Definium rises on FDA's 'breakthrough' tag for depression drug
BUZZ-Definium rises on FDA's 'breakthrough' tag for depression drug ** Shares of Definium Therapeutics DFTX.O rise 2.2% to $38.92
** Co says its LSD-based experimental pill DT120 receives FDA breakthrough therapy designation to treat major depressive disorder, or MDD
** The breakthrough therapy tag is meant to speed up development and review of drugs to treat serious conditions or those with unmet medical needs
** The FDA grants the tag after late-stage trial data show DT120 significantly reduces depression symptoms versus placebo
** The tag "provides another vote of confidence that DFTX's trial designs are aligned with FDA expectations," say Stifel analysts
** DT120 now holds FDA breakthrough therapy tag for both MDD and generalized anxiety disorder
** As of last close, stock more than doubled YTD
(Reporting by Kamal Choudhury in Bengaluru)