VistaGen Therapeutics(US:VTGN) TMX Newsfile·2026-01-22 02:10Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Vistagen Therapeutics, Inc. due to allegations of violations of federal securities laws related to misleading statements about the company's clinical trial results [2][5]. Group 1: Legal Investigation and Claims - The law firm is encouraging investors who suffered losses in Vistagen between April 1, 2024, and December 16, 2025, to discuss their legal rights [1]. - A federal securities class action has been filed against Vistagen, with a deadline of March 16, 2026, for investors to seek the role of lead plaintiff [2]. - The complaint alleges that Vistagen and its executives made false statements regarding the likelihood of success in the PALISADE-3 clinical trial, which misled investors and caused them to purchase shares at inflated prices [5]. Group 2: Clinical Trial Results and Market Impact - On December 17, 2025, Vistagen announced that its PALISADE-3 study for fasedienol failed to meet its primary efficacy endpoint, leading to a significant stock price drop of over 81%, opening at $0.88 per share [6]. - The study did not demonstrate statistically significant improvement in anxiety reduction compared to placebo, which contradicted previous positive assertions made by the company [5][6]. Group 3: Firm Background and Contact Information - Faruqi & Faruqi, LLP is a national securities law firm with a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [4]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Vistagen's conduct [8].