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Definium Therapeutics, Inc., a clinical biopharmaceutical company, develops novel product candidates to treat brain health disorders. The company's lead product candidates DT120, which is in phase 3 for the treatment of generalized anxiety disorder, major depressive disorder, and other brain health disorders; and DT402, a R-enantiomer of 3,4-methylenedioxymethamphetamine, which is in phase 2a clinical trials for the treatment of autism spectrum disorder. The company was formerly known as Mind Medicine (MindMed) Inc. and changed its name to Definium Therapeutics, Inc. in January 2026. Definium Therapeutics, Inc. is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-178M | $-184M | $-132M | -55.3% | - | - |
| 2024 | $0M | $-106M | $-109M | $-79M | -45.0% | - | - |
| 2023 | $0M | $-92M | $-96M | $-64M | -122.5% | - | - |
| 2022 | $0M | $-63M | $-57M | $-50M | -37.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 0 | 0 | 0 | 0 |
| Operating Expense | 66.33 | 93.87 | 103.92 | 166.31 |
| Operating Income | -66.33 | -93.87 | -103.92 | -166.31 |
| EBITDA | -63.15 | -91.65 | -105.87 | -178.31 |
| EBIT | -66.33 | -94.81 | -106.40 | -178.31 |
| Pretax Income | -56.80 | -95.73 | -108.68 | -183.79 |
| Tax Provision | 0 | 0 | 0 | 0 |
| Net Income | -56.80 | -95.73 | -108.68 | -183.79 |
| Net Income Common Stockholders | -56.80 | -95.73 | -108.68 | -183.79 |
| Total Expenses | 66.33 | 93.87 | 103.92 | 166.31 |
| Interest Expense | 0 | 0.92 | 2.28 | 5.48 |
| Interest Income | 0 | 5.58 | 11.56 | 10.96 |
| Research And Development | 36.17 | 52.12 | 65.30 | 117.67 |
| Selling General And Administration | 30.16 | 41.74 | 38.62 | 48.64 |
| Normalized EBITDA | -71.19 | -85.17 | -91.83 | -155.35 |
| Normalized Income | -64.83 | -89.25 | -94.64 | -160.83 |
| Basic EPS | -1.84 | -2.44 | -1.54 | 0 |
| Diluted EPS | -1.84 | -2.44 | -1.54 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Total Unusual Items | 8.04 | -6.48 | -14.04 | -22.96 |
| Total Unusual Items Excluding Goodwill | 8.04 | -6.48 | -14.04 | -22.96 |
| Net Income From Continuing Operation Net Minority Interest | -56.80 | -95.73 | -108.68 | -183.79 |
| Reconciled Depreciation | 3.18 | 3.16 | 0.53 | 0 |
| Net Interest Income | 1.50 | 4.66 | 9.28 | 5.48 |
| Net Income From Continuing And Discontinued Operation | -56.80 | -95.73 | -108.68 | -183.79 |
| Total Operating Income As Reported | -66.33 | -93.87 | -103.92 | -166.31 |
| Diluted Average Shares | 30.86 | 39.16 | 70.46 | 0 |
| Basic Average Shares | 30.86 | 39.16 | 70.46 | 0 |
| Diluted NI Availto Com Stockholders | -56.80 | -95.73 | -108.68 | -183.79 |
| Net Income Including Noncontrolling Interests | -56.80 | -95.73 | -108.68 | -183.79 |
| Net Income Continuous Operations | -56.80 | -95.73 | -108.68 | -183.79 |
| Other Income Expense | 8.04 | -6.53 | -14.04 | -22.96 |
| Other Non Operating Income Expenses | 0 | -0.05 | 0 | 0 |
| Special Income Charges | 0 | 0 | 2.54 | 0 |
| Other Special Charges | 0 | 0 | -2.54 | 0 |
| Gain On Sale Of Security | 8.04 | -6.48 | -16.58 | -22.96 |
| Net Non Operating Interest Income Expense | 1.50 | 4.66 | 9.28 | 5.48 |
| Total Other Finance Cost | -1.50 | -4.66 | 0 | 0 |
| Interest Expense Non Operating | 0 | 0.92 | 2.28 | 5.48 |
| Interest Income Non Operating | 0 | 5.58 | 11.56 | 10.96 |
| General And Administrative Expense | 30.16 | 41.74 | 38.62 | 48.64 |
| Other Gand A | 30.16 | 41.74 | 38.62 | 48.64 |
| Operating Revenue | 0 | 0 | 0 | 0 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Definium Therapeutics, Inc.this co. | DFTX | $2.2B | - | 6.09 | -55.3% | -10.05 |
| Guardian Pharmacy Services, Inc. | GRDN | $2.4B | 48.17 | 11.56 | 22.6% | 23.10 |
| Relay Therapeutics, Inc. | RLAY | $2.4B | - | 3.85 | -48.8% | -5.76 |
| BioCryst Pharmaceuticals, Inc. | BCRX | $2.3B | 7.43 | -16.08 | -221.4% | 7.00 |
| Axogen, Inc. | AXGN |
| $2.2B |
| - |
| 15.30 |
| -12.2% |
| -1002.00 |
| Adaptive Biotechnologies Corporation | ADPT | $2.2B | - | 9.51 | -26.4% | -52.76 |
| GRAIL, Inc. | GRAL | $2.1B | - | 0.78 | -15.8% | -3.15 |
| Mineralys Therapeutics, Inc. | MLYS | $2.1B | - | 3.22 | -23.9% | -8.50 |
| Tyra Biosciences, Inc. | TYRA | $2.0B | - | 7.00 | -46.3% | -11.87 |
| Peer Median | - | 27.80 | 5.43 | -25.2% | -7.13 | |