Vistagen Therapeutics, Inc. Class Action Lawsuit - VTGN
Case Summary
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The Vistagen class action lawsuit seeks to represent purchasers or acquirers of Vistagen Therapeutics, Inc. (NASDAQ: VTGN) common stock between April 1, 2024 and December 16, 2025, inclusive (the “Class Period”). Captioned Eller v. Vistagen Therapeutics, Inc., No. 26-cv-00427, the Vistagen class action lawsuit charges Vistagen and certain of Vistagen’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Vistagen class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Vistagen class action lawsuit must be filed with the court no later than March 16, 2026.
CASE ALLEGATIONS: 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 LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Vistagen common stock during the Class Period to seek appointment as lead plaintiff in the Vistagen class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Vistagen class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Vistagen class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Vistagen class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $916 million for investors in 2025, the second year in a row Robbins Geller tops the list. Robbins Geller also earned this top ranking four of the last five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.