**Definium Therapeutics, Inc. Reports Annual Financial Results and Operational Progress**
Definium Therapeutics, Inc., formerly Mind Medicine (MindMed) Inc., a late-stage clinical biopharmaceutical company focused on brain health disorders, today released its financial results for the year ended December 31, 2025. The company, now trading on Nasdaq under the symbol "DFTX," reported a net loss of $183.8 million, compared to a net loss of $108.7 million in the previous fiscal year. This increase in net loss is primarily attributed to escalating research and development expenses as the company advances its clinical pipeline. As of December 31, 2025, Definium held $411.6 million in cash, cash equivalents, and investments.
The company's research and development expenses for 2025 totaled $117.7 million, a significant increase from the $65.3 million reported in 2024. This rise is largely due to the progression of DT120, the company's lead product candidate, into Phase 3 clinical trials for Generalized Anxiety Disorder (GAD) and Major Depressive Disorder (MDD). General and administrative expenses also saw an increase, reaching $48.6 million in 2025 compared to $38.6 million in the prior year, reflecting expanded operational activities and pre-commercialization efforts.
Operationally, Definium made substantial progress in its clinical programs. The company initiated Phase 3 trials for DT120 in both GAD (Voyage study) and MDD (Emerge study), with topline readouts anticipated in the third quarter of 2026 and late second quarter of 2026, respectively. A second Phase 3 trial for MDD, Ascend, is expected to dose its first patient by early second quarter 2026. Additionally, a Phase 2a trial of DT402 in Autism Spectrum Disorder (ASD) was initiated in the fourth quarter of 2025, with initial data expected in 2026. Employee headcount stood at 106 as of December 31, 2025, with 72 dedicated to research and development and 33 in general and administrative roles.
Looking ahead, Definium anticipates its existing cash resources will fund operations into 2028, based on current operating plans and anticipated research and development milestones. The company plans to continue advancing its clinical pipeline, seeking regulatory approvals, and exploring business development opportunities to expand its portfolio. However, the company acknowledges the inherent risks and uncertainties associated with drug development, including potential delays, regulatory hurdles, and competition, which could impact its financial performance and ability to achieve its strategic objectives.
About Mind Medicine (MindMed) Inc.
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