Definium Therapeutics reports successful Phase 3 trial for LSD-based anxiety drug

Definium Therapeutics has reported positive topline results from its Panorama Phase 3 clinical trial for DT120, an orally disintegrating tablet containing lysergide (LSD) for the treatment of generalized anxiety disorder (GAD). The study, which involved 245 adults, showed that a single 100-microgram dose reduced anxiety scores on the Hamilton Anxiety Rating Scale by 9.8 points over 12 weeks, compared to a 4.7-point decline in the placebo group.

CEO Robert Barrow stated the results confirm “unprecedented efficacy” for the treatment. This marks the company’s second successful late-stage study for GAD. The company plans to meet with the U.S. Food and Drug Administration (FDA) in late 2026, with a target for filing a marketing application in the first half of 2027.

Following the announcement, Definium Therapeutics shares saw significant volatility, rising as much as 12% before paring gains. Financial analysts at firms including Robert W. Baird have maintained positive outlooks, with Baird raising its price target to $79.00.