- After the markets closed on Tuesday, VistaGen Therapeutics Inc (NASDAQ:VTGN) reported a Q3 FY23 net loss of $(9.8) million or $(0.05) per share, narrower than the consensus of $(0.07).
- William Blair estimated an EPS loss of $(0.06).
- VistaGen says that it is not advisable to resume the PALISADE-2 study after failed Phase 3 PALISADE-1 trial of PH94B for the acute treatment of social anxiety disorder (SAD).
- Also Read: Vistagen Strengthens Its Neurology-Focused Pipeline With Pherin Pharma Acquisition.
- The company now plans to meet with the FDA to discuss the path forward for the program.
- A preliminary analysis of data from the PALISADE open-label safety study of acute, as-needed use of PH94B suggests that repeated, as-needed usage may improve symptoms of SAD.
- While it is encouraging to see VistaGen continue developing PH94B in anxiety disorders, the analyst awaits further details on these data before revisiting views on the program.
- William Blair says that given the uncertainty around the path forward for PH94B and extended timelines to potential commercialization, it rates shares Market Perform.
- Price Action: VTGN shares are down 18.75% at $0.2119 on the last check Wednesday.
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