Definium Therapeutics, Inc.
Business
Definium Therapeutics (formerly Mind Medicine) is a late-stage clinical biopharmaceutical company developing pharmaceutical product candidates derived from psychedelic and empathogen compounds to treat brain health disorders. Its lead program, DT120 ODT (lysergide D-tartrate), is in Phase 3 trials for generalized anxiety disorder and major depressive disorder, with breakthrough FDA designation for GAD; DT402 (R(-)-MDMA) is in Phase 2a for autism spectrum disorder. The company develops small-molecule compounds through contract manufacturers and conducts clinical trials in the United States, European Union, and United Kingdom.
Summary from 10-K filed 2026-02-26
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development | 118 | 65 | 52 | 36 | 35 | |
| General and administrative | 49 | 39 | 42 | 30 | 59 | |
| Total operating expenses | 166 | 104 | 94 | 66 | 94 | |
| Loss from operations | −166 | −104 | −94 | −66 | −94 | |
| Interest income | 11 | 12 | 6 | — | — | |
| Interest expense | −5 | −2 | −920,000 | — | — | |
| Foreign exchange loss, net | −131,000 | −638,000 | 157,000 | 195,000 | −86,000 | |
| Change in fair value of 2022 USD Financing Warrants | −23 | −16 | −7 | 8 | — | |
| Gain on extinguishment of contribution payable | 0 | 3 | 0 | — | — | |
| Total other expense, net | −17 | −5 | −2 | 10 | −339,000 | |
| Net loss | −184 | −109 | −96 | −57 | −93 | |
| Unrealized gain on investments | 330,000 | — | — | — | — | |
| Gain/(loss) on foreign currency translation | −64,000 | 476,000 | −284,000 | −419,000 | 762,000 | |
| Comprehensive loss | −184 | −108 | −96 | −57 | −92 | |
| Net loss per common share, basic | −2.06 | −1.54 | −2.44 | −1.84 | −3.4 | |
| Net loss per common share, diluted | −2.06 | −1.54 | −2.44 | −1.84 | −3.4 | |
| Weighted-average common shares, basic | 89 | 70 | 39 | 31 | 27 | |
| Weighted-average common shares, diluted | 89 | 70 | 39 | 31 | 27 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 258 | 274 | 100 | 142 | 134 | |
| Short-term investments | 154 | 0 | — | — | — | |
| Prepaid and other current assets | 8 | 8 | 4 | 4 | 4 | |
| Total current assets | 419 | 282 | 104 | 146 | 137 | |
| Goodwill | 20 | 20 | 20 | 20 | 20 | |
| Other non-current assets | 862,000 | 613,000 | 224,000 | 331,000 | — | |
| Total assets | 440 | 302 | 125 | 170 | 164 | |
| Accounts payable | 5 | 2 | 4 | 2 | 4 | |
| Accrued expenses | 20 | 13 | 12 | 6 | 6 | |
| 2022 USD Financing Warrants | 41 | 24 | 16 | 10 | — | |
| Total current liabilities | 67 | 39 | 32 | 18 | 10 | |
| Credit facility, long-term | 41 | 22 | 14 | — | — | |
| Other non-current liabilities | 496,000 | — | 32,000 | 1 | 2 | |
| Total liabilities | 108 | 61 | 46 | 19 | 12 | |
| Commitments and contingencies (Note 11) | — | — | — | — | — | |
| Common shares, no par value, unlimited authorized as of December 31, 2025 and 2024, respectively; 98,776,265 and 75,100,763 issued and outstanding as of December 31, 2025 and 2024, respectively | — | — | 0 | — | — | |
| Additional paid-in capital | 914 | 640 | 368 | 345 | 288 | |
| Accumulated other comprehensive income | 1 | 819,000 | 343,000 | 627,000 | 1 | |
| Accumulated deficit | −583 | −399 | −290 | −194 | −138 | |
| Total shareholders' equity | 332 | 241 | 78 | 151 | 152 | |
| Total liabilities and shareholders' equity | 440 | 302 | 125 | 170 | 164 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −184 | −109 | −96 | −57 | −93 | |
| Stock-based compensation | 20 | 17 | 15 | 14 | 43 | |
| "Change in fair value on directors' deferred share units (""DDSU"")" | 1 | 761,000 | — | — | — | |
| Amortization of intangible assets | 0 | 527,000 | 3 | 3 | 3 | |
| Accretion of discounts and premiums on investments, net | −2 | 0 | — | — | — | |
| Unrealized foreign exchange | 0 | 506,000 | −363,000 | −148,000 | — | |
| Other non-cash adjustments | 230,000 | 787,000 | 56,000 | 43,000 | — | |
| Prepaid and other current assets | 152,000 | −4 | 39,000 | −260,000 | −2 | |
| Other noncurrent assets | 30,000 | 48,000 | 51,000 | −180,000 | — | |
| Accounts payable | 3 | −2 | 2 | −2 | 1 | |
| Accrued expenses | 6 | 3 | 5 | −416,000 | 5 | |
| Other liabilities, long-term | −40,000 | −32,000 | −1 | −870,000 | — | |
| Net cash used in operating activities | −132 | −79 | −64 | −50 | −46 | |
| Purchases of investments | −268 | 0 | — | — | — | |
| Maturity of investments | 117 | 0 | — | — | — | |
| Net cash used in investing activities | −152 | 0 | — | — | −297,000 | |
| Proceeds from equity offerings | 259 | 250 | — | — | — | |
| Payment of equity offering costs | −16 | −16 | 0 | — | — | |
| Proceeds from credit facility | 42 | 10 | 15 | — | — | |
| Repayment of credit facility | −22 | 0 | — | — | — | |
| Payment of credit facility issuance costs | −447,000 | −128,000 | −844,000 | — | — | |
| Proceeds from the 2022 ATM net of issuance costs | 0 | 984,000 | 8 | 42 | 82 | |
| Payment of deferred financing fees related to 2024 ATM | 0 | −499,000 | 0 | — | — | |
| Proceeds from exercise of 2022 USD Financing Warrants | 4 | 8 | 114,000 | 708,000 | 11 | |
| Proceeds from exercise of options | 625,000 | 716,000 | 49,000 | 206,000 | 6 | |
| Proceeds from issuance of common shares under ESPP | 412,000 | 0 | — | — | — | |
| Withholding taxes paid on vested RSUs | 0 | −54,000 | 0 | −407,000 | — | |
| Net cash provided by financing activities | 267 | 253 | 22 | 59 | 99 | |
| Effect of exchange rate changes on cash | −7,000 | −30,000 | 79,000 | −309,000 | 742,000 | |
| Net increase/(decrease) in cash and cash equivalents | −16 | 174 | −42 | 9 | 53 | |
| Cash paid for interest and final payment for credit facility | 5 | 2 | 534,000 | — | — | |
| Conversion of 2022 USD Financing Warrants to common shares upon exercise of warrants | 6 | 8 | 64,000 | — | — | |
| Issuance of common shares upon conversion of term loan principal | 1 | 3 | — | — | — | |
| Lease liabilities arising from obtaining right-of-use assets | 586,000 | 0 | — | — | — | |
| Amortization of deferred financing costs for 2024 ATM | 250,000 | 0 | — | — | — | |
| Offering issuance costs in accrued liabilities | 92,000 | 0 | — | — | — | |
| Reclass of Deferred Financing Fees to Additional Paid-In Capital | 0 | 332,000 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Definium Therapeutics, Inc.'s CIK number?
Definium Therapeutics, Inc.'s SEC CIK number is 0001813814 (1813814). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Definium Therapeutics, Inc.'s SEC filings?
All of Definium Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Definium Therapeutics, Inc. last report earnings?
Definium Therapeutics, Inc. (DFTX) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-211929). This is Definium Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Definium Therapeutics, Inc.'s most recent earnings 8-K?
Definium Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001193125-26-211929. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Definium Therapeutics, Inc.'s latest earnings 8-K →
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