Vistagen Reports Positive Preliminary Data from PALISADE-3 Study
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 12 2026
0mins
Vistagen announced preliminary positive data from the ongoing open-label extension portion of its PALISADE-3 Phase 3 study of fasedienol for the acute treatment of social anxiety disorder. In a recent analysis of subjects who elected to participate in the OLE portion of PALISADE-3, administration of 3.2 microgram of fasedienol - taken as needed, up to six times per day in real-world, anxiety-provoking situations in daily life for up to 12 months - has been well-tolerated, with no new drug-related safety findings or trends identified. Exploratory efficacy data over the first four months of treatment demonstrated a clinically relevant improvement over time on both the clinician-administered Liebowitz Social Anxiety Scale and the Social Phobia Inventory. "Social anxiety disorder surfaces in the everyday moments of people's lives," said Shawn Singh, President and Chief Executive Officer of Vistagen. "Among our core goals is giving patients the ability to manage their anxiety in the daily life situations that matter most to them. We're continually encouraged by the improvements observed over time when patients in our open-label studies self-administer fasedienol as they feel it's needed."
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About VTGN
Vistagen Therapeutics, Inc. is a late clinical-stage biopharmaceutical company. The Company is leveraging a deep understanding of nose-to-brain neurocircuitry to develop and commercialize a new class of intranasal product candidates called pherines. Pherines specifically and selectively bind as agonists on peripheral receptors on human nasal chemosensory neurons and are designed to activate olfactory bulb-to-brain neurocircuits believed to regulate brain areas involved in behavior and autonomic nervous system activity. Its neuroscience product candidates include Fasedienol, Itruvone, PH15, PH80, and PH284. Fasedienol, its lead clinical-stage product candidate, is a synthetic neuroactive intranasal pherine in an ongoing U.S. registration-directed Phase III clinical development program for the acute treatment of anxiety in adults with SAD. Its neuroscience pipeline also includes an oral prodrug with potential to treat certain neurological conditions involving the NMDA receptor.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Vistagen Appoints New Chief Medical Officer
- Executive Appointment: Vistagen has appointed Dr. Angel S. Angelov as Chief Medical Officer, effective May 18, 2026, bringing two decades of experience in clinical development and medical affairs, which is expected to drive innovation in neuropsychiatry and women's health.
- Extensive Industry Background: Dr. Angelov has held significant roles at companies like Karuna, Neurocrine, Novartis, and Teva, and his expertise in neuromodulation therapeutics will provide crucial support for Vistagen's product development, particularly in treating acute social anxiety disorder and major depressive disorder.
- Incentive Measures: The Compensation Committee of Vistagen's Board granted Dr. Angelov an option to purchase 150,000 shares of common stock at an exercise price of $0.5955 per share, which is expected to incentivize his long-term contributions to the company and enhance team cohesion.
- Product Development Outlook: Vistagen's pherine product candidates aim to deliver therapeutic effects through intranasal administration, avoiding blood absorption, and if successfully developed, could offer safer treatment options for patients, particularly in managing social anxiety and menopausal symptoms.
See More
Vistagen CEO to Participate in Healthcare Conference
- Conference Participation: Vistagen's CEO Shawn Singh will participate in a fireside chat at the RBC Capital Markets Global Healthcare conference on May 20, 2026, at 2:35 p.m. Eastern Time, showcasing the company's pioneering research in neuroscience.
- One-on-One Meetings: The company will also host one-on-one meetings during the conference, aimed at deepening investor engagement and enhancing understanding and confidence in Vistagen's innovative approaches.
- Product Candidate Progress: Vistagen's leading product candidates include fasedienol for social anxiety disorder, itruvone for major depressive disorder, and refisolone for vasomotor symptoms, all in clinical development, indicating significant market potential.
- Technological Advantage: Vistagen's pherine candidates utilize intranasal delivery to achieve rapid onset without blood absorption, potentially offering safer treatment options for patients, which could transform existing therapeutic approaches if successfully developed.
See More
Positive Data on Fasedienol Nasal Spray for Social Anxiety Disorder
- Strong Safety Profile: In the open-label extension of the PALISADE-3 study, 341 patients with social anxiety disorder demonstrated a low discontinuation rate of 2.6% due to adverse events, with most being mild or moderate, indicating a favorable safety profile for fasedienol.
- Significant Clinical Improvement: Over four months of treatment, patients showed an average improvement of 25.4 points on the Liebowitz Social Anxiety Scale (LSAS), with 56% achieving a ≥20 point improvement, highlighting the clinical relevance of fasedienol in alleviating social anxiety.
- Positive Patient Feedback: Vistagen's CEO Shawn Singh noted that patients' ability to manage anxiety in daily life situations has significantly improved, underscoring the importance and potential market demand for fasedienol in real-world applications.
- Promising Future Research: Vistagen plans to release topline data from PALISADE-4 in Q2 2026, and if results are positive, it could provide substantial support for a New Drug Application (NDA) to the FDA, further advancing fasedienol's commercialization efforts.
See More
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- Clinical Trial Progress: Vistagen announced the completion of the randomized portion of its PALISADE-4 Phase 3 clinical trial, with topline results expected in Q2 2026, marking a significant milestone in the treatment of social anxiety disorder that could enhance the market outlook for its product.
- FDA Fast Track Designation: The FDA has granted Fast Track designation for fasedienol, indicating its potential in the acute treatment of social anxiety disorder; if PALISADE-4 is successful, it will provide crucial support for a New Drug Application, further boosting investor confidence.
- Data Analysis Optimization: Vistagen is analyzing datasets from PALISADE-1, PALISADE-2, and PALISADE-3, having refined the statistical analysis plan for PALISADE-4 to enhance trial efficacy, a strategy that may improve the drug's competitive position in the market.
- Impact of Social Anxiety Disorder: Social anxiety disorder affects over 30 million adults in the U.S., and Vistagen's fasedienol aims to provide rapid anxiety relief through a unique intranasal delivery mechanism, potentially serving as a safer alternative to existing treatments and meeting the market demand for new therapies.
See More
Investigation into Vistagen Therapeutics Shareholder Lawsuit
- Shareholder Lawsuit Investigation: Kuehn Law, PLLC is investigating whether certain officers and directors of Vistagen Therapeutics, Inc. breached their fiduciary duties to shareholders, as indicated by a federal securities lawsuit alleging the company failed to disclose risks associated with social anxiety disorder clinical trials.
- Clinical Trial Risks: The lawsuit claims that Vistagen's Phase 2 experience revealed that public speaking challenge endpoints often show elevated placebo responses and measurement noise, yet the company continued to promote modifications to the Phase 3 trial, presenting PALISADE-3 as likely to succeed.
- Investor Rights Protection: Kuehn Law urges VTGN shareholders who purchased shares before April 1, 2024, to contact the firm promptly to enforce their rights, emphasizing the importance of shareholder voices in maintaining the integrity of financial markets.
- Legal Cost Commitment: Kuehn Law assures that it will cover all case costs without charging investor clients, aiming to encourage more shareholders to participate in the lawsuit to protect their investment rights.
See More
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- FDA Approval Milestone: Vistagen announced it has received a 'Study May Proceed' letter from the FDA, allowing further Phase 2 clinical development of refisolone nasal spray in the U.S., addressing a significant unmet need for the 75% of American women experiencing hot flashes during menopause.
- Clinical Trial Results: In a randomized, double-blind Phase 2a clinical study, refisolone demonstrated significant efficacy in reducing hot flash frequency by 80% in treated women compared to a 36% reduction in the placebo group, highlighting its potential for symptom relief.
- Safety Profile: The study reported good tolerability for refisolone with no serious drug-related adverse events, enhancing its appeal as a non-hormonal treatment option and potentially offering new hope for women seeking safer alternatives.
- Market Potential: With the development of refisolone, Vistagen's strategic positioning in women's health will be strengthened, potentially providing millions of women with a fast-acting, non-hormonal treatment option, thereby enhancing the company's competitiveness in the biopharmaceutical market.
See More
Vistagen Appoints New Chief Medical Officer
- Executive Appointment: Vistagen has appointed Dr. Angel S. Angelov as Chief Medical Officer, effective May 18, 2026, bringing two decades of experience in clinical development and medical affairs, which is expected to drive innovation in neuropsychiatry and women's health.
- Extensive Industry Background: Dr. Angelov has held significant roles at companies like Karuna, Neurocrine, Novartis, and Teva, and his expertise in neuromodulation therapeutics will provide crucial support for Vistagen's product development, particularly in treating acute social anxiety disorder and major depressive disorder.
- Incentive Measures: The Compensation Committee of Vistagen's Board granted Dr. Angelov an option to purchase 150,000 shares of common stock at an exercise price of $0.5955 per share, which is expected to incentivize his long-term contributions to the company and enhance team cohesion.
- Product Development Outlook: Vistagen's pherine product candidates aim to deliver therapeutic effects through intranasal administration, avoiding blood absorption, and if successfully developed, could offer safer treatment options for patients, particularly in managing social anxiety and menopausal symptoms.
See More
Vistagen CEO to Participate in Healthcare Conference
- Conference Participation: Vistagen's CEO Shawn Singh will participate in a fireside chat at the RBC Capital Markets Global Healthcare conference on May 20, 2026, at 2:35 p.m. Eastern Time, showcasing the company's pioneering research in neuroscience.
- One-on-One Meetings: The company will also host one-on-one meetings during the conference, aimed at deepening investor engagement and enhancing understanding and confidence in Vistagen's innovative approaches.
- Product Candidate Progress: Vistagen's leading product candidates include fasedienol for social anxiety disorder, itruvone for major depressive disorder, and refisolone for vasomotor symptoms, all in clinical development, indicating significant market potential.
- Technological Advantage: Vistagen's pherine candidates utilize intranasal delivery to achieve rapid onset without blood absorption, potentially offering safer treatment options for patients, which could transform existing therapeutic approaches if successfully developed.
See More
Positive Data on Fasedienol Nasal Spray for Social Anxiety Disorder
- Strong Safety Profile: In the open-label extension of the PALISADE-3 study, 341 patients with social anxiety disorder demonstrated a low discontinuation rate of 2.6% due to adverse events, with most being mild or moderate, indicating a favorable safety profile for fasedienol.
- Significant Clinical Improvement: Over four months of treatment, patients showed an average improvement of 25.4 points on the Liebowitz Social Anxiety Scale (LSAS), with 56% achieving a ≥20 point improvement, highlighting the clinical relevance of fasedienol in alleviating social anxiety.
- Positive Patient Feedback: Vistagen's CEO Shawn Singh noted that patients' ability to manage anxiety in daily life situations has significantly improved, underscoring the importance and potential market demand for fasedienol in real-world applications.
- Promising Future Research: Vistagen plans to release topline data from PALISADE-4 in Q2 2026, and if results are positive, it could provide substantial support for a New Drug Application (NDA) to the FDA, further advancing fasedienol's commercialization efforts.
See More
Vistagen Completes Randomized Portion of PALISADE-4 Trial
- Clinical Trial Progress: Vistagen announced the completion of the randomized portion of its PALISADE-4 Phase 3 clinical trial, with topline results expected in Q2 2026, marking a significant milestone in the treatment of social anxiety disorder that could enhance the market outlook for its product.
- FDA Fast Track Designation: The FDA has granted Fast Track designation for fasedienol, indicating its potential in the acute treatment of social anxiety disorder; if PALISADE-4 is successful, it will provide crucial support for a New Drug Application, further boosting investor confidence.
- Data Analysis Optimization: Vistagen is analyzing datasets from PALISADE-1, PALISADE-2, and PALISADE-3, having refined the statistical analysis plan for PALISADE-4 to enhance trial efficacy, a strategy that may improve the drug's competitive position in the market.
- Impact of Social Anxiety Disorder: Social anxiety disorder affects over 30 million adults in the U.S., and Vistagen's fasedienol aims to provide rapid anxiety relief through a unique intranasal delivery mechanism, potentially serving as a safer alternative to existing treatments and meeting the market demand for new therapies.
See More
Investigation into Vistagen Therapeutics Shareholder Lawsuit
- Shareholder Lawsuit Investigation: Kuehn Law, PLLC is investigating whether certain officers and directors of Vistagen Therapeutics, Inc. breached their fiduciary duties to shareholders, as indicated by a federal securities lawsuit alleging the company failed to disclose risks associated with social anxiety disorder clinical trials.
- Clinical Trial Risks: The lawsuit claims that Vistagen's Phase 2 experience revealed that public speaking challenge endpoints often show elevated placebo responses and measurement noise, yet the company continued to promote modifications to the Phase 3 trial, presenting PALISADE-3 as likely to succeed.
- Investor Rights Protection: Kuehn Law urges VTGN shareholders who purchased shares before April 1, 2024, to contact the firm promptly to enforce their rights, emphasizing the importance of shareholder voices in maintaining the integrity of financial markets.
- Legal Cost Commitment: Kuehn Law assures that it will cover all case costs without charging investor clients, aiming to encourage more shareholders to participate in the lawsuit to protect their investment rights.
See More
Vistagen Receives FDA Approval for New Drug Study
- FDA Approval Milestone: Vistagen announced it has received a 'Study May Proceed' letter from the FDA, allowing further Phase 2 clinical development of refisolone nasal spray in the U.S., addressing a significant unmet need for the 75% of American women experiencing hot flashes during menopause.
- Clinical Trial Results: In a randomized, double-blind Phase 2a clinical study, refisolone demonstrated significant efficacy in reducing hot flash frequency by 80% in treated women compared to a 36% reduction in the placebo group, highlighting its potential for symptom relief.
- Safety Profile: The study reported good tolerability for refisolone with no serious drug-related adverse events, enhancing its appeal as a non-hormonal treatment option and potentially offering new hope for women seeking safer alternatives.
- Market Potential: With the development of refisolone, Vistagen's strategic positioning in women's health will be strengthened, potentially providing millions of women with a fast-acting, non-hormonal treatment option, thereby enhancing the company's competitiveness in the biopharmaceutical market.
See More
