Definium Therapeutics (DFTX) AI Stock Analysis

• Market Cap: $1.71B
• Dividend Yield: N/A
• Average Volume (3M): 1.74M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.61
• Revenue Growth: N/A
• EPS Growth: 0.69%
• Country: US
• Employees: 74
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Pharmaceuticals
• EPS (TTM): -0.78
• Shares Outstanding: 98,509,280
• 10 Day Avg. Volume: 1,159,456
• 30 Day Avg. Volume: 1,744,292
• PEG Ratio: 0.12
• Price to Book (P/B): 2.03
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.20
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -10.33
• 1Y Price Target: $35.89
• Price Target Upside: 109.52% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: $18.50 ▲(8.00% Upside)

The score is held back mainly by weak financial performance (no revenue, sizeable ongoing losses, and heavy cash burn), partially offset by a stronger near-term setup from the earnings call (financing runway and clear Phase III catalysts) and supportive technical momentum. Valuation remains challenging due to negative earnings and no dividend support.

Positive Factors

Near-term funding / runway

A strong cash balance and multi-year runway materially reduce near-term financing pressure and allow sustained investment in pivotal trials. This supports multi-year clinical programs and strategic planning, lowering immediate dilution risk and preserving optionality for partnerships or commercialization planning.

Late-stage pipeline catalysts

Multiple late-stage readouts provide clear, durable binary value drivers that can materially reshape commercial prospects. Successful Phase III outcomes would create long-lived revenue potential and de-risk the R&D roadmap; strong enrollment trends support timelines and execution probability.

Clinical validation and credibility

Peer-reviewed publication in a leading medical journal strengthens scientific credibility and regulatory discussions, improving partner/investor confidence. This durable validation aids recruitment, label discussions, and business development, raising the long-term probability of commercialization or strategic deals.

Negative Factors

No revenue; widening losses

The company remains pre-revenue and loss-making, with losses materially increasing year-over-year. Absent successful clinical outcomes or partnerships, the path to sustainable earnings is uncertain; persistent deficits will drive ongoing funding needs and potential equity dilution over the medium term.

Sustained negative cash flow

Large, sustained negative operating and free cash flow raises structural financing risk. Even with current cash, continued high burn rates make the business sensitive to trial delays or cost inflation and increase the likelihood of future capital raises that could dilute shareholders or constrain strategic options.

Eroding equity / funding dependence

A meaningful drop in shareholders' equity over a short period signals capital erosion and reliance on external financing. This weakens the balance-sheet buffer against adverse clinical or regulatory outcomes and increases the company's vulnerability to funding market conditions when additional capital is needed.

Definium Therapeutics Business Overview & Revenue Model

Company Description

Definium Therapeutics, Inc. is a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders. The company’s lead product candidates include MM120, which is in phase 3 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder; and MM402, a R-enantiomer of 3,4-methylenedioxymethamphetamine, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder. Mind Medicine (MindMed) Inc. is headquartered in New York, New York.

How the Company Makes Money

Mind Medicine makes money through a revenue model that primarily involves research and development activities aimed at creating marketable psychedelic-inspired therapeutics. The company's key revenue streams are anticipated to come from the successful commercialization of its drug candidates, which are currently under various stages of clinical trials. Additional revenue could be generated through strategic partnerships with pharmaceutical companies, licensing agreements, and collaborations with research institutions. MindMed may also explore opportunities for grants and government funding to support its research initiatives. However, as a biotech company still in the development phase, substantial revenue generation is contingent upon regulatory approval and market acceptance of its therapeutic products.

Definium Therapeutics Financial Statement Overview

Summary

Income statement and cash flow are weak (no revenue, persistent and widening losses, and large sustained free-cash-flow burn). Balance sheet risk is tempered by low leverage and zero debt, but equity has declined meaningfully, underscoring ongoing funding dependence.

Income Statement

Across the available annual periods and TTM (Trailing-Twelve-Months), the company reports no revenue and consistently large operating and net losses, indicating it remains in a pre-commercial, cash-consuming phase. Losses widened in TTM versus 2024 (net loss of about $168M vs. $109M), and profitability is not yet inflecting. A modest positive is that losses have fluctuated (not a straight-line deterioration every year), but the overall earnings profile remains weak with no demonstrated revenue scale.

Balance Sheet

The balance sheet shows low leverage overall, including zero total debt in TTM (Trailing-Twelve-Months), which reduces financial risk versus many loss-making peers. However, equity has declined meaningfully from 2024 to TTM (about $241M to $131M), consistent with ongoing losses and cash burn, and returns on equity are strongly negative. Assets remain sizable, but continued losses could further pressure equity and funding needs.

Cash Flow

Cash generation is a key weakness: operating cash flow and free cash flow are negative in every period, including TTM (Trailing-Twelve-Months) free cash flow of roughly -$114M. Cash burn increased versus 2024 (about -$79M), implying higher spending or lower working-capital benefit. The one constructive signal is that free cash flow growth is positive in TTM versus the prior comparison point provided, but absolute cash burn remains large and sustained, keeping financing risk elevated over time.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	-527.00K	-3.16M	0.00	0.00	0.00
EBITDA	-163.22M	-105.87M	-92.57M	-63.15M	-91.24M	-33.57M
Net Income	-168.10M	-108.68M	-95.73M	-56.80M	-93.04M	-34.10M
Balance Sheet
Total Assets	236.92M	302.15M	124.54M	169.99M	164.00M	81.52M
Cash, Cash Equivalents and Short-Term Investments	209.07M	273.74M	99.70M	142.14M	133.54M	80.09M
Total Debt	40.38M	21.85M	14.13M	72.00K	0.00	0.00
Total Liabilities	106.32M	60.70M	46.41M	19.08M	12.34M	5.65M
Stockholders Equity	130.60M	241.45M	78.13M	150.92M	151.66M	75.87M
Cash Flow
Free Cash Flow	-113.94M	-79.13M	-64.36M	-50.14M	-45.82M	-23.60M
Operating Cash Flow	-113.94M	-79.13M	-64.36M	-50.14M	-45.82M	-23.60M
Investing Cash Flow	-186.59M	0.00	0.00	0.00	-297.00K	0.00
Financing Cash Flow	25.21M	253.20M	21.85M	59.05M	98.82M	96.70M

Definium Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 17.13
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DFTX, the sentiment is Positive. The current price of 17.13 is above the 20-day moving average (MA) of 17.07, above the 50-day MA of 15.10, and above the 200-day MA of 11.03, indicating a bullish trend. The MACD of 0.49 indicates Positive momentum. The RSI at 55.29 is Neutral, neither overbought nor oversold. The STOCH value of 75.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DFTX.

Definium Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TYRA	57 Neutral	$1.57B	-16.67	-34.75%	―	―	-17.01%
DFTX	56 Neutral	$1.71B	-8.76	-85.59%	―	―	0.69%
ELVN	56 Neutral	$1.56B	-14.17	-25.43%	―	―	3.18%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ANAB	49 Neutral	$1.52B	-19.67	-308.02%	―	196.42%	53.92%
INBX	49 Neutral	$1.19B	-7.92	-144.07%	―	―	―
BHVN	48 Neutral	$1.68B	-1.50	-522.08%	―	―	18.76%

Definium Therapeutics Corporate Events

Definium Therapeutics Expands Board, Appoints New Director

On January 28, 2026, Definium Therapeutics, Inc. expanded its board of directors from six to seven members and appointed Roger Adsett to the newly created seat, with his term effective January 29, 2026 and running until the company’s 2026 annual general meeting or until a successor is chosen. Adsett, who was not assigned to any board committees at the time of appointment, will receive annual cash compensation of $40,000 under the company’s non-employee director compensation policy and an option to purchase 50,000 common shares that vests over time subject to his continued board service, reflecting a standard governance and incentive structure with no related-party arrangements or disclosable transactions reported in connection with his selection.

The most recent analyst rating on (DFTX) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Definium Therapeutics stock, see the DFTX Stock Forecast page.