Definium Therapeutics Investors Remain Concerned Over Psychedelics' Commercial Scalability, RBC Says

MT Newswires Live10-19

Definium Therapeutics (DFTX) investors remain concerned over commercial scalability, evidenced by the pullback in shares, despite its DT120's strong efficacy data in generalized anxiety disorder and major depressive disorder, RBC Capital Markets said in a Monday note.

The concerns relate to psychedelics' "novel delivery paradigm" but RBC said its survey and prior checks indicated that current infrastructure can accommodate DT120's launch and even its post-launch scale. Feedback indicated potential adoption of the product candidate, according to the brokerage.

RBC also cited DT120 phase 3 data in the two indications, noting the product candidate's efficacy, safety and extended durability. The de-risked data package positions for possible approval in both generalized anxiety disorder and major depressive disorder, giving the company more access to more than $2 billion in future sales opportunities, the investment firm added.

RBC has an outperform rating and $66 price target on Definium.

Price: 33.01, Change: +0.91, Percent Change: +2.82

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