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]

Core Insights - Vistagen is a late clinical-stage biopharmaceutical company focused on developing intranasal product candidates known as pherines [1] - The company will present data on its investigational pherine nasal spray, PH80, at The Menopause Society 2025 Annual Meeting [1] - PH80 is characterized as a novel, non-systemic, and non-hormonal treatment option [1] Company Overview - Vistagen specializes in neuroscience and aims to pioneer new therapeutic approaches through nose-to-brain neurocircuitry [1] - The company is publicly traded on Nasdaq under the ticker VTGN [1] Upcoming Events - The presentation of PH80 data is scheduled for October 23, 2025, in Orlando, Florida [1]