VistaGen Therapeutics (VTGN) AI Stock Analysis

• Market Cap: $29.54M
• Dividend Yield: N/A
• Average Volume (3M): 3.85M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.69
• Revenue Growth: -33.00%
• EPS Growth: 54.91%
• Country: US
• Employees: 48
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.54
• Shares Outstanding: 39,495,453
• 10 Day Avg. Volume: 9,810,429
• 30 Day Avg. Volume: 3,854,187
• PEG Ratio: -0.15
• Price to Book (P/B): 1.09
• Price to Sales (P/S): 157.98
• P/FCF Ratio: -1.82
• Enterprise Value/Market Cap: 1.75
• Enterprise Value/Revenue: 71.57
• Enterprise Value/Gross Profit: 93.48
• Enterprise Value/Ebitda: -0.81
• 1Y Price Target: $0.97
• Price Target Upside: 36.62% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $0.73 ▲(2.11% Upside)

VistaGen Therapeutics' overall stock score is primarily impacted by its challenging financial performance and bearish technical indicators. However, the positive outlook from recent corporate events and progress in clinical trials provides some optimism. The company's strong equity position and strategic leadership changes are potential catalysts for future improvement.

Positive Factors

Leadership Changes

The appointment of a new CFO with over 20 years of experience in financial leadership can enhance strategic growth and financial strategies, potentially improving operational efficiency and shareholder value.

Pipeline Development

A diverse pipeline with multiple candidates in development positions Vistagen to address unmet needs in mental health and women's health, potentially leading to future product launches and revenue streams.

Financial Position

A strong cash position provides financial stability, enabling the company to fund ongoing development programs and strategic initiatives without immediate reliance on external financing.

Negative Factors

Clinical Trial Results

The failure to achieve primary endpoints in a key clinical trial could delay product approval and commercialization, impacting future revenue potential and necessitating strategic reassessment.

Revenue Growth

Volatile revenue growth and a significant drop indicate challenges in achieving consistent financial performance, which could affect long-term sustainability and investor confidence.

Operational Efficiency

Severely negative net profit margins highlight operational inefficiencies, which may hinder the company's ability to achieve profitability and necessitate strategic cost management improvements.

VistaGen Therapeutics Business Overview & Revenue Model

Company Description

VistaGen Therapeutics, Inc., a clinical-stage biopharmaceutical company, engages in developing and commercializing various medicines with the potential to care for anxiety, depression, and other disorders of the central nervous system (CNS). The company's CNS pipeline includes PH94B, a rapid-onset neuroactive nasal spray, which is in Phase III development for the acute treatment of anxiety in adults with social anxiety disorder. Its PH94B product candidature also has potential to treat a range of anxiety disorders, including adjustment disorder with anxiety, postpartum anxiety, post-traumatic stress disorder, preprocedural anxiety, and panic disorders. The company's CNS pipeline also comprises PH10, a rapid-onset neuroactive nasal spray, which is in preparation for Phase 2B clinical development as a stand-alone treatment for major depressive disorder (MDD); and AV-101, an oral N-methyl-D-aspartate receptor antagonist, which is in development in combination with oral probenecid as a potential treatment of levodopa-induced dyskinesia, MDD, neuropathic pain, and suicidal ideation. It has contract research and development agreement with Cato Research Ltd.; license agreement with Pherin Pharmaceuticals, Inc.; and license and collaboration agreement with EverInsight Therapeutics Inc. VistaGen Therapeutics, Inc. was founded in 1998 and is headquartered in South San Francisco, California.

How the Company Makes Money

VistaGen Therapeutics primarily generates revenue through strategic partnerships, collaborations, and potential licensing agreements with larger pharmaceutical companies. These partnerships often involve shared development costs and milestone payments tied to clinical progress and regulatory approvals. Additionally, the company may receive royalties from the commercialization of successful products. As a clinical-stage entity, VistaGen does not yet have significant commercial revenues but relies on funding from equity offerings and grants to support its research and development activities until its products reach the market.

VistaGen Therapeutics Financial Statement Overview

Summary

VistaGen Therapeutics faces significant challenges with consistent losses and negative cash flow. However, a strong equity position and manageable debt levels provide some stability. While the revenue growth shows potential, the company must focus on improving operational efficiency and profitability to ensure long-term success.

Income Statement

The company's revenue growth has been volatile, with a significant drop this year compared to the previous year. Gross profit margin remains stable due to the low cost structure, but the net profit margin is severely negative. The EBIT and EBITDA margins are also deeply negative, indicating operational inefficiency. Despite these challenges, there is a slight increase in revenue compared to the previous year, showing potential for future growth.

Balance Sheet

VistaGen Therapeutics has a relatively low debt-to-equity ratio, indicating a conservative capital structure. However, the return on equity is negative, impacted by consistent net losses. The equity ratio is strong, suggesting financial stability and a solid foundation for future growth. Despite these strengths, the company needs to improve profitability to leverage its equity effectively.

Cash Flow

The company's free cash flow is negative but shows improvement from the previous year, suggesting progress towards better cash management. Operating cash flow remains negative, but the ratio to net income indicates that cash losses are less severe than income losses. Continued focus on reducing cash burn is crucial for future financial health.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	721.00K	486.00K	1.06M	-227.00K	1.11M	1.09M
Gross Profit	552.00K	486.00K	1.06M	-227.00K	1.11M	1.09M
EBITDA	-63.45M	-55.34M	-32.45M	-58.74M	-47.05M	-17.44M
Net Income	-62.24M	-51.42M	-29.36M	-59.25M	-47.76M	-17.93M
Balance Sheet
Total Assets	80.93M	84.34M	123.65M	21.09M	74.64M	108.28M
Cash, Cash Equivalents and Short-Term Investments	77.17M	80.48M	119.17M	16.64M	68.14M	103.11M
Total Debt	1.86M	1.51M	2.12M	2.71M	3.04M	3.72M
Total Liabilities	14.59M	13.95M	9.37M	9.01M	9.93M	16.30M
Stockholders Equity	66.34M	70.39M	114.29M	12.08M	64.72M	91.98M
Cash Flow
Free Cash Flow	-53.09M	-42.29M	-25.87M	-49.93M	-45.46M	-12.35M
Operating Cash Flow	-52.95M	-42.10M	-25.81M	-49.72M	-45.26M	-12.07M
Investing Cash Flow	-777.00K	-13.15M	-61.00K	-740.00K	-200.40K	-275.40K
Financing Cash Flow	32.26M	3.21M	128.40M	-1.04M	10.48M	114.10M

VistaGen Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.71
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VTGN, the sentiment is Negative. The current price of 0.71 is below the 20-day moving average (MA) of 3.43, below the 50-day MA of 3.86, and below the 200-day MA of 3.00, indicating a bearish trend. The MACD of -0.85 indicates Positive momentum. The RSI at 22.72 is Positive, neither overbought nor oversold. The STOCH value of 1.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VTGN.

VistaGen Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OVID	52 Neutral	$127.47M	-3.54	-60.06%	―	946.61%	-11.30%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SPRO	48 Neutral	$133.52M	-2.93	-95.29%	―	-67.38%	-1076.54%
VTGN	46 Neutral	$29.54M	-0.45	―	―	-33.00%	54.91%
IKT	46 Neutral	$201.30M	-2.79	-131.71%	―	-100.00%	79.01%
SRZN	43 Neutral	$197.14M	-1.05	―	―	-63.96%	-28.50%
MGNX	41 Neutral	$100.58M	-1.33	-81.13%	―	-9.70%	23.23%

VistaGen Therapeutics Corporate Events

VistaGen Therapeutics Appoints New CFO Nick B. Tressler

On December 1, 2025, Vistagen appointed Nick B. Tressler as Chief Financial Officer and Treasurer, succeeding Shawn K. Singh in his interim role. Tressler, with over 20 years of experience in financial leadership within the life sciences industry, is expected to contribute significantly to Vistagen’s strategic growth and transformation. His appointment comes with a comprehensive compensation package, including stock options, reflecting the company’s commitment to advancing its financial strategies and enhancing shareholder value.

VistaGen Completes Patient Phase in Key Clinical Trial

On November 3, 2025, Vistagen Therapeutics announced the completion of the patient participation phase in the PALISADE-3 Phase 3 clinical trial for fasedienol, aimed at treating social anxiety disorder. This milestone is significant as it brings the company closer to potentially offering the first acute treatment for social anxiety disorder, affecting over 30 million individuals in the U.S. The results from this trial, along with the ongoing PALISADE-4 trial, could support a New Drug Application submission to the FDA, marking a pivotal step in Vistagen’s efforts to address this prevalent mental health condition.

VistaGen Therapeutics Appoints Paul R. Edick to Board

On October 27, 2025, Vistagen Therapeutics appointed Paul R. Edick to its Board of Directors, where he will also serve on the Audit and Compensation Committees. Mr. Edick, with his extensive industry experience, is expected to contribute significantly to Vistagen’s strategic growth and governance as the company advances its innovative solutions for mental health. His appointment comes at a pivotal moment for Vistagen, as they prepare for their next phase of strategic growth, following the retirement of Dr. Jerry Gin from the Board.