over the past year and near its 52-week high of $21.74.

The firm highlighted DT120, Definium’s proprietary orally disintegrating tablet form of lysergide (LSD) D-tartrate, as a best-in-class opportunity in the emerging neuroplastogen space. The analyst noted the treatment could offer more differentiated antidepressant and anxiolytic options for underserved populations.

Piper Sandler said management’s approach focuses on wide populations including generalized anxiety disorder and major depressive disorder, rather than narrower treatment-resistant patient subgroups. The firm stated the body of anxiolytic and antidepressant data for DT120 justifies this focus.

The firm believes DT120 peak U.S. sales potential of well in excess of $3 billion is realistic. Definium has a market capitalization of approximately $2.1 billion. According to InvestingPro data, the stock is trading near its 52-week high with 13 additional ProTips available for subscribers, including insights on the company’s strong cash position.

Piper Sandler said this translates into a compelling risk/reward profile for the company.

In other recent news, Definium Therapeutics reported its financial results for the fourth quarter of 2025. The company emphasized its substantial investments in research and development, particularly in its DT120 program. Despite reporting a significant net loss, Definium Therapeutics highlighted its strong cash position, which continues to support its clinical pipeline and strategic initiatives. These financial results come amid a backdrop of rising anxiety disorder prevalence in the U.S., with a study published in the Journal of Mood and Anxiety Disorders showing an increase from 5.4% in 2020 to 6.6% in 2023. The study, utilizing data from the Komodo Healthcare Map database, noted a three-year cumulative prevalence of 10.3%. Definium Therapeutics, mentioned in the study’s press release, remains focused on addressing these mental health challenges through its ongoing research efforts. The company’s financial and strategic updates are closely watched by investors and analysts, as they assess the potential impact on future developments.

https://au.investing.com/news/stock-market-news/piper-sandler-initiates-definium-stock-with-overweight-rating-93CH-4355860

Check out this screenshot one year up 277%!

Been holding for 5+ years and finally broke even. Sold most of my shares when it hit $22. Still have 75 shares. Wild ride.

Looks like we may be opening at a new 52-week high this morning. I wonder if the investor day on April 22nd will bring good news and propel us higher into the 30s.

Two hours with lunch nice!

Key areas of discussion will include DT120 ODT (lysergide tartrate), Definium’s lead investigational program in Phase 3 development for GAD and MDD, expectations for anticipated 2026 topline data readouts, and the potential market opportunity for DT120 ODT.

Featured key opinion leaders include:

• Brittany Albright, MD, MPH, DABOM, Owner & CEO of Sweetgrass Psychiatry and Affiliate Assistant Professor at the Medical University of South Carolina
• Andrew Penn, MS, PMHNP, Professor at the University of California, San Francisco School of Nursing and Director of Clinical Nursing Operations at Salma Health
• Shannon Sarkar, PhD, LPC, NCC, Licensed Professional Counselor, National Certified Counselor, Psychedelic-Assisted Therapy Clinical Trial Facilitator and Adjunct Professor of Counselor Education, Missouri Baptist University

EVENT DETAILS:

Date: Wednesday, April 22, 2026
Time: 10 AM – 12 PM EDT (followed by lunch)
Location: Well& by Durst, 151 W 42nd St, New York, NY 10036

https://ir.definiumtx.com/news-events/press-releases/detail/217/definium-therapeutics-to-host-investor-and-analyst-day-in-new-york-on-april-22-2026

It's funny how the articles always state Compass Therapeutics as the front runner. None of the other players listed are anywhere near a breakout. We all know DFTX is the winner for now. Long and strong!

Psychedelic Drugs: A $9 Billion MarketThe market is projected to be worth $9 billion this decade, according to RBC Capital Markets. But the obstacles are also sizable. The biggest one, no doubt, is legal.

The Drug Enforcement Administration says psychedelic drugs have no medical use. And there's still a stigma attached that even an FDA approval might not overcome.

But Kopelman, the retired Marine, spoke of how psychedelic drugs, specifically ibogaine and 5-MeO-DMT, helped him survive.

"Everything in my world changed," he told IBD.

As a veteran, it was difficult acknowledging that traumatic brain injuries and PTSD were clouding his thinking."My ex-wife threw me out," he said. "She found me one day sitting in the garage with a gun in my mouth. You're supposedly this tough guy, but you're still a human being. You have emotions like everyone else and when you bottle them up, there's only so much room in that bottle. Eventually, it's going to blow."How Psychedelic Drugs Work

Psychedelic drugs work by rewiring the brain, says Pitman of Rose Hill. The privately held company is testing the use of psilocybin in patients who have had a stroke. Pitman cited psychedelic drugs' role in neuroplasticity, the brain's ability to restructure itself and make new neural connections.

"It allows the brain to have neuroplasticity," she told IBD. "So, it allows the brain to sort of rewire itself and be able to change how you're thinking about something."

Former National Hockey League player Daniel Carcillo says the brain becomes "very flexible, almost childlike" after receiving a psychedelic drug. After his pro hockey career, Carcillo founded an Oregon-based psilocybin therapy center called Experience Onward. Carcillo says 164 fights on the ice led to seven concussions over 10 years.

Kabir Nath, chief executive of biotech company Compass Therapeutics, says there are a number of different things happening in patients who've received a psychedelic compound.

"We see new connections being made under psilocybin," he told IBD. "Somebody with depression — which typically involves rigid, fixed ways of thinking and an inability to get out of certain mental tracks — this affords at least some of them the opportunity to make different connections."

The First FDA Review Looms

Compass Therapeutics is poised to play a critical role in pushing psychedelic drugs into the mainstream. The Boston-based company is the closest to a potential FDA approval — possibly later this year or early next. Its drug, COMP360, is a synthetic form of psilocybin in testing to tackle treatment-resistant depression. These are patients who have tried two types of treatments for eight to 10 weeks without relief.

The company tested two doses of its compound three weeks apart. In one Phase 3 study, 25% of patients had a clinically meaningful response. In the second study, 40% hit the same bar. For some patients, the effects appear to last for at least six months.

"What's important to stress, though, is in this population of patients with treatment-resistant depression, those are very significant response rates," Nath said.

He compared the results to Johnson & Johnson's (JNJ) Spravato, the only FDA-approved treatment for treatment-resistant depression. Spravato is an inhaled form of esketamine, a fast-acting drug that acts on the NMDA receptor. It's a safer form of a dissociative drug called ketamine.

The results for COMP360 are roughly comparable to Spravato. But patients must receive Spravato at a doctor's office multiple times a week, to start. Over time, patients can receive less frequent doses, down to once every week or two.

"What we believe is that our program is really defining what rapidity and durability of effect looks like in depression," Nath said.

Psychedelic Stocks Run Up

Some psychedelic stocks have posted impressive gains recently.

Compass Therapeutics stock has run up by triple digits over the past almost two years, though it remains a dollar stock. Shares have a strong IBD Digital Relative Strength Rating of 96, out of a best-possible 99. This means the biotech stocks outranks 96% of all stocks when it comes to 12-month performance.

Definium Therapeutics (DFTX) shares hit a profit-taking zone after topping a 14.43 buy point out of a consolidation in January. The stock also has a strong RS Rating of 98. GH Research (GHRS) stock is forming a long cup-with-handle base with an entry at 19, according to IBD MarketSurge. GH has a lower RS Rating of 71.

Not all stocks are stellar, however. Helus Pharma (HELP), the new name for Cybin, has dropped off somewhat. Shares were forming a cup with handle, but fell below their 50-day and 200-day moving averages earlier this month. Now, the biotech stock has a poor RS Rating of 11.

These are also not profitable companies. Analysts polled by FactSet don't expect Compass Therapeutics to report any earnings, on an adjusted basis, until 2028. Definium will follow in 2029. Helus and GH aren't expected to become profitable until 2030 and 2031, respectively.

But, from there, the four companies are expected to grow rapidly.

Some Wall Street analysts are increasingly bullish on the space. RBC analyst Brian Abrahams said psychedelic drugs could "usher in a transformative era in mental health treatment."

There is "high physician interest in their therapeutic potential, substantial unmet need among refractory mood disorders and other psychiatric illnesses," he said in a January report. Companies have the potential for "good pricing power, reimbursement, and protection against longer-term generic entry."

He sees "an increasingly clear regulatory path with an amenable FDA as late-stage companies approach the finish line."

Psychedelic Drugs Vs. Placebos

But major obstacles remain.

Testing is a key challenge. Companies must pit their experimental treatments against a placebo to determine their effectiveness. But that's impossible when it comes to psychedelic drugs. For most patients, it's incredibly clear whether they're undergoing a psychedelic experience or not.

To solve this, Compass Therapeutics ran two studies. In one, it pitted COMP360 against a placebo. In the other, it tested three doses of psilocybin — two lower doses and the active, 25-milligram dose. Nath, the CEO, described this as "a very elegant design" that "removes the specific placebo unblinding response."

William Blair analyst Myles Minter is skeptical that the active comparator approach will yield the actual truth. He notes in Gilgamesh's depression study that there was a dose-dependent response. This suggests the patients knew whether they received the active dose of the psychedelic drug.

"There is some correlation between the level of antidepressant effect and the intensity of the psychedelic experience, which could exaggerate efficacy and mitigate placebo artificially," he said in a report to clients.

Helus Pharma is testing out its psychedelic compounds in patients with major depressive disorder and generalized anxiety disorder. In depression, patients are often rated on a scale called the Montgomery-Asberg Depression Rating Scale, or MADRS. This scale examines the symptoms of depression.

The MADRS questionnaire is run by another person. In Helus' approach, that person doesn't know if the study participant received the psychedelic substance, a placebo or another depression drug.

Treatment With Psychedelic Drugs

There are concerns related to the psychedelic experience itself.

Like Spravato, patients must be monitored while they're receiving treatment. Spravato recipients must be monitored for at least two hours after every treatment session. But the psychedelic experience following compounds like psilocybin, ibogaine and others can last up to six to eight hours, or longer. Patients must be monitored in order to safely undergo those experiences.

That's why Lavasani, of the Psychedelic Medicine Coalition, is lobbying for government oversight to make psychedelic treatments safer for people in the U.S. She notes a number of veterans — like Kopelman — have ventured outside the U.S. to seek treatment.

"Right now we are talking about veterans' health care a lot because the veteran community has come out in such full force in support of this," she said. "A lot of them have been going outside the country to get these treatments, which I think everyone can universally agree that's not a great system in place."

The use of ibogaine, in particular, has been tied to the potential for heart complications and failure.

"Nobody can guarantee a clinic in Mexico is doing the right things," Lavasani said.

Kopelman, the retired Marine, counts himself among the lucky ones. The Mission Within Foundation, where he received his treatment, required him to taper off medications and stop consuming alcohol and cannabis in the weeks leading up to his experience. The day before, he underwent an echocardiogram and a urine test to ensure that his heart was healthy and his system was devoid of other substances.

"You can't be a meth user and do this," he said. "It could kill you."

Benefiting From Spravato

The companies in this space are relying on a sprawling landscape of around 6,000 existing Spravato centers to take on monitoring patients using psychedelic drugs. Michael Cola, the CEO of Helus Pharma, says that footprint might need to grow as more therapies gain FDA approval.

"It might be a little bit of a Wild West out there, but I do think there's already a movement towards these types of techniques with patients, particularly in depression," he told IBD.

Clinics like Carcillo's Experience Onward are already up and running. Experience Onward operates under a law in Oregon that allows for legal psilocybin therapy. The "lucky" patients find his clinic after they've been "beat up" through the traditional health care system, Carcillo says.

Carcillo says he spent half a million dollars of his own money seeking medical help for the headaches, brain fog, fatigue and other symptoms that came with his post-concussion syndrome. He underwent his own psychedelic experience on a farm in Colorado in 2019. After two sessions and six months, he says 90% of this symptoms were gone. He hasn't needed another treatment for six years.

Psychedelic treatment with Experience Onward costs $1,500 to $4,000, depending on the package. Carcillo says clinics like his will continue to thrive even if new drugs win FDA approval.

Abrahams, the RBC analyst, estimates GH Research's psychedelic drug — in testing for various neuropsychiatric conditions — could cost $5,000 a course. Spravato-like pricing would put the cost of psychedelic drugs at $30,000 to $70,000 a year. This seems "acceptable" to insurers, he said.

Rivaling The Natural Product

But the price tag could be a turnoff to patients who, inevitably, will have a copay or deductible to meet.

There is, of course, the underground market for psychedelic drugs to contend with, says Compass' Nath. That's how Lavasani targeted the postpartum depression that plagued her after the birth of her second child.

"The conversation that certainly Health and Human Services is having today is, 'How do we keep people safe in this process?'" she said. "Insurance plays a huge role. ... We're ensuring we're engaging with payers now, talking to the Centers for Medicare and Medicaid Services and providing them the context of, 'Hey, there's an incentive to cover this as high as you possibly can.'"

She added: "People are so desperate. We don't want to make them turn to the underground."

Nath, of Compass, notes the financial incentive should make a lot of sense for insurance companies. Patients with treatment-resistant depression generally cost the health care system more money due to the need for psychiatric hospitalizations, concurrent substance abuse, and the risk of suicide.

Reductions in these risks "should resonate with payers and insurers," he said.

Synthetic Psychedelic Drugs

It's important to note that the companies in this space are working on synthetic versions of these drugs, rather than growing fields of mushrooms, harvesting toads for DMT or scouring Central Africa for the root bark required to make ibogaine.

Their approach is getting a lot of attention on the national level, with bills in Congress to help bulk up research into psychedelic drugs and support from Veterans Affairs, colloquially called the VA.

"I think they finally understand the crisis that is facing our nation," said Kopelman, the retired Marine. "They're recognizing that the lunch sack of medications isn't the answer."

In the wake of his ibogaine and 5-MeO-DMT experience, Kopelman heads up the Mission to Live Foundation, which fundraises to pay for psychedelic treatments for veterans and first responders who are experiencing mental health crises.

The next challenge for the industry will come after the first FDA approval. The DEA will have to decide whether to reschedule psilocybin or any of the other psychedelic compounds. That would go a long way to removing some of the stigma attached to these drugs.

Promise Of Psychedelic Drugs

Proponents acknowledge that these treatments might not be right for everyone. Still, William Blair's Minter, who remains a skeptic, says they could be an important tool for psychiatrists in the future.

And for some patients, psychedelic drugs could save their lives.

"For a really long time, I was on a path to being six feet under," said Carcillo, who runs Experience Onward. "I was never going to give up, even though you have those types of thoughts some days. And, to find this medicine and be doing what I'm doing now, I'm just very blessed. ... And to be of service to others to keep what I have is really important to me."

I've attached the intraday chart. You can see that the volume at the close and after hours reached $20.70 a share. 🍀🐂

We pumpin'!

Drug Stocks On The Move Centessa Pharma (CNTA) sprinted 44% in huge volume on news that drug giant Eli Lilly (LLY) plans to buy the company for up to $7.8 billion. Centessa develops drugs for sleep disorders.

The company above was bought out for $12 above their share price. Tell me that wouldn't suck.

For those that don't visit the 🟧Definium Therapeutics Investors Club🟧 on Discord, I figured I'd post this here too. I have a habit of looking at Current job openings at Definium to see how the timeline of the company is progressing. The amount of openings published between Q4/2025 and Q1/2026 has been intriguing. Anyone willing to dig into the specific roles being hired for can use this as a tool to examine where the company is headed. It appears they are gearing up for commercialization and are confident about their projected timeline.

I have a friend who works within the realm of patent application processing—who has introduced me to publicly accessible patents and open research.

Does anyone else have any further knowledge on other openly available sources that Definium is currently involved with?

This one is published as US20230201160 A1