Vistagen tumbles as social anxiety drug misses main goal in late-stage trial

Vistagen Therapeutics

30/06/2026 13:42

** Shares of Vistagen VTGN.O slump 67% to $0.25 premarket
** The biotech firm says its experimental nasal spray for social anxiety disorder, a condition marked by intense fear of social situations, failed to beat placebo in a late-stage trial
** Says patients given fasedienol showed a similar reduction in anxiety as those receiving placebo during a simulated public-speaking test
** A separate analysis found patients with the most severe social anxiety saw greater benefit from the drug versus placebo
** VTGN says fasedienol was well-tolerated, with a safety profile consistent with earlier studies
** Plans FDA talks on a new study focused on overall treatment of social anxiety disorder rather than short-term symptoms
** Expects its cash reserves to fund operations into 2027
** As of last close, stock up ~15% YTD  
 

 (Reporting by Sahil Pandey in Bengaluru)
 ((Sahil.Pandey@thomsonreuters.com))