New York-based Definium Therapeutics, Inc. (Nasdaq: DFTX) announced the pricing of an upsized underwritten public offering of common shares, raising approximately USD 700 million in gross proceeds to fund clinical development and pre-commercialization activities for its lead psychedelic-derived psychiatric asset, with proceeds also directed toward working capital and general corporate purposes.
The offering comprised 20,588,236 common shares priced at USD 34.00 per share, with all shares sold directly by Definium. Underwriters were granted a 30-day option to purchase up to an additional 3,088,235 shares at the offering price, which if exercised in full would increase gross proceeds further. No warrants were included in the transaction. J.P. Morgan, Jefferies, Leerink Partners, and BofA Securities acted as joint lead bookrunners, with Evercore ISI and Stifel also serving as bookrunners. No specific institutional investors were identified in the announcement.
Definium is a late-stage clinical biopharmaceutical company headquartered in New York specializing in targeting psychiatric and neurological disorders through psychedelic compounds. The lead asset, DT120 ODT, an oral disintegrating tablet formulation of LSD that recently produced highly encouraging Phase III data. Definium has indicated that a portion of the offering proceeds will be directed toward preparation activities for the potential commercialization of DT120 ODT, contingent on regulatory approval, suggesting the company views a near-term approval decision as a material scenario. No specific regulatory filing dates, approval timelines, or Phase III data readouts were disclosed in the offering announcement.