Definium Therapeutics reported strong progress in developing DT120 ODT, its proprietary formulation of LSD, with three Phase 3 topline data readouts expected within the coming months. The company ended the first quarter with cash, cash equivalents, and investments of $373.4 million, expected to fund operations into 2028.
The company completed enrollment in two major trials: the Emerge study for major depressive disorder with 149 participants, with topline data expected in late 2Q 2026, and the Voyage study for generalized anxiety disorder with 214 participants, with topline data expected in early 3Q 2026. The Panorama study for GAD updated its target enrollment to 200 participants with screening closed, and topline data is expected in late 3Q 2026. Definium expanded its development program into PTSD with plans to initiate the Haven Phase 3 study, expected to enroll approximately 200 participants with study initiation expected in 2027.
Research and development expenses increased substantially to $41.5 million for the first quarter compared to $23.4 million in the first quarter of 2025, an increase of $18.1 million primarily due to expanded DT120 ODT program expenses. General and administrative expenses were $17.7 million compared to $8.8 million in the prior year quarter, driven by increased stock-based compensation, personnel costs, commercial-preparedness expenses, and corporate affairs.
DT120 ODT is a fast-dissolve tablet formulation of lysergide tartrate, an ergoline derivative and partial agonist at serotonin-2A receptors. The formulation incorporates Catalent’s Zydis ODT technology designed to deliver faster absorption, improved bioavailability, and lower gastrointestinal side effects compared to other approaches. Definium is developing DT120 for generalized anxiety disorder, major depressive disorder, posttraumatic stress disorder, and exploring potential applications in other serious brain health disorders.
This article is an AI-assisted summary. All facts and figures are drawn from the original report: https://www.financialcontent.com/article/bizwire-2026-5-7-definium-therapeutics-reports-first-quarter-2026-financial-results-and-recent-highlights