People taking Definium Therapeutics' DT120 showed long-lasting reductions in their depression symptoms compared to a placebo, the company announced Monday.

Definium Therapeutics said that its LSD therapy helped patients with major depression in its first Phase 3 trial, bringing the psychedelic drug closer to a potential approval.

Definium's LSD drug DT120 hit its Phase 3 MDD primary endpoint, beating analyst expectations with significant improvement in depression symptoms.