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Vistagen Therapeutics, Inc. (NASDAQ: VTGN) Investor Alert: Schubert Jonckheer Investigating Possible False Claims Regarding Drug Candidate Following 80% Stock Drop

prnewswire.com
VTGN The article details an investigation into Vistagen Therapeutics due to alleged false statements regarding its drug candidate fasedienol, following an 80% stock drop after a failed Phase 3 trial. This indicates significant negative sentiment.

SAN FRANCISCO, April 28, 2026 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP advises Vistagen Therapeutics, Inc. (NASDAQ: VTGN) investors that the firm is investigating potential legal claims arising from alleged false statements about Vistagen's drug candidate fasedienol. Current shareholders are encouraged to contact the firm.

On December 17, 2025, Vistagen announced that its PALISADE-3 Phase 3 study of intranasal fasedienol for the acute treatment of social anxiety disorder did not demonstrate a statistically significant improvement on its primary endpoint of change on the Subjective Units of Distress Scale. The company also reported no treatment difference between fasedienol and a placebo on secondary endpoints. Following this news, Vistagen's common stock declined dramatically from a closing price of $4.36 per share on December 16, 2025 to $0.86 per share on December 17, 2025, a decline of more than 80%. According to a class action complaint filed by investors, between April 2024 and December 2025, Vistagen made misleadingly positive statements to investors while, at the same time, concealing material adverse facts concerning its Phase 3 trial of fasedienol.

If you own Vistagen Therapeutics, Inc. (NASDAQ: VTGN) stock, you may have legal options.

We are investigating potential wrongdoing by Vistagen's directors and officers in connection with these allegations.

If you own Vistagen stock, you may have legal options. Visit https://www.classactionlawyers.com/vistagen to learn more.

About Schubert Jonckheer & Kolbe LLP

Schubert Jonckheer & Kolbe represents consumers in class actions and shareholders in derivative actions against corporate officers and directors. The firm is based in San Francisco and, with the help of co-counsel, litigates cases nationwide.

Contact

Dustin L. Schubert

[email protected]

Tel: 415-788-4220

SOURCE Schubert Jonckheer & Kolbe LLP