VistaGen Therapeutics (VTGN)
Develops intranasal pherine candidates for psychiatric, women's-health, and cancer-supportive-care conditions.
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Develops intranasal pherine candidates for psychiatric, women's-health, and cancer-supportive-care indications, while present revenue comes from sublicense and other arrangements. It sponsors development, relying on external trial and manufacturing providers and regional partners; it has no approved or marketed products.
Develops intranasal pherine candidates designed to modulate neural circuits without systemic drug exposure. Its named programs include fasedienol for social anxiety disorder, itruvone for major depressive disorder, refisolone for menopausal vasomotor symptoms, PH15 for mental-fatigue-related psychomotor impairment, and PH284 for cancer cachexia. AV-101 is held principally for partnering.
Operates from South San Francisco, with clinical and regulatory activity predominantly directed at the United States. It sponsors development while CROs run trials and CDMOs handle all manufacturing; fasedienol is licensed to AffaMed across parts of Asia while rights elsewhere are retained. There are no approved or marketed products, and revenue comes from sublicense and other arrangements. Further progress depends on controlled clinical evidence, regulatory agreement, financing, third-party execution, and partners.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Dec 17, 2025 | Jefferies | Downgrade | Buy | Hold | $0.20 | $0.90 |
| Dec 17, 2025 | Stifel Nicolaus | Target | $12 | $1 | ||
| Dec 17, 2025 | Maxim Group | Downgrade | Buy | Hold | ||
| Dec 17, 2025 | William Blair | Downgrade | Outperform | Market Perform | ||
| Nov 17, 2025 | Stifel Nicolaus | Target | $12 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $31.7M · Total debt $783.0K · Total assets $35.7M · Shareholders' equity $24.5M
- Revenue
- $1.5M
- Operating income
- −$13.3M
- Net income
- −$13.0M
No dividends on record.
| Institutions61 holders · as of Mar 31, 2026 | 33.20% | 14.73M shares | |
| Insiders5 holders · as of Jul 2, 2026 | 0.35% | 155.5K shares | |
| Strategic holders1 holder · as of Feb 17, 2026 | 9.88% | 4.38M shares | |
| Otherremainder | 56.57% | 25.11M shares |
44.38M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Commodore Capital LP1,2Strategic10 percent owner | 9.88% | 4.38M | 13Gfiled Feb 17, 2026 ↗ |
Orbimed Advisors LLCInstitution | 6.90% | 3.06M | 13Fas of Mar 31, 2026 |
TCG Crossover Management, LLCInstitution | 6.03% | 2.68M | 13Fas of Mar 31, 2026 |
Vanguard Capital Management LLCInstitution | 3.55% | 1.57M | 13Fas of Mar 31, 2026 |
Adar1 Capital Management, LLCInstitution | 1.69% | 751,141 | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
- Commodore Capital LP's transaction reports restate only vehicles that traded; the 2026 ownership statement (4.38M) is used instead.
- Commodore Capital LP reports a block also reported by Vanguard Capital Management LLC; it is counted once, under Vanguard Capital Management LLC.
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
No open-market trades in the last 12 months.
- Vanda Pharmaceuticals
Late-stage, on-demand social-anxiety program challenging fasedienol.
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- Johnson & Johnson
Marketed Caplyta competes for adjunctive MDD treatment.
- Tonix Pharmaceuticals
Early intranasal oxytocin research overlaps in social anxiety.
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| VistaGen Therapeutics | $0.2583 | +3.99% | $10.9M | — | — | 4.4 | +504.9% |
| Vanda Pharmaceuticals | $5.60 | +1.36% | $332.5M | — | — | 1.5 | −3.9% |
| Axsome Therapeutics | $212.18 | +1.08% | $10.80B | — | 1,800.7 | 13.9 | +44.2% |
| Johnson & Johnson | $275.30 | +0.02% | $663.23B | 31.9 | 23.1 | 6.8 | +6.6% |
| Tonix Pharmaceuticals | $13.65 | +2.02% | $213.3M | — | — | 7.3 | +577.9% |
| Median | 31.9 | 911.9 | 7.1 | +25.4% |