LOS ANGELES, Jan. 16, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Vistagen Therapeutics, Inc., (“Vistagen” or the "Company") (NASDAQ: VTGN) investors off a class action on behalf of investors that bought securities between April 1, 2024 and December 16, 2025, inclusive (the “Class Period”). Vistagen investors have until March 16, 2026 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/vistagen-therapeutics-inc/. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Vistagen is a clinical-stage biopharmaceutical company focused on the development and commercialization of therapies for neuropsychiatric and neurological disorders.  Vistagen’s product pipeline includes fasedienol, an investigational pherine nasal spray for the treatment of anxiety in adults with social anxiety disorder.

The Vistagen class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that defendants created the false impression that fasedienol’s positive results achieved in the previous PALISADE-2 trial, in addition to notable enhancements and operational changes made to the execution of the PALISADE-3 clinical trial, supported a strong likelihood of Phase 3 success and positioned it as a confirmatory study.  In reality, the complaint alleges, defendants had knowingly or recklessly omitted the risk of failure inherent in public speaking challenge-based social anxiety disorder clinical trials.

The Vistagen investor class lawsuit action further alleges that on December 17, 2025, Vistagen revealed that the PALISADE-3 Phase 3 study of intranasal fasedienol for the acute treatment of social anxiety disorder did not demonstrate a statistically significant improvement on the primary endpoint of change on the Subjective Units of Distress Scale.  In pertinent part, defendants allegedly announced the trial did not achieve its primary endpoint and there was no treatment difference between fasedienol and placebo for the secondary endpoints.  On this news, the price of Vistagen shares fell more than 80%, the Vistagen shareholder lawsuit alleges.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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