Is Definium Therapeutics, Inc. (DFTX) Stock a Biotech Opportunity After Positive DT120 Depression Trial Data?

We recently compiled a list of the 7 Best Psychedelic Stocks to Buy According to Analysts. Definium Therapeutics, Inc. (NASDAQ:DFTX) is one of the best psychedelic stocks on our list.

TheFly reported on June 30 that Canaccord reduced its price target on DFTX to $58 from $60 while reaffirming a Buy rating on the shares. The firm noted that the company recently delivered strong Phase 3 results from the EMERGE trial evaluating DT120, an orally disintegrating LSD d-tartrate tablet for major depressive disorder. The positive clinical outcome was well received by investors and enabled Definium to raise approximately $805 million in new capital. Canaccord updated its financial model to reflect the recent financing transaction and the resulting increase in the company’s outstanding share count.

Photo by Florian van Duyn on Unsplash

Separately, it was reported on June 25 that Definium Therapeutics, Inc. announced the completion of its previously disclosed underwritten public offering of 23,676,471 common shares, including the full exercise of the underwriters’ option for additional shares. The shares were sold at a public offering price of $34.00 per share, generating approximately $805 million in gross proceeds before expenses. Definium plans to allocate the proceeds toward advancing its research and development programs, preparing for the potential commercialization of DT120 ODT if approved, and supporting general corporate needs. J.P. Morgan, Jefferies, Leerink Partners, and BofA Securities served as joint lead bookrunners for the offering, which closed on June 25, 2026.

Definium Therapeutics, Inc. (NASDAQ:DFTX) is a clinical-stage biopharmaceutical company developing psychedelic and psychoplastogenic therapies for brain health disorders, including anxiety, depression, and autism spectrum disorder.

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