Vistagen Therapeutics (NASDAQ: VTGN), a late clinical-stage biopharmaceutical company pioneering neuroscience to deliver first-in-class therapies for psychiatric and neurological disorders, is reporting its Q3 2024 financial numbers as well as providing an update on the company. Notable numbers from the report include research and development expenses reaching $4.5 million and $6.9 million for the three months ended Dec. 31, 2023 and 2022, respectively; general and administrative expenses for the 2023 quarter totaled $3.8 million, up from $3.1 million in 2022; and net loss reached $6.3 million for 2023, down from $9.8 million 2022. The company also reported cash and cash equivalents of some $126.6 million, with 27,029,731 shares of common stock issued and 3,577,240 prefunded warrants outstanding as of Feb. 12, 2024. The report noted that VTGN’s fasedienol PALISADE phase 3 programs for the acute treatment of social anxiety disorder (“SAD”) remains on track and the company is planning on starting a PALISADE-3 trial and PALISADE-4 trial in 2024.
“Momentum from clinical and corporate milestones achieved through the end of last quarter have significantly advanced our efforts to develop and commercialize fasedienol as a potential first-in-class acute treatment for adults with social anxiety disorder,” said Vistagen Therapeutics CEO Shawn Singh in the press release. “Building on the positive results of our PALISADE-2 phase 3 trial in SAD, we remain on track to initiate our PALISADE-3 phase 3 trial in SAD during the first half of this year. In parallel, we continue to make significant progress toward phase 2B development of two additional clinical-stage neuroscience assets in our pipeline, itruvone for major depressive disorder and hormone-free PH80 for women’s health indications, including vasomotor symptoms (hot flashes) due to menopause.”
To view the full press release, visit https://ibn.fm/1wRLt
About Vistagen Therapeutics Inc.
Vistagen is a late clinical-stage biopharmaceutical company pioneering neuroscience to deliver first-in-class therapies for psychiatric and neurological disorders. Five of Vistagen’s six clinical-stage product candidates belong to a new class of drugs known as pherines, which have the potential to rapidly deliver meaningful efficacy with a differentiated safety profile. Pherines are investigational neuroactive nasal sprays with innovative proposed mechanisms of action that activate chemosensory neurons in the nasal passages to impact fundamental neural circuits in the brain without the need for systemic absorption or binding to receptors in the brain. Vistagen’s sixth clinical-stage product candidate, AV-101, is an investigational oral drug candidate with the potential to inhibit but not block NMDA receptor activity. Vistagen is passionate about transforming what is possible in the treatment of anxiety, depression and other neuroscience disorders For more information about the company, please visit www.Vistagen.com.
NOTE TO INVESTORS: The latest news and updates relating to VTGN are available in the company’s newsroom at https://ibn.fm/VTGN
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
Editor@InvestorWire.com
InvestorWire is powered by IBN
