Definium Now Has $1 Billion and a 2027 Filing Date for Its LSD Pill. It Still Isn't Saying Which Disorder Goes First.
Definium Therapeutics, the company formerly called MindMed, reported third-quarter results after the market closed on Monday. It answered one of the questions we were watching for: it says it is "on track" to file a new drug application for DT120, its LSD tablet, in the first half of 2027. It didn't answer the other. The release doesn't say whether the first filing will be for generalized anxiety disorder, where two Phase 3 trials (Voyage and Panorama) came back positive, or for major depression, where one Phase 3 (Emerge) was positive and a second (Ascend, now about 165 participants) won't read out until 2027.
The money: Definium had about $1.05 billion in cash and investments on Sept. 30, up from $411.6 million at the end of 2025, and says that funds the company into 2030. The quarterly net loss was $51.0 million. Spending is rising on the business side: general and administrative costs climbed to $26.1 million from $14.7 million a year ago, which the company put down partly to government affairs and commercial preparation. It plans a first "Commercial Day" for investors in the first half of 2027 to lay out its launch strategy.
Beyond LSD: Definium also shared first results for DT402, a single mirror-image form of MDMA, in autism. The open-label study gave one 200 mg dose to five adults. The company calls the results "positive initial," citing less rigidity and anxiety and more social engagement, but the endpoints were exploratory and the study wasn't designed to draw statistical conclusions. A multiple-dose study is planned for 2027, as is Haven, a roughly 200-person Phase 3 of DT120 in PTSD.
CEO Rob Barrow said the trial results show "consistent, clinically meaningful results across three Phase 3 studies in GAD and MDD." DT120 is not FDA-approved for any use. The full program is on our trials tracker, and Definium is on our intelligence hub.