VTGN
Vistagen Therapeutics, Inc.4.3600
-0.0300-0.68%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Placebo fixes, SAP tweaks detailed
Q&A unpacked PALISADE-3's higher placebo response, driving PALISADE-4 tweaks like site retraining, no-chatting protocols, and tighter recruitment—nuances beyond prepared remarks. Potential AI/ML-derived SAP changes across PALISADE studies would need FDA resubmission pre-database lock, without altering enrollment targets. Enrollment proceeds apace, unfazed by the miss announcement. Regulatory strategy rests on totality of evidence, even sans PALISADE-4 success. Cash corrected to $61.8M. Execution feels tighter. Investors watch PALISADE-4 topline.
Key Stats
Market Cap
172.20MP/E (TTM)
-Basic EPS (TTM)
-1.92Dividend Yield
0%Recent Filings
10-Q
Q3 FY2026 results
Vistagen narrowed its Q3 FY2026 operating loss to $19.5M from $15.1M y/y, driven by R&D ramp to $14.2M (up 26%, fasedienol program $10.4M) while G&A rose 39% to $5.6M; nine-month net loss widened to $53.4M from $37.8M y/y on $41.9M R&D (derived 44% y/y increase). Revenues ticked up to $0.3M from $0.2M y/y via AffaMed deal recognition. Cash burned $50.2M in operations (FCF not disclosed); $47.4M cash plus $14.4M marketable securities fund ongoing trials, offset by $0.4M note payable. Cash burn slowed post-PALISADE-3 miss. Nasdaq bid price below $1.00 risks delisting by August 2026.
8-K
Q3 loss widens; PALISADE-4 advances
Vistagen reported fiscal Q3 2026 net loss of $18.9M, up from $14.1M year-ago, with R&D expenses climbing to $14.2M from $11.3M amid PALISADE-4 Phase 3 advancements for fasedienol in social anxiety. Cash stands at $61.8M. Topline data expected H1 2026. PALISADE-3 missed primary endpoint, yet safety held firm.
8-K
Nasdaq bid price deficiency notice
Vistagen Therapeutics received a Nasdaq notice on February 3, 2026, for failing to maintain a $1.00 minimum bid price over 30 consecutive business days, violating Listing Rule 5550(a)(2). The stock remains listed, with 180 days until August 3 to hit $1.00 for 10 straight days. No delisting yet. Compliance isn't assured.
8-K
New pherine deck; mixed Ph3 data
Vistagen Therapeutics rolled out a new corporate presentation on January 9, 2026, spotlighting its pherine pipeline. PALISADE-2 met its primary endpoint with fasedienol reducing SUDS scores 5.8 points more than placebo (p=0.015), yet PALISADE-1 and -3 missed due to variable placebo responses. PALISADE-4 presses on. Mixed Phase 3 signals test investor patience.
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