Definiums shares surge 55% after LSD-based depression pill delivers strong results

Definium Therapeutics said a single dose of its LSD-based experimental pill significantly reduced symptoms of major depression in patients in a late-stage trial, sending its shares soaring 55% to a more than four-year high on Monday.The experimental drug helped patients record significantly lower scores on a standard depression scale than those on placebo after six weeks, with an 8.1-point difference, meeting the trial’s main goal, the company said.The pill, DT120, belongs to a class of drugs known as classic psychedelics, which temporarily alter perception, mood and thinking.It is a pharmaceutical formulation of lysergide, better known as LSD, and works by activating serotonin receptors in the brain.In April, President Trump signed an executive order to speed up access to psychedelic-based treatments.Definium shares, which have gained about 174% so far this year, were trading up 52% at $37.23.Needham analyst Ami Fadia called the results “unprecedented in the depression space,” adding the drug showed greater reductions in scores at six weeks than Johnson & Johnson’s Spravato and Compass Pathways’ COMP360 achieved at week four.Axsome Therapeutics’ Auvelity and Sage Therapeutics’ Zurzuvae are some of the other treatments for major depressive disorder (MDD).“DT120 could emerge as a worthy competitor in the MDD / TRD space with a strong clinical profile,” Fadia added.Definium said the data brings it closer to a Food and Drug Administration submission, and it was running a second late-stage depression trial.The drug was generally well-tolerated, with 99% of adverse events mild to moderate, occurring mainly on the day of dosing, and no serious safety issues or increase in suicidal thoughts observed.The trial enrolled 149 participants aged 18-74 years with MDD, the second-most common mental health disorder in the US, with more than 21 million adults experiencing a major depressive episode each year....