Definium Therapeutics Q3 loss narrows on warrant gain, higher interest income
DFTX•Definium Therapeutics reported a third-quarter net loss of $50.96 million, narrowed from a year earlier by a $12.4 million warrant revaluation gain and higher interest income. Cash and investments rose to $1.05 billion, which the company expects to fund operations into 2030.
1. Quarterly results
Definium Therapeutics’ third-quarter net loss narrowed from the prior year to $50.96 million. A $12.4 million warrant revaluation gain and higher interest income partly offset increased operating expenses; operating expenses were $72.28 million.
2. Development plans
The company reported positive Phase 3 DT120 ODT results in generalized anxiety disorder and received FDA Breakthrough Therapy designation for major depressive disorder. It expects to file a DT120 ODT NDA in the first half of 2027 and expects topline data from its Phase 3 Ascend study in MDD in 2027.
3. Cash and outlook
Cash and investments rose to $1.05 billion, which Definium expects will fund operations into 2030. The company plans to start the Phase 3 Haven study in PTSD in 2027.
