Business
VistaGen Therapeutics Reports Fiscal Year 2020 Results and Provides CNS Pipeline Update
VistaGen Eligible to Receive up to $177 Million, Including Upfront and Potential Milestone Payments, in Addition to Royalties, under PH94B License in Key
About this update from Vistagen Therapeutics, Inc.
[{"type":"text","content":"VistaGen Eligible to Receive up to $177 Million, Including Upfront and Potential Milestone Payments, in Addition to Royalties, under PH94B License in Key Asian Markets Announced Subsequent to Fiscal 2020 Year End\n\n\nSOUTH SAN FRANCISCO, Calif., June 29, 2020 /PRNewswire/ -- VistaGen Therapeutics (NASDAQ: VTGN), a clinical-stage biopharmaceutical company developing new generation medicines for anxiety, depression and other central nervous system (CNS) diseases and disorders with high unmet need, today reported financial results for its fiscal year ended March 31, 2020.\n\n \n \n \n \n \n \n\n \n\"As these unprecedented times persist, with the chaotic implementation of public safety measures and the civil unrest in the fight for social justice, we continue to live in a world filled with heightened uncertainty and unfamiliarity. The spike in the number of individuals experiencing anxiety and depression is unparalleled and it appears the upward trajectory will continue. While innovative means of providing mental health support have been initiated, many needs are still not being met,\" stated Shawn Singh, Chief Executive Officer of VistaGen.\nSingh continued, \"VistaGen is uniquely positioned to develop a robust investigational pipeline of novel treatments for millions of people globally today and for generations to come who are unfortunately suffering due to this heightened mental health pandemic. We have continued to make progress across our CNS pipeline, notably, with PH94B, our first-in-class, rapid-onset neuroactive nasal spray for social anxiety disorder, having recently announced a strategic collaboration with EverInsight for up to $177 million in upfront and potential milestone payments to develop and commercialize PH94B in key Asian markets. This partnership further highlights the value of this asset, which has global market potential as a rapid-onset and safe, acute anxiety therapy, and provides our company with additional working capital to continue the significant progress we have made in preparation for our Phase 3 program in parallel with emphasis on additional strategic collaborations for development and commercialization of our pipeline in key regional markets outside the U.S.\"\nVistaGen's CNS Pipeline:\nVistaGen is developing three differentiated, patent-protected, CNS product candidates for large global markets w...