Business
Definium Therapeutics Reports Full-Year 2025 Financial Results and Business Updates
Emerge (Phase 3 MDD) enrollment complete; topline data anticipated in late 2Q 2026 Voyage (Phase 3 GAD) approximately 80% enrolled; no change in sample size
About this update from Definium Therapeutics, Inc.
[{"type":"text","content":"\nEmerge (Phase 3 MDD) enrollment complete; topline data anticipated in late 2Q 2026\n\n\nVoyage (Phase 3 GAD) approximately 80% enrolled; no change in sample size required; topline readout anticipated in early 3Q 2026\n\n\nPanorama (Phase 3 GAD) enrollment on track; topline readout expected in 2H 2026\n\n\n$411.6 million in cash, cash equivalents and investments as of December 31, 2025 expected to fund operations into 2028\n\n\nConference call scheduled today at 4:30 p.m. EST\n\n\n NEW YORK--(BUSINESS WIRE)--\nDefinium Therapeutics, Inc. (“Definium” or the “Company”), a late-stage clinical biopharmaceutical company developing a new generation of therapeutics intended to address underlying causes of psychiatric and neurological disorders, today reported its full-year 2025 financial results and provided business updates.\n\n\n“We are proud of the strong execution and momentum across our organization, following a year of significant progress in our comprehensive development programs for DT120 ODT,” said Rob Barrow, Chief Executive Officer of Definium Therapeutics. “With our first Phase 3 MDD trial, Emerge, now fully enrolled and advancing toward topline data sooner than anticipated, and our Phase 3 GAD studies, Voyage and Panorama, rapidly progressing toward enrollment completion, 2026 represents a monumental year for Definium. Each of these pivotal readouts represents an important catalyst opportunity to move DT120 ODT one step closer to delivering on its best-in-class potential in both MDD and GAD. We remain committed to precise science and our ambitious view of the potential to deliver meaningful improvements for patients, reinforce our leadership in mental health innovation, and drive long-term shareholder value.”\n\n\nBusiness Updates\n\n\n\nCompleted equity financing in 4Q 2025 totaling approximately $259 million in gross proceeds, before deducting underwriting discounts and commissions and offering expenses payable by the Company, bringing in multiple new institutional investors, and extending the Company’s cash runway into 2028.\n\n\n\nPublished full study results in the Journal of the American Medical Association from the Company’s randomized, placebo-controlled Phase 2b trial evaluating a single dose of DT120 across four dose levels in patients with moderate to severe generalized anxiety disorder (GAD). DT120 has receive...