NASDAQ$VTGN
Vistagen Therapeutics Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Vistagen reported financial results for the fiscal year 2023 third quarter and provided a corporate update.
Vistagen reported a net loss attributable to common stockholders of approximately $9.8 million for the fiscal quarter ended December 31, 2022. The company's cash and cash equivalents were approximately $25.0 million as of December 31, 2022. Vistagen completed the acquisition of Pherin Pharmaceuticals, securing full ownership of PH94B and PH10.
- Pherin acquisition completed, eliminating future royalty payment obligations related to PH94B and PH10, and adding three new drug candidates to Vistagen’s pipeline.
- PH94B Phase 3 program for social anxiety disorder is advancing towards important next steps.
- PH10 Phase 1 study initiated to facilitate plans for Phase 2B development of PH10 for major depressive disorder; FDA Fast Track designation granted.
- Company remains confident in PH94B Phase 3 development program for treatment of social anxiety disorder (SAD).
Headline financials
Revenue & EPS history
Vistagen · Revenue · Quarterly
$358K
Revenue by segment
Vistagen · $1.27M total across 1 segment · Q4 2026
- Sublicense and other revenue$1.27M—100.0%
Forward guidance
Vistagen is preparing to meet with the FDA to discuss its broader Phase 3 development plan for PH94B. The Company expects to announce its plans regarding PALISADE-2 concurrently with other updates to its PH94B Phase 3 development plan. The Company anticipates reporting topline results from this exploratory Phase 2A AjDA trial by the end of the first quarter of calendar 2023.
Tailwinds
- Company remains confident in PH94B Phase 3 development program for treatment of social anxiety disorder (SAD).
- Encouraging preliminary data from PALISADE Open Label Study inform Phase 3 path forward in SAD.
- PH10 receives Fast Track designation in major depressive disorder (MDD) from FDA; Phase 1 clinical trial underway to facilitate Phase 2B program.
- AV-101 + Probenecid Phase 1B trial progressing.
- Acquisition of Pherin Pharmaceuticals, Inc. completed.
Headwinds
- After further analysis of PALISADE-1, a single administration Phase 3 public speaking challenge study, the Company has identified several potential explanations for the unexpected results of the study, primarily complexities associated with the single-dose assessment public speaking challenge methodology and conducting the study during surges in the COVID-19 pandemic.
- Upon reviewing information and data available this time, the Company believes it is not yet advisable to make a decision about resuming PALISADE-2 before discussing its broader Phase 3 development plan for PH94B with the FDA and before further assessing the potential impact of the proposed adjustments to the PALISADE-2 protocol in light of two recently completed public speaking challenge SAD studies conducted by peers, each of which did not achieve its primary efficacy endpoint.
- There can be no guarantee that any of the Company’s drug candidates will successfully complete ongoing or future clinical trials, receive regulatory approval or be commercially successful.
- Delays in launching, conducting and/or completing other ongoing and planned clinical trials, including adverse effects resulting from the COVID-19 pandemic
- Fluctuating costs of materials and other resources required to conduct the Company’s ongoing and/or planned clinical and non-clinical trials
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2023
+2.5%
Avg return
Earnings day
+0.0%
Avg return
5 days after
+1.1%
Avg return
30 days after
39%
23 / 59 earnings
Positive
+94.1%
Q4 2012
Best reaction
-24.0%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +19.2% | +17.1% | — | |
| Q3 2026 | -3.5% | -7.0% | +7.0% | |
| Q2 2026 | +0.0% | +18.4% | +11.8% | |
| Q1 2026 | +8.1% | +7.3% | +30.0% | |
| Q4 2025 | +7.0% | +5.7% | -3.9% | |
| Q3 2025 | +4.2% | +0.0% | -5.3% | |
| Q2 2025 | +1.3% | -5.5% | -16.1% | |
| Q1 2025 | -2.7% | -2.7% | -5.3% | |
| Q4 2024 | +0.3% | -4.3% | +6.3% | |
| Q3 2024 | +4.7% | -1.0% | -23.9% | |
| Q2 2024 | -16.6% | +3.2% | +51.0% | |
| Q1 2024 | -8.8% | -10.8% | -4.3% | |
| Q4 2023 | +6.5% | +19.5% | +7.1% | |
| Q3 2023 | -24.0% | -28.0% | -44.0% | |
| Q2 2023 | +45.5% | +45.5% | +9.1% | |
| Q1 2023 | -5.9% | -5.9% | +23.5% | |
| Q4 2022 | -3.9% | -10.8% | -85.3% | |
| Q3 2022 | -7.4% | -1.2% | -26.5% | |
| Q2 2022 | +0.4% | -7.7% | -21.0% | |
| Q1 2022 | +2.2% | +0.0% | +11.4% | |
| Q4 2021 | +10.9% | +19.4% | -5.6% | |
| Q3 2021 | -5.0% | -1.0% | +16.9% | |
| Q2 2021 | +2.9% | +5.9% | +8.8% | |
| Q1 2021 | -7.3% | -14.6% | -25.6% | |
| Q4 2020 | +1.9% | +1.9% | +76.9% | |
| Q3 2020 | -12.2% | -10.8% | -45.9% | |
| Q2 2020 | +0.9% | +0.0% | -58.9% | |
| Q1 2020 | -12.7% | -7.3% | +100.0% | |
| Q4 2019 | -5.3% | -2.7% | -30.7% | |
| Q3 2019 | -2.9% | -16.1% | -26.4% | |
| Q2 2019 | -3.3% | -0.9% | -19.3% | |
| Q1 2019 | -3.1% | +2.3% | +8.6% | |
| Q4 2018 | +1.5% | +3.0% | -2.3% | |
| Q3 2018 | +3.4% | +8.6% | +9.5% | |
| Q2 2018 | -1.3% | -3.7% | +125.0% | |
| Q1 2018 | +0.0% | +5.2% | -6.4% | |
| Q4 2017 | +2.2% | -3.3% | +11.5% | |
| Q3 2017 | -10.2% | -19.3% | -28.8% | |
| Q2 2017 | +2.4% | -1.1% | -6.1% | |
| Q1 2017 | +6.3% | +7.8% | +28.5% | |
| Q4 2016 | -9.9% | -4.2% | -8.8% | |
| Q3 2016 | +0.0% | — | — | |
| Q2 2016 | +0.0% | — | — | |
| Q1 2016 | -9.2% | — | — | |
| Q4 2015 | -6.3% | — | — | |
| Q3 2015 | +0.0% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2015 | +0.0% | — | — | |
| Q4 2014 | -1.5% | — | — | |
| Q3 2014 | +0.0% | — | — | |
| Q2 2014 | -8.6% | — | — | |
| Q4 2013 | +0.0% | — | — | |
| Q1 2014 | +0.0% | — | — | |
| Q3 2013 | +0.0% | — | — | |
| Q2 2013 | +0.0% | — | — | |
| Q1 2013 | +94.1% | — | — | |
| Q4 2012 | +94.1% | — | — | |
| Q3 2012 | +1.8% | — | — | |
| Q2 2012 | +0.0% | — | — | |
| Q2 2011 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q1 2010 | — | — | — | |
| Q4 2010 | — | — | — |
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