Maxim bullish on Vistagen amid time-limited partnership with Fuji Pharma

Maxim analyst Jason McCarthy notes that Vistagen announced its entrance into a time-limited partnership with Fuji Pharma to develop the company’s PH80 nasal spray therapy for menopausal hot flash in Japan. The firm also notes recent activity in the menopausal hot flash space with the approval of a nonhormonal drug called fezolinetant in May 2023. The drug works by blocking NK3 receptors in the brain to regulate body temperature. Other existing options include the SSRI paroxetine, hormonal therapies, anticonvulsants, all of which have been around for more than a decade and are linked to various undesirable side effects. PH80 presents an alternative in the form of a nasal spray, Maxim highlights. The firm also points out that Japan is a particularly attractive market as it is among the most aged populations. In addition to Vistagen, Maxim notes another company within its coverage universe also focusing on developing a VMS treatment is Dare Bioscience (DARE) with its Phase 3 ready asset, DARE-HRT1, monthly hormonal intravaginal ring therapy. The firm has a Buy rating on Vistagen’s shares with a price target of $30.