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VistaGen Therapeutics
(NASDAQ:VTGN)
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Rating:41Neutral
Price Target:
$0.24
▼(-9.62% Downside)
Action:Reiterated
Date:10/10/26
The score is primarily constrained by weak financial performance (large operating losses and sizable cash burn despite improving revenue and high gross margins) and a weak longer-term technical trend (price well below 100/200-day averages). Corporate events are mixed, with encouraging clinical/strategy updates offset by Nasdaq bid-compliance risk, while valuation metrics provide limited support due to negative earnings and no dividend.
Positive Factors
Revenue growth and gross margin
Sharp revenue growth combined with very high gross margin indicates improving commercialization or collaboration activity and favorable economics on reported sales. If this progress persists, it can provide a stronger base for funding development and scaling future products, although profitability remains unproven.
Negative Factors
Persistent operating losses
Large operating and net losses show that VistaGen’s current activities do not yet support the cost of its business, leaving results dependent on continued investment before potential product approval. Persistent losses can limit strategic flexibility and increase the importance of successful clinical execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and gross margin
Sharp revenue growth combined with very high gross margin indicates improving commercialization or collaboration activity and favorable economics on reported sales. If this progress persists, it can provide a stronger base for funding development and scaling future products, although profitability remains unproven.
Read all positive factors
VistaGen Therapeutics (VTGN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.48M
Dividend YieldN/A
Average Volume (3M)21.08M
Price to Earnings (P/E)―
Beta (1Y)0.72
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees41
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.70
Shares Outstanding44,376,910
10 Day Avg. Volume2,454,515
30 Day Avg. Volume21,081,982
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.61
Price to Sales (P/S)17.15
P/FCF Ratio-0.33
Enterprise Value/Market Cap-2.03
Enterprise Value/Revenue-8.49
Enterprise Value/Gross Profit-10.03
Enterprise Value/Ebitda0.32
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-1.48
Revenue Forecast (FY)$1.69M
VistaGen Therapeutics Business Overview & Revenue Model
Company Description
VistaGen Therapeutics, Inc. is a clinical-stage biopharmaceutical entity dedicated to advancing and commercializing innovative medications for anxiety, depression, and various other disorders impacting the central nervous system (CNS). A key compo...
VistaGen Therapeutics Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Neutral
The call presented a balanced mix of progress and uncertainty. Positive elements include completion of PALISADE-3 randomized portion, PALISADE-4 enrollment on track, active open-label extensions, focused operational improvements, an AI/ML-driven analytic program, USAN adoption of refisolone with an IND planned in H1 2026, and $61.8M in reported cash with cost-control measures. Negative elements center on a higher placebo response in PALISADE-3 that necessitates additional analysis and operational remediation, unresolved efficacy clarity from top-line data, potential SAP modifications that would require FDA resubmission, reliance on exploratory AI/ML methods with no guarantees, and limited disclosure on financial runway timing. Given the roughly balanced number of material positives and material uncertainties, the overall tone is cautiously neutral.Positive Updates
Completion of PALISADE-3 Randomized Portion
The company completed the randomized portion of the PALISADE-3 Phase III trial in social anxiety disorder as guided and is analyzing results to inform PALISADE-4 and broader program strategy.
Negative Updates
Higher Placebo Response in PALISADE-3
Management acknowledged a notably higher placebo response in PALISADE-3 relative to PALISADE-2, which prompted retraining and operational changes and necessitates deeper analysis to understand drivers of the effect.
Read all updates
Q3-2026 Updates
Positive
Negative
Completion of PALISADE-3 Randomized Portion
The company completed the randomized portion of the PALISADE-3 Phase III trial in social anxiety disorder as guided and is analyzing results to inform PALISADE-4 and broader program strategy.
Read all positive updates
Company Guidance
On the FY2026 Q3 call (quarter ended December 31, 2025), management reiterated that the randomized portion of PALISADE‑3 is complete and PALISADE‑4 is ongoing and on track (enrollment continuing as planned after the Dec. 17 announcement), with the SAP already submitted/locked for the study (any changes would require FDA resubmission prior to database lock) and top‑line results to follow after last patient/last visit; open‑label extensions continue (using LSAS and SPIN), AI/ML analyses across PALISADE‑1/2/3 are underway to identify covariates that might inform SAP modifications and regulatory strategy, and PALISADE‑2 plus a successful PALISADE‑4 could support an NDA. Financially, the company reported $61.8 million in cash, cash equivalents and marketable securities as of 12/31/25, 39.7 million shares outstanding (42.0 million weighted‑average for the quarter), has implemented company‑wide cash‑preservation measures to extend runway, and plans a U.S. IND submission for refisolone (PH80) in H1 2026.VistaGen Therapeutics Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.50M | 1.27M | 486.00K | 1.06M | -227.00K | 1.11M |
| Gross Profit | 2.12M | 1.27M | 486.00K | 1.06M | -227.00K | 1.11M |
| EBITDA | -67.30M | -71.39M | -50.78M | -28.79M | -58.74M | -47.05M |
| Net Income | -67.62M | -69.69M | -51.42M | -29.36M | -59.25M | -47.76M |
Balance Sheet | ||||||
| Total Assets | 35.74M | 48.56M | 84.34M | 123.65M | 21.09M | 74.64M |
| Cash, Cash Equivalents and Short-Term Investments | 31.73M | 45.40M | 80.48M | 119.17M | 16.64M | 68.14M |
| Total Debt | 783.00K | 1.04M | 1.51M | 2.12M | 2.71M | 3.04M |
| Total Liabilities | 11.26M | 13.04M | 13.95M | 9.37M | 9.01M | 9.93M |
| Stockholders Equity | 24.48M | 35.52M | 70.39M | 114.29M | 12.08M | 64.72M |
Cash Flow | ||||||
| Free Cash Flow | -62.30M | -66.44M | -42.29M | -25.87M | -49.93M | -45.46M |
| Operating Cash Flow | -62.30M | -66.44M | -42.10M | -25.81M | -49.72M | -45.26M |
| Investing Cash Flow | -89.00K | -877.00K | -13.15M | -61.00K | -740.00K | -200.40K |
| Financing Cash Flow | 30.39M | 30.97M | 3.21M | 128.40M | -1.04M | 10.48M |
VistaGen Therapeutics Technical Analysis
Negative
0.26
Price Trends
0.26
Negative
0.36
Negative
0.48
Negative
Market Momentum
>-0.01
Positive
43.74
Neutral
10.71
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VTGN, the sentiment is Negative. The current price of 0.26 is below the 20-day moving average (MA) of 0.27, above the 50-day MA of 0.26, and below the 200-day MA of 0.48, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.74 is Neutral, neither overbought nor oversold. The STOCH value of 10.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VTGN.
VistaGen Therapeutics Risk Analysis
VistaGen Therapeutics disclosed 84 risk factors in its most recent earnings report. VistaGen Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
VistaGen Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $69.88M | 8.57 | 16.17% | 0.52% | 26.04% | ― | |
54 Neutral | $348.96M | -0.72 | 187.62% | ― | -8.79% | -195.46% | |
53 Neutral | $480.43M | -5.13 | -23.64% | ― | -76.20% | 52.86% | |
52 Neutral | $274.89M | -4.15 | -42.80% | ― | ― | 59.89% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $238.24M | -17.00 | -31.27% | ― | 1.32% | 59.94% | |
41 Neutral | $10.48M | -0.14 | -152.59% | ― | ― | ― |
* Healthcare Sector Average
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VistaGen Therapeutics
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VistaGen Therapeutics Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
VistaGen Therapeutics Updates Executive Severance and Control Plan
Positive
Oct 9, 2026
On October 7, 2026, VistaGen Therapeutics’ board approved an amendment and restatement of its Change in Control Executive Severance Plan, originally adopted on August 11, 2026, with the revised plan becoming effective the same day. The plan ...
Business Operations and StrategyProduct-Related Announcements
VistaGen Updates Strategy for Pherine-Based CNS Therapies
Positive
Sep 25, 2026
On September 25, 2026, VistaGen Therapeutics began using a new corporate presentation that outlines its strategy to harness nose-to-brain neurocircuitry for treating central nervous system and related conditions. The materials highlight a Phase 3-...
Business Operations and Strategy
VistaGen highlights Phase 3 data in severe social anxiety
Positive
Sep 24, 2026
On September 24, 2026, Vistagen reported exploratory clinical findings from data presented at Psych Congress 2026 in New Orleans, highlighting a potential efficacy signal for its Phase 3 fasedienol nasal spray in very severe social anxiety disorde...
Business Operations and StrategyProduct-Related Announcements
VistaGen Reports Positive Long-Term Fasedienol Anxiety Data
Positive
Sep 22, 2026
On September 21, 2026, Vistagen reported preliminary positive data from the open-label extension portion of its PALISADE-4 Phase 3 study evaluating fasedienol nasal spray for adults with social anxiety disorder. In 322 participants using fasedieno...
Executive/Board ChangesShareholder Meetings
VistaGen Stockholders Reaffirm Board, Governance and Oversight
Positive
Sep 11, 2026
On September 10, 2026, VistaGen Therapeutics, Inc. held its 2026 Annual Meeting of Stockholders, where shareholders elected four director nominees to the Board, including Chair Jon S. Saxe, Ann M. Cunningham, Douglas J. Williamson, and CEO Shawn K...
Business Operations and Strategy
VistaGen reports Phase 2 fasedienol trial topline results
Neutral
Aug 6, 2026
On August 6, 2026, Vistagen reported topline data from an exploratory Phase 2 repeat-dose trial of fasedienol nasal spray in adults with social anxiety disorder exposed to a public speaking challenge. The three-arm, randomized, double-blind, place...
Delistings and Listing ChangesRegulatory Filings and Compliance
VistaGen Granted Nasdaq Extension to Regain Bid Compliance
Negative
Aug 5, 2026
On August 4, 2026, Vistagen Therapeutics received a 180-day extension from Nasdaq, giving the company until February 1, 2027 to regain compliance with the exchange’s $1.00 minimum bid price requirement for continued listing of its common sto...
Business Operations and StrategyExecutive/Board Changes
VistaGen Therapeutics Appoints Douglas Williamson to Board
Positive
Jul 31, 2026
On July 29, 2026, Vistagen Therapeutics’ board unanimously appointed Douglas J. Williamson, M.D., to its Board of Directors to serve until the next annual shareholders’ meeting or until a successor is chosen. His appointment was accomp...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.