Vistagen raises $100 million after share-exalting trial results
California-based Vistagen Therapeutics (Nasdaq: VTGN), a company aiming to transform the treatment landscape for anxiety, depression, and other central nervous system (CNS) disorders, has raised $100 million through an underwritten offering of its common stock.
Top-tier, long-biased, fundamental healthcare investors showed support for Vistagen, which recently released positive Phase III data for fasedienol – the first positive late-stage study of an investigational therapy for society anxiety disorder (SAD) in more than 15 years.
The nasal spray yielded positive top-line results from the PALISADE-2 trial evaluating the efficacy, safety, and tolerability of the nasal spray in adults diagnosed with SAD, a condition said to affect around 10% of Americans. The data sent shares in the company upwards by 677% in a day.
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