Jefferies Assigns 65–75% Probability of Best-in-Class Efficacy for Definium Therapeutics, Inc.’s (DFTX) DT120 in Phase III

Core Insights - Definium Therapeutics, Inc. (NASDAQ:DFTX) is recognized as one of the most promising psychedelic stocks by hedge funds [1][2] Group 1: Stock Performance and Analyst Ratings - Jefferies initiated coverage of DFTX with a Buy rating and a price target of $30, citing a 48% remission rate for its lead candidate DT120 in a Phase IIb trial for generalized anxiety disorder [3] - Baird raised its price target for DFTX from $16 to $37 while maintaining an Outperform rating, reflecting optimism about DT120's potential impact on major depressive disorder [4] - Jefferies estimates a 65%–75% probability that DT120 will demonstrate best-in-class efficacy in upcoming Phase III trials scheduled for Q2 [3][9] Group 2: Company Developments - DFTX appointed Roger Adsett, the current COO of Insmed, to its Board of Directors, expanding the board from six to seven members and enhancing the leadership team [5] - The company, formerly known as MindMed, focuses on developing psychedelic-inspired therapies for psychiatric and neurological disorders, with multiple late-stage programs [6]