Neurodegenerative Drug Stocks Surge 10%, Market Cap Increases by 370 Billion Won Amid Phase 3 Expectations

Definium Therapeutics Inc. (NASDAQ: DFTX) climbed 9.68% on May 20, closing at $22.89 and lifting its market capitalization to approximately $2.496 billion. In a single session, its market cap expanded by roughly $268 million, while trading volume topped 1.41 million shares, signaling strong buying demand.

The company said it has accelerated its pipeline after dosing the first patient in “Ascend,” the second Phase 3 trial of its major depressive disorder treatment candidate DT120 ODT. Including Ascend, Definium is conducting four Phase 3 studies of its LSD-derived DT120 platform for anxiety disorders and depression, and the FDA has granted Breakthrough Therapy designation for the generalized anxiety disorder indication.

Rebranded from MindMed in January 2026, Definium Therapeutics is now a New York–headquartered biotech focused on central nervous system therapies. With DT120—a single-dose, orally disintegrating tablet—aiming to reshape treatment paradigms for both generalized anxiety disorder and major depressive disorder, investor interest has been fueled by the prospect of multiple Phase 3 readouts and upcoming financing events scheduled throughout 2026.