--- title: "Vistagen Therapeutics (VTGN) news: class action and going concern" url: "https://aibio.space/companies/vistagen-therapeutics/" publisher: "aibio.space (Biotech Investor Relations News)" summary: "VTGN class action, going concern and Nasdaq notice news: Vistagen faces securities class action and two derivative suits over PALISADE-3 trial statements." --- VTGN Vistagen Therapeutics, Inc. NASDAQ · United States # Vistagen Therapeutics (VTGN) news VTGN class action, going concern and Nasdaq notice news Legal · 2026-08-14 ## [Vistagen faces securities class action and two derivative suits over PALISADE-3 trial statements](https://aibio.space/news/vistagen-faces-securities-class-action-two-derivative-suits-palisade-3/) A Northern District of California class action names Vistagen, CEO Shawn Singh and COO Joshua Prince. Two derivative suits are stayed behind it, and a separate pro se case was dismissed with prejudice on August 12. ## Latest Vistagen Therapeutics news 1. 2026-08-05 Listings [Vistagen gets 180-day Nasdaq extension, until February 1, 2027, on minimum bid price rule](https://aibio.space/news/vistagen-gets-180-day-nasdaq-extension-until-february-1-2027-minimum/) Nasdaq gave Vistagen until February 1, 2027 to restore a $1.00 minimum bid, while its 10-K says its lead Phase 3 study missed the primary endpoint. It used $42.1 million in operations in its last fiscal year. 2. 2026-02-06 Listings [Vistagen gets Nasdaq minimum bid price deficiency notice, with until August 3, 2026 to comply](https://aibio.space/news/vistagen-gets-nasdaq-minimum-bid-price-deficiency-notice-until-august/) Nasdaq told Vistagen on Feb 3, 2026, that its stock had closed below $1.00 for 30 consecutive business days. The company has until Aug 3, 2026, to regain compliance, and its last annual report carried a going-concern warning. ## Vistagen Therapeutics at a glance - **Ticker**: VTGN - **Listing**: NASDAQ - **Country**: United States - **Cash, Jun 30, 2026**: $31.7 million ### Related companies - [Palvella Therapeutics](https://aibio.space/companies/palvella-therapeutics/) NASDAQ: PVLA - [Anavex Life Sciences](https://aibio.space/companies/anavex-life-sciences/) NASDAQ: AVXL - [Revelation Biosciences](https://aibio.space/companies/revelation-biosciences/) NASDAQ: REVB - [Seres Therapeutics](https://aibio.space/companies/seres-therapeutics/) NASDAQ: MCRB - [NANOLOGIX INC](https://aibio.space/companies/nanologix/) OTC: NNLX - [Calithera Biosciences](https://aibio.space/companies/calithera-biosciences/) OTC: CALA - [C4 Therapeutics](https://aibio.space/companies/c4-therapeutics/) NASDAQ: CCCC - [Whitehawk Therapeutics](https://aibio.space/companies/whitehawk-therapeutics/) NASDAQ: WHWK ### Also on NASDAQ - [Lexeo Therapeutics](https://aibio.space/companies/lexeo-therapeutics/) LXEO - [TransMedics Group](https://aibio.space/companies/transmedics/) TMDX - [Vericel](https://aibio.space/companies/vericel/) VCEL - [Scinai Immunotherapeutics](https://aibio.space/companies/scinai-immunotherapeutics/) SCNI - [REGENXBIO](https://aibio.space/companies/regenxbio/) RGNX - [Aprea Therapeutics](https://aibio.space/companies/aprea-therapeutics/) APRE ## What Vistagen Therapeutics does Vistagen Therapeutics, Inc. is a late clinical-stage therapeutics company developing and potentially commercializing medicines for social anxiety disorder, depression, menopausal hot flashes, psychomotor impairment due to mental fatigue and cancer cachexia. Its neuroscience pipeline consists of five clinical-stage intranasal pherine product candidates, each designed to bind peripheral receptors in human nasal chemosensory neurons and activate neurocircuits without requiring systemic absorption or uptake into the brain. The most advanced candidate, fasedienol, is in a U.S. Phase 3 PALISADE program for the acute treatment of social anxiety disorder and has fast track designation from the FDA for that indication. Neither PALISADE-1 nor PALISADE-3 achieved its primary endpoint in the randomized phase, while PALISADE-2 achieved its primary efficacy endpoint in August 2023. Topline results from the randomized portion of PALISADE-4 are expected in the second quarter of calendar 2026. The other candidates are itruvone for major depressive disorder, refisolone for moderate to severe vasomotor symptoms due to menopause, PH15 for psychomotor impairment due to mental fatigue, and PH284 for cancer cachexia. | Product or program | What it is | Stage | |---|---|---| | Fasedienol | Intranasal pherine for acute treatment of social anxiety disorder | U.S. Phase 3 | | Itruvone | Intranasal pherine for major depressive disorder | | | Refisolone | Intranasal pherine for moderate to severe menopausal hot flashes | | | PH15 | Intranasal pherine for psychomotor impairment due to mental fatigue | | | PH284 | Intranasal pherine for cancer cachexia | | Summarised from the company's [10-K filed Jun 15, 2026](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/vtgn-20260331.htm). ## Vistagen Therapeutics annual financials | Line | FY ended Mar 31, 2026 | FY ended Mar 31, 2025 | |---|---|---| | Research and development | [$55.0 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/) | [$39.4 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/) | | Net income (loss) | [-$69.7 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/) | [-$51.4 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/) | | Cash from operations | [-$66.4 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/) | [-$42.1 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/) | | Cash and equivalents | [$30.8 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026057116/) | [$67.1 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/) | | Short-term investments | [$14.6 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026057116/) | [$13.4 million](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/) | Latest balance sheet, Jun 30, 2026 (10-Q): cash and equivalents $17.0 million, plus short-term investments of $14.7 million, $31.7 million in all. Figures as reported to the SEC in XBRL; each one links to its filing. Not adjusted, not investment advice. ## Questions about Vistagen Therapeutics Is there a class action against Vistagen Therapeutics? Our latest story on this, dated Aug 14, 2026: "Vistagen faces securities class action and two derivative suits over PALISADE-3 trial statements". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/vistagen-faces-securities-class-action-two-derivative-suits-palisade-3/). Has Vistagen Therapeutics issued a going-concern warning? Our latest story on this, dated Feb 6, 2026: "Vistagen gets Nasdaq minimum bid price deficiency notice, with until August 3, 2026 to comply". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/vistagen-gets-nasdaq-minimum-bid-price-deficiency-notice-until-august/). Has Vistagen Therapeutics received a Nasdaq deficiency notice? Our latest story on this, dated Feb 6, 2026: "Vistagen gets Nasdaq minimum bid price deficiency notice, with until August 3, 2026 to comply". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/vistagen-gets-nasdaq-minimum-bid-price-deficiency-notice-until-august/). What is the ticker symbol of Vistagen Therapeutics? Vistagen Therapeutics, Inc. trades under the ticker VTGN on NASDAQ. Where is Vistagen Therapeutics listed? Vistagen Therapeutics, Inc. is listed on NASDAQ. What is the SEC CIK of Vistagen Therapeutics? The SEC Central Index Key (CIK) for Vistagen Therapeutics, Inc. is 1411685. Its filings are on SEC EDGAR. How many shares does Vistagen Therapeutics have outstanding? 44,376,911 shares as of 2026-08-10, per the cover page of its 10-Q filed 2026-08-14. Which country or territory is Vistagen Therapeutics listed under? Our directory records Vistagen Therapeutics, Inc. under United States. What does Vistagen Therapeutics do? Our directory classifies Vistagen Therapeutics, Inc. as: Biotechnology. This is a directory classification, not a description of the pipeline. What is the ISIN of Vistagen Therapeutics? The ISIN recorded for Vistagen Therapeutics, Inc. is US92840H4002. Does aibio.space cover Vistagen Therapeutics? aibio.space lists Vistagen Therapeutics, Inc. among 2,820 public biotech companies and publishes its news here as stories appear. Where is Vistagen Therapeutics incorporated? SEC records list its state or country of incorporation as NV. What does Vistagen Therapeutics develop? Vistagen Therapeutics, Inc. is a late clinical-stage therapeutics company developing and potentially commercializing medicines for social anxiety disorder, depression, menopausal hot flashes, psychomotor impairment due to mental fatigue and cancer cachexia. Its neuroscience pipeline consists of five clinical-stage intranasal pherine product candidates, each designed to bind peripheral receptors in human nasal chemosensory neurons and activate neurocircuits without requiring systemic absorption or uptake into the brain. What is Fasedienol from Vistagen Therapeutics? Fasedienol: Intranasal pherine for acute treatment of social anxiety disorder Stage: U.S. Phase 3. What is Itruvone from Vistagen Therapeutics? Itruvone: Intranasal pherine for major depressive disorder ## Investor discussion: Vistagen Therapeutics Members talk about Vistagen Therapeutics (VTGN). Reader posts, not aibio.space reporting, and not investment advice. Rules 1. **Securities violations are strictly forbidden.** No market manipulation, no pump-and-dump, no false or misleading statements, and no inside information. 2. **Say whether you hold the stock.** Every post states long, short or no position. 3. **No paid or sponsored posts.** Do not post for anyone who pays or rewards you. 4. **No buy or sell calls and no price targets.** 5. **No accusations of crime or fraud against named people** unless you link a court filing or a regulator's release that makes them. 6. **No personal details and no spam.** No links at all for your first 7 days as a member. Posts that break the rules may be deleted without notice, and the account restricted or closed. See the [terms](https://aibio.space/terms/#discussion) and the [privacy policy](https://aibio.space/privacy/#discussion). ## Capital-markets timeline Financings, listing notices, splits, legal actions and other investor events at Vistagen Therapeutics, newest first. Each line links the filing it comes from. 1. 2026-10-30 Distress Reported a restructuring, a workforce reduction or a review of strategic alternatives. SEC Form 8-K (Items 2.05,8.01). [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828026068627/vtgn-20261026.htm) 2. 2026-08-05 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828026053304/vtgn-20260804.htm) 3. 2026-06-15 Legal Disclosed a shareholder lawsuit, subpoena or other legal matter. SEC Form 10-K. [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828026043271/vtgn-20260331.htm) 4. 2026-05-19 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 5.02,7.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828026036492/vtgn8-kex99120260519.htm) 5. 2026-04-02 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828026023176/vtgn-20260401.htm) 6. 2026-03-11 Distress Reported a restructuring, a workforce reduction or a review of strategic alternatives. SEC Form 8-K (Items 8.01). [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828026016652/vtgn-20260305.htm) 7. 2026-02-12 Legal Disclosed a shareholder lawsuit, subpoena or other legal matter. SEC Form 10-Q. [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828026007718/vtgn-20251231.htm) 8. 2026-02-06 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828026006078/vtgn-20260203.htm) 9. 2025-12-03 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 5.02,7.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828025055083/vtgn8-k11282025ex991.htm) 10. 2025-11-13 Distress Reported substantial doubt about its ability to continue as a going concern. SEC Form 10-Q. [Source](https://www.sec.gov/Archives/edgar/data/1411685/000162828025052079/vtgn-20250930.htm) 11. 2025-06-17 Distress Reported substantial doubt about its ability to continue as a going concern. SEC Form 10-K. [Source](https://www.sec.gov/Archives/edgar/data/1411685/000141168525000041/vtgn-20250331.htm) 12. 2025-06-17 Financings Set up an at-the-market program to sell shares over time. SEC Form 424B5. [Source](https://www.sec.gov/Archives/edgar/data/1411685/000141168525000044/vtgn424b52025_06x17.htm) ## Stock chart Price chart and quote supplied by TradingView, delayed as the exchange requires. It loads only if you choose to show it. Information only, not investment advice. [Open NASDAQ:VTGN on TradingView](https://www.tradingview.com/symbols/NASDAQ-VTGN/). ## SEC filings and registration - **SEC name**: Vistagen Therapeutics, Inc. - **CIK**: 1411685 - **Industry (SIC)**: Pharmaceutical Preparations (2834) - **US tickers**: VTGN (Nasdaq) - **State or country of incorporation**: NV - **Fiscal year ends**: March 31 - **Filer category**: Non-accelerated filer
Smaller reporting company - **Business address**: 343 ALLERTON AVENUE, SOUTH SAN FRANCISCO, CA, 94080 - **Phone**: 650-577-3600 - **Shares outstanding**: 44,376,911 as of 2026-08-10 (10-Q filed 2026-08-14) - **Former names**: Excaliber Enterprises, Ltd. ### Recent filings (8-K and 6-K are the company's own announcements) - [8-K](https://www.sec.gov/Archives/edgar/data/1411685/000162828026065559/vtgn-20261007.htm) filed 2026-10-09 - [8-K](https://www.sec.gov/Archives/edgar/data/1411685/000162828026063510/vtgn-20260925.htm) filed 2026-09-25 - [8-K](https://www.sec.gov/Archives/edgar/data/1411685/000162828026063316/vtgn-20260924.htm) filed 2026-09-24 - [8-K](https://www.sec.gov/Archives/edgar/data/1411685/000162828026063046/vtgn-20260922.htm) filed 2026-09-22 - [8-K](https://www.sec.gov/Archives/edgar/data/1411685/000162828026061445/vtgn-20260910.htm) filed 2026-09-11 - [10-Q](https://www.sec.gov/Archives/edgar/data/1411685/000162828026057116/vtgn-20260630.htm) filed 2026-08-14 - [8-K](https://www.sec.gov/Archives/edgar/data/1411685/000162828026056953/vtgn-20260814.htm) filed 2026-08-14 - [8-K](https://www.sec.gov/Archives/edgar/data/1411685/000162828026054341/vtgn-20260806.htm) filed 2026-08-06 Source: [SEC EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001411685), retrieved October 23, 2026. Shares outstanding is the cover-page figure from the latest periodic report. The SEC does not publish share prices. ## Listing details Vistagen Therapeutics, Inc. is a public biotech or pharmaceutical company listed on NASDAQ under the ticker VTGN, recorded under United States. The directory classifies it as Biotechnology. aibio.space tracks 2,820 public biotech companies worldwide and publishes investor news on them. - **Company**: Vistagen Therapeutics, Inc. - **Ticker**: VTGN - **Listing**: NASDAQ - **Country or territory**: United States - **Business scope**: Biotechnology - **ISIN**: US92840H4002 - **Last quote in directory**: 2026-10-21 - **Directory source**: [Listing page](https://www.tradingview.com/symbols/NASDAQ-VTGN/) Listing facts come from our company directory, researched on October 22, 2026. A listing record does not certify that a security currently trades. [Tell us about a change](https://aibio.space/reputation/#update). Work at this company? [Claim this page](https://aibio.space/claim/). Published and maintained by aibio.space. Not investment advice. [How we work](https://aibio.space/disclosures/). Who manages this page **This page is managed by aibio.space.** The company does not run, edit or pay for this page. News, desk views and Investor Ranks are written and managed independently by aibio.space under our editorial and analytical judgment. Opinion only, not investment advice. [How we work](https://aibio.space/disclosures/#paid) · [Terms](https://aibio.space/terms/#news) · [Request a correction](https://aibio.space/reputation/#update) --- Source page: https://aibio.space/companies/vistagen-therapeutics/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Vistagen Therapeutics (VTGN) news: class action and going concern", 2026-10-31, https://aibio.space/companies/vistagen-therapeutics/