DFTX Stock Jumps Overnight As Investors Brace For Phase 3 Results From LSD-Based Anxiety Drug

• The study enrolled 245 adults across 32 centers and compared a single 100-microgram or 50-microgram dose of DT120 with a placebo.
• Panorama’s main goal is to determine whether DT120 reduces anxiety symptoms 12 weeks after treatment.
• DT120 is Definium’s fast-dissolving formulation of Lysergide, commonly known as LSD, designed for faster absorption and fewer digestive side effects.

Shares of Definium Therapeutics (DFTX) jumped 2% overnight late Sunday as investors awaited topline results from Panorama, the company’s second Phase 3 study of its LSD-based DT120 tablet in adults with generalized anxiety disorder.

DFTX stock closed Friday’s session 3% higher at $38.89, capping its best week in nearly a month.

Definium’s Phase 3 Panorama Trial 

The biotech firm will discuss the results at 8 am ET on Monday. Panorama enrolled 245 adults with generalized anxiety disorder across 32 study centers. Participants were randomized to receive a single 100-microgram dose of DT120, a 50-microgram dose or a placebo.

The primary endpoint is to determine how much patients’ anxiety symptoms change 12 weeks after treatment, based on a widely used clinical rating scale. Researchers will also assess changes in overall illness severity and look for signs that the drug begins working as early as Day 2 or Week 1.

The trial included a lower 50-microgram dose to make it harder for participants to tell whether they received the active drug or a placebo. After the initial 12-week placebo-controlled phase, participants may enter a 40-week extension in which everyone knows they are receiving DT120. Eligible patients can receive up to four additional 100-microgram doses, depending on symptom severity.

What Is Definium’s DT120? 

DT120 is Definium’s proprietary pharmaceutical formulation of Lysergide, commonly known as LSD. The drug activates a serotonin receptor in the brain that plays a key role in the temporary changes in perception, thinking and emotion associated with classic psychedelics.

DT120 is delivered as a fast-dissolving tablet using Catalent’s Zydis tech. Definium says the formulation can help the drug enter the bloodstream more quickly, allow the body to absorb more of it and reduce digestive side effects.

Definium is studying DT120 as a potential treatment for generalized anxiety disorder, major depressive disorder and post-traumatic stress disorder. The FDA has granted it Breakthrough Therapy designation for both anxiety and depression, which is a status intended to speed the development and review of promising treatments for serious conditions.

Positive Depression Data Boost DT120 Hopes 

Anticipation around Panorama comes after positive results from Definium’s Phase 3 Emerge depression trial. A single 100-microgram DT120 dose produced an 8.1-point improvement over placebo on a widely used depression scale at Week 6, with the benefit lasting through Week 12. The result was highly statistically significant.

The findings helped DT120 secure FDA Breakthrough Therapy designation for depression earlier this month, its second after anxiety.

Definium will present findings from its broader Phase 3 program at Psych Congress 2026, held Sept.15 - Sept. 19 in New Orleans. Its six posters will cover anxiety and depression results, DT120’s safety, trial design and suicidal ideation, while Emerge will feature in a session on emerging trends in depression.

How Do Retail Traders Feel About DFTX?

On Stocktwits, retail sentiment for DFTX flipped to ‘bullish’ from ‘bearish’ levels a day ago amid a 1,400% surge in 24-hour message volumes.

One user said, “$DFTX If you look closely you can see the next acquisition for $LLY”

Another user said, “$DFTX Next week this will fly”

DFTX stock has jumped 303% over the past year. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Read Next: Senator Bernie Turns Up Pressure On Senate Ahead Of Crucial CLARITY Act Vote, Says It Is Not ‘Final Passage’