Mentioned:
The United States Food and Drug Administration has just granted a new Breakthrough Therapy Designation to a LSD based drug. And a publicly traded company is behind it.
What’s happening:
- Definium Therapeutics (NASDAQ: DFTX) has been awarded a Breakthrough Therapy Designation by the United States Food and Drug Administration for their LSD based novel therapeutic DT120 for depression
Why it matters:
- This is the first time ever that the United States Food and Drug Administration has given a Breakthrough Therapy Designation to a publicly traded company developing an LSD based novel therapeutic for treating depression
Going deeper:
- Definium Therapeutics recently published results from their Phase III clinical trial for DT120 which validated that a single dose led to significant improvement in patients with major depressive disorder compared to placebo and the benefits lasted for roughly 12 weeks
- Definium Therapeutics was notably previously awarded a Breakthrough Therapy Designation for DT120 for treating generalized anxiety disorder
The intrigue:
- Eli Lilly (NYSE: LLY) also just made their first major bet on psychedelic derived medicines when they entered into a deal to acquire AtaiBeckley (NASDAQ: ATAI) for up to $3.8B USD
