VistaGen Therapeutics(US:VTGN) Prnewswire·2026-02-21 12:43Core Viewpoint - Vistagen Therapeutics is facing a federal securities class action lawsuit due to allegations of making false and misleading statements regarding the efficacy of its drug fasedienol, leading to significant financial losses for investors [1][1]. Group 1: Legal Proceedings - Faruqi & Faruqi, LLP is investigating potential claims against Vistagen Therapeutics and has set a deadline of March 16, 2026, for investors to seek the role of lead plaintiff in the class action [1]. - The lawsuit claims that Vistagen and its executives violated federal securities laws by failing to disclose material adverse facts about the drug fasedienol's trial results [1][1]. - Following the announcement of the failed PALISADE-3 clinical trial results, Vistagen's stock price plummeted over 81%, opening at $0.88 per share [1][1]. Group 2: Clinical Trial Results - On December 17, 2025, Vistagen reported that its PALISADE-3 study did not meet its primary efficacy endpoint, failing to show statistically significant improvement in reducing anxiety compared to placebo [1][1]. - The positive assertions made by Vistagen regarding fasedienol's future trial success were deemed false and misleading, contributing to the inflated stock prices prior to the announcement [1][1]. Group 3: Investor Information - Investors who purchased Vistagen securities between April 1, 2024, and December 16, 2025, are encouraged to contact Faruqi & Faruqi for discussions regarding their legal rights [1][1]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Vistagen's conduct [1][1].