Mentioned:
Definium Therapeutics has just completed a massive new capital raise. And they are aiming to use it to bring their most advanced psychedelic derived drug into commercialization.
What’s happening:
- Definium Therapeutics (NASDAQ: DFTX) has successfully raised $805M USD in a new equity financing round
By the numbers:
- Definium Therapeutics issued roughly 23.6M common shares at a price of $34.00 USD per share as part of the new funding round
Why it matters:
- This is the single largest capital raise that Definium Therapeutics has ever done
Going deeper:
- Definium Therapeutics recently published new results from their Phase III clinical trial for their LSD based novel therapeutic DT120 ODT that validated that a single dose led to significant improvement in patients with major depressive disorder compared to placebo and the benefits lasted for roughly 12 weeks
- Definium Therapeutics has publicly stated they will use the new growth capital to fund the research and development of their drug pipeline and prepare for the potential commercialization of DT120 ODT if it receives approval from the United States Food and Drug Administration
