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Definium Therapeutics, Inc., a late-stage biopharma focused on psychedelic-derived therapies for psychiatric and neurological disorders, reported Q2 2026 research and development expenses of $48.7 million and general and administrative expenses of $26.4 million, leading to a loss from operations of $75.1 million and a net loss of $158.986 million. For the first six months, the net loss was $236.1 million.
Total assets rose to $1,112.9 million at June 30, 2026, including approximately $1.1 billion of cash, cash equivalents and investments, driven largely by an $805.0 million June 2026 equity offering that generated $757.9 million in net proceeds. Shareholders’ equity increased to $918.7 million, and management believes current resources fund operations into 2030.
The company is advancing DT120, an orally disintegrating lysergide tablet, in multiple Phase 3 programs in generalized anxiety disorder, major depressive disorder and planned PTSD studies, and DT402 in Phase 2a for autism spectrum disorder. The Phase 3 Emerge study in major depressive disorder met its primary and all key secondary endpoints, with DT120 showing an 8.1-point placebo-adjusted improvement on the MADRS score at Week 6 (p<0.0001) and a generally tolerable safety profile.
Definium Therapeutics, Inc. reported second-quarter 2026 results alongside major clinical milestones. The Phase 3 Emerge trial in major depressive disorder randomized 149 participants 1:1 to DT120 ODT 100 µg or placebo and met its primary and all key secondary endpoints, showing an 8.1-point placebo-adjusted improvement in MADRS total score at Week 6 (Cohen’s d = 0.83; p<0.0001) and a 7.3-point improvement at Week 12. DT120 ODT was generally well tolerated, with no serious adverse events or suicidality signal observed.
The company completed enrollment in the Phase 3 Voyage and Panorama GAD studies, with topline data expected in August and September 2026, initiated the Phase 3 Ascend MDD study, and plans to start the Haven PTSD study in 2027. Definium completed an underwritten public offering of 23,676,471 common shares for gross proceeds of $805 million and net proceeds of approximately $757.9 million, ending June 30, 2026 with about $1.1 billion in cash, cash equivalents and investments versus $411.6 million at December 31, 2025. R&D expenses rose to $48.7 million and G&A to $26.4 million for the quarter. Net loss was $159.0 million, compared with $42.7 million a year earlier, largely reflecting an $86.2 million non-cash increase in the fair value of warrant liabilities; the company states its cash resources are expected to fund operations into 2030.
Definium Therapeutics, Inc. Chief Legal Officer Mark Sullivan reported an open-market sale of 13,008 Common Shares on June 25, 2026 at $45.03 per share. According to the footnote, these shares were sold to satisfy withholding tax obligations tied to the settlement of vested restricted stock units under sell-to-cover elections in a Rule 10b5-1 plan adopted on March 14, 2024. Following this transaction, Sullivan directly holds 320,571 Common Shares, indicating a continuing substantial equity position.
Definium Therapeutics Chief Financial Officer Brandi Roberts reported a small share sale tied to tax withholding. On June 25, 2026, she disposed of 3,013 common shares of Definium Therapeutics at $45.03 per share to satisfy withholding taxes from vested restricted stock units.
The transaction was executed under a previously adopted Rule 10b5-1 trading plan and represents a sell-to-cover event rather than a discretionary open-market sale. After this transaction, Roberts directly beneficially owns 209,487 common shares of the company.
Definium Therapeutics, Inc. Chief Executive Officer Robert Barrow sold 29,208 Common Shares at $45.03 per share on June 25, 2026. According to the disclosure, these shares were sold to satisfy withholding tax obligations tied to vested restricted stock units under a sell-to-cover election in a Rule 10b5-1 plan. Following this tax-related transaction, Barrow directly holds 1,098,246 Common Shares.
Definium Therapeutics, Inc. Chief Medical Officer Karlin Daniel sold 10,035 Common Shares of DFTX on June 25, 2026 at an average price of $45.03 per share. A footnote explains the shares were sold to satisfy withholding tax obligations upon settlement of vested restricted stock units under sell-to-cover elections in a Rule 10b5-1 plan adopted on June 14, 2022. Following this tax-related transaction, Daniel directly holds 503,282 Common Shares.
Definium Therapeutics, Inc. Chief Commercial Officer Wiley Matthew T. reported the sale of 2,867 Common Shares on June 25, 2026 at an average price of $45.03 per share. According to the footnote, these shares were sold to satisfy withholding tax obligations tied to the settlement of vested restricted stock units under a sell-to-cover election.
The transaction was carried out pursuant to a pre-adopted Rule 10b5-1 trading plan dated May 29, 2025, indicating it was pre-planned rather than a discretionary trade. Following this tax-related sale, Wiley beneficially owns 174,633 Common Shares directly, so the number of shares sold represents a small portion of his overall holdings.
DFTX affiliate files a Form 144 to sell 13,008 shares of Common Stock on 06/25/2026 under "Restricted Stock Vesting Under a Registered Plan." The filing shows a prior sale of 10,702 shares on 03/25/2026 for $197,665.94.
DFTX submitted a Form 144 notice to sell 2,867 shares of Common stock under a Restricted Stock Vesting Under a Registered Plan. The sale is listed with Morgan Stanley Smith Barney LLC and dated 06/25/2026.
Morgan Stanley Smith Barney LLC Executive Financial Services filed a Form 144 reporting a proposed sale of 3,013 shares of Common Stock tied to restricted stock vesting under a registered plan, with the sale date shown as 06/25/2026.