1. Definium Therapeutics Inc. (NASDAQ:DFTX)
Definium Therapeutics saw its share prices jump to a nearly five-year high on Monday, as investors positioned their portfolios after reporting strong results from the late-stage clinical trial of its therapy candidate for major depressive disorders (MDD).
In intra-day trading, the stock climbed to a record high of $39.16 before trimming gains to end the session just up by 49.80 percent at $36.67 apiece.
In an updated report during the day, Definium Therapeutics Inc. (NASDAQ:DFTX) said that the Least Squares Mean—a statistical method used to calculate the average improvement in depression symptom scores—stood at -13.3 for patients in the DT120 group, as compared with the -5.2 for patients in the placebo group, at week 6.
DT120 was able to achieve all key primary and secondary endpoints, demonstrating statistically significant and clinically meaningful improvement from baseline.
Definium Therapeutics Inc. (NASDAQ:DFTX) was also generally well-tolerated, with 99 percent of adverse effects only mild to moderate in severity, and were only transient and predominantly occurring on the day of dosing.
Importantly, no new safety signals were identified, including no increase in suicidal ideation or behavior. Discontinuations were also low and comparable between treatment groups.
“The Emerge topline results represent unprecedented and highly differentiated efficacy, demonstrating that a single dose of DT120 ODT can deliver rapid, robust, and durable relief in MDD,” Definium Therapeutics Inc. (NASDAQ:DFTX) CEO Rob Barrow said.
“Emerge (the study) marks a major milestone in our development program and strengthens our confidence in DT120 as a potential best-in-class treatment for mental health disorders. These findings could support a fundamentally new approach to treating MDD for patients and providers who continue to face the limitations of existing treatment options. We are deeply grateful to the patients and investigators who participated in this trial,” he noted.
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