Earnings Releases·Nov 13, 2026, 4:08 PM ET

Vistagen — Fiscal Year 2027 Second Quarter Earnings Summary

Total revenue decreased 46% year-over-year to $0.138 million, while net loss narrowed to $10.7 million from $19.4 million, driven by a 58% reduction in R&D expenses to $6.6 million.
Cash and marketable securities declined to $20.0 million from $45.4 million in March 2026; management projects current resources will fund operations into 2027 but not beyond one year from the release date.
FDA provided constructive feedback on fasedienol for Phase 3 social anxiety disorder trials, recommending the LSAS as the primary endpoint, while preliminary PALISADE-4 open-label data showed clinically relevant improvements over four months.
Strategic focus remains on advancing programs for social anxiety and menopausal hot flashes, supported by the appointment of new Board member Douglas J. Williamson, MD, and targeted cost-management initiatives.