Vistagen (NASDAQ: VTGN) is a late clinical-stage biopharmaceutical company aiming to transform the treatment landscape for individuals living with anxiety, depression and other central nervous system (“CNS”) disorders. The company today announced that it will implement a stockholder-approved reverse stock split of its outstanding shares of common stock, at a ratio of one-for-thirty, as unanimously approved by its board of directors. The primary corporate and strategic objectives for implementing the reverse split include: to re-establish compliance with Nasdaq’s minimum bid price requirement, increase awareness of the company and the therapeutic potential of its six clinical-stage drug candidates, as well as to broaden the company’s market base. Vistagen’s common stock will begin trading on a split-adjusted basis at the opening of trading on Wednesday, June 7, 2023, on the Nasdaq Capital Market. The company’s shares will continue to trade under the symbol VTGN with a new CUSIP number of 92840H400.
To view the full press release, visit https://ibn.fm/tYB9D
About VistaGen Therapeutics Inc.
Vistagen is a late clinical-stage biopharmaceutical company aiming to transform the treatment landscape for individuals living with anxiety, depression and other CNS disorders. The company is advancing therapeutics with the potential to be faster-acting and with fewer side effects and safety concerns than those that are currently available for treatment of anxiety, depression and multiple CNS disorders. Vistagen’s pipeline includes six clinical-stage product candidates, including five investigational agents belonging to a new class of drugs known as pherines, in addition to AV-101, an oral prodrug of 7-Cl-CYNA, which is a full antagonist of the glycine site of the N-methyl-D-aspartate receptor (“NMDAR”), inhibiting activity of the ion channel of the NMDAR but not blocking it. Pherines, which are administered as nasal sprays, are designed with an innovative rapid-onset mechanism of action that activates chemosensory neurons in the nasal passages and can selectively and beneficially impact key neural circuits in the brain without requiring systemic uptake or direct activity on CNS neurons. Vistagen is passionate about transforming mental health care and redefining what is possible in the treatment of anxiety, depression and several other CNS disorders. For more information, visit the company’s website at 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
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