Core Insights - Vistagen reported its financial results for the second quarter of fiscal year 2026, highlighting progress in its clinical trials and corporate developments [1][2][4] Financial Performance - Research and development (R&D) expenses increased to $15.9 million for the quarter ended September 30, 2025, compared to $10.2 million for the same period in 2024, primarily due to higher research and development costs related to the PALISADE Program [4] - General and administrative (G&A) expenses were $4.4 million for the quarter, slightly up from $4.2 million in the previous year [5] - The net loss for the quarter was $19.4 million, compared to a net loss of $13.0 million for the same quarter in 2024 [6] - Cash, cash equivalents, and marketable securities totaled $77.2 million as of September 30, 2025 [9] Clinical Development - The PALISADE-3 Phase 3 trial for fasedienol, aimed at treating social anxiety disorder, has completed its randomized portion, with topline results expected by the end of the calendar year [2][8] - The PALISADE-4 Phase 3 trial, which follows a similar design, is set to report topline results in the first half of 2026 [2][8] Corporate Updates - Paul Edick was appointed to Vistagen's Board of Directors in October, also joining the Audit and Compensation Committees [3]