Definium's new psychedelics data, and a reprieve for international scientists

The episode opens with biotech news covering three major stories. First, Definium Therapeutics announced positive Phase 3 trial results showing that LSD therapy helped relieve patient anxiety, positioning the company to file for FDA approval—notably making it potentially the first psychedelic approved specifically for anxiety rather than depression or PTSD. The hosts discuss how the psychedelics field is experiencing explosive growth, with successful precedents like Johnson & Johnson's ketamine therapy and big pharma companies like Eli Lilly (which acquired Atai, which was developing 5-MeO-DMT) and AbbVie (which acquired Gigamesh) entering the space. However, they note significant real-world challenges including the need for specialized clinics, extensive clinical monitoring (8-10 hours for LSD), and high costs. Second, Scholar Rock received FDA approval for Assembild, a first-of-its-kind therapy for spinal muscular atrophy that blocks myostatin protein to slow muscle loss. This has broader implications as multiple biotech companies are testing myostatin-blocking drugs for obesity to counter muscle loss from GLP-1 drugs. Third, Novo Nordisk rebranded to simply "Novo" as part of a consumer-focused marketing strategy, reflecting a shift toward direct-to-consumer sales of obesity drugs rather than positioning them as serious medical treatments requiring insurance coverage.

The primary focus of the episode is the international scientist visa crisis. A federal judge issued a preliminary injunction blocking the Trump administration's plan to impose a four-year cap on student and scholar visas, which would have replaced the existing "duration of status" policy in place for 40+ years. Jonathan Wozen, a STAT reporter, explains that international researchers comprise a huge fraction of the U.S. scientific workforce—approximately 25% of graduate students in life sciences and 60% of postdocs come from other countries. The Trump administration argued the cap was necessary to prevent fraud, but Dr. Fatima Av, executive director of NAFSA (Association of International Educators), argues the policy is flawed because: (1) an existing tracking system (SEVIS) already monitors international students in real-time; (2) there is no evidence of widespread fraud; (3) four years is arbitrarily short when most U.S. PhD programs last seven years or longer; and (4) this would force all international PhD students to apply for extensions with no appeal process for denials.

Beyond the four-year cap, the Trump administration has implemented or attempted multiple other restrictive measures: a travel ban affecting 39 countries, enhanced vetting of social media profiles for visa applicants, visa revocations over minor issues, and a proposed $100,000 fee for H-1B work visas. These policies have created an environment of fear and uncertainty among international students and researchers. The consequences are already visible: page views of U.S. PhD programs in life sciences from international students have dropped 40-50% over the past year, with declines exceeding 85% from Iran. Meanwhile, competing countries like Germany, Canada, and South Korea are actively recruiting U.S.-trained international scientists. Dr. Av reports that enrollment of international STEM PhD students in U.S. institutions has declined by 47,000 for the 2025-2026 academic year. She emphasizes that losing these researchers has cascading economic impacts—one in four unicorn startups were founded by former international students, and international researchers bring in American citizens into research teams. The lawsuit will continue forward, and the government is expected to appeal the preliminary injunction.