Nasdaq Biotech Stocks Surge Over $10 Billion in Market Cap Following 'Breakthrough' LSD Depression Drug Clinical Trials

Definium Therapeutics Inc. (NASDAQ: DFTX), a biotech firm listed on the NASDAQ, closed at $42.60 on the 24th, marking a 17.74% one-day gain. With trading volume surging, its market capitalization expanded to about $4.6 billion (roughly KRW 6 trillion), and the single-day increase alone added nearly $1 billion (approximately KRW 1.3 trillion). (companiesmarketcap.com)

The stock jumped after news broke that the company’s LSD-based oral candidate, DT120, delivered “best-case”–level efficacy in a late-stage clinical trial for major depressive disorder. On Wall Street, analysts noted the rapid, sustained antidepressant effects from a single dose and suggested that price targets could be raised 50–100% above current levels. (ca.finance.yahoo.com)

Headquartered in New York, Definium Therapeutics is a clinical-stage biotech developing treatments for depression, generalized anxiety disorder, and other mental health conditions using “psychoplastogenic” compounds, including psychedelics. Until January it was known as MindMed; it then rebranded as Definium Therapeutics and adopted the ticker DFTX. The company has secured FDA Breakthrough Therapy designation for multiple Phase 3 pipeline assets, including DT120, as well as a candidate for generalized anxiety disorder. (en.wikipedia.org)