Vistagen Therapeutics, Inc. (VTGN) is a leading clinical-stage biotherapeutics company engaged in the development and commercialization of innovative medicines to treat anxiety, depression, and other central nervous system disorders. One of the leading drug candidates of the company is PH94B which is a Phase 3 neuroactive nasal spray for treating social anxiety disorder. PH94B can treat postpartum anxiety, PTSD, preprocedural anxiety, and other forms of anxiety. PS10 is in Phase 2 trials to treat the major depressive disorder. AV-101 is used for treating suicidal ideation and neuropathic pain.
The price of VTGN therapeutics during the regular trading on January 7, 2022, with a decline of 3.30% was $1.76. At last check in the aftermarket, the stock surges by 9.66%.
VTGN: Events and Happenings
On November 16, 2021, VTGN reported that the company’s Executives presented at the Jefferies Virtual London Healthcare Conference held on November 18, 2021.
VTGN: Key Financials
On November 10, 2021, VTGN reported its financial results for the fiscal year 2022 second quarter ended September 30, 2021. Some of the key updates are as follows
Total Current Assets
Total current assets of the company for Q2 2022 were $96.4 million as compared to the same period prior year when the assets were $15.9 million.
Total revenue for Q2 2022 was $0.35 million as compared to the same period of the previous year when the revenue was $0.33 million.
Net Loss per Share
Basic and diluted net loss per share for Q2 2022 was $12.7 million or $0.07 per share as compared to Q2 2021 when it was $3.2 million or $0.05 per share.
On October 14, 2021, VTGN reported that it initiated a Phase 2A clinical trial for assessing the safety, efficacy and toleration level of PH94B for treating Adjustment Disorder with anxiety. The company was also engaged in Phase 3 clinical trials of PALISADE for PH94B to treat SAD. On October 05, 2021, VTGN reported the data from a preclinical study for tissue distribution in rats indicated that a single dose of radiolabeled carbon-14 PH94B was almost restricted to the narrow nasal passage and negligible signs were present in other tissues, including brain and CNS.
On September 13, 2021, VTGN reported that it initiated the second Phase 3 clinical study to assess the potential of PH94B for treating SAD under PALISADE-2 studies. On September 08, 2021, VTGN reported that the company’s Executives presented at Baird’s 2021 Global Healthcare Conference, on September 14, 2021.
VTGN stock fell 43% as compared to the last six months primarily due to the decelerating down of the economy because of the pandemic. The current significant aftermarket incline is the result of an uncertain market environment benefitting the stock price positively. The analysts are optimistic that the company’s stock will regain its lost momentum and will be on track at a fast pace to attract investment sources.