Published by Dean Seal
Shares of VistaGen Therapeutics have experienced a significant surge in early trading following the successful Phase 3 study of their fasedienol nasal spray as a treatment for social anxiety disorder. The study has achieved its primary endpoint, leading to a spike in the company’s stock.
Impressive Market Performance
After reaching a high of $24.71, marking a remarkable 14-fold increase from last Friday’s closing price of $1.68, the stock has currently settled at $13.50 in the early trading session. This substantial market response reflects the positive outcomes of VistaGen’s nasal spray study.
Study Meets Primary and Secondary Endpoints
The San Francisco-based biopharmaceutical company has announced that the Phase 3 study not only met its primary endpoint but also successfully achieved its secondary goals. Furthermore, the treatment was reported to be well-tolerated, exhibiting a favorable safety profile consistent with previous trials.
Major Milestone in Social Anxiety Disorder Treatment
VistaGen characterized this trial as a groundbreaking achievement, being the first positive study of an investigational therapy for social anxiety disorder in over 15 years. This success is a significant milestone that could potentially lead to improved treatment options for individuals living with this condition.
Continued Development Despite Previous Setbacks
Interestingly, this recent breakthrough comes just over a year after VistaGen’s PH94B nasal spray failed to achieve its primary endpoint in a Phase 3 study focused on adults with social anxiety disorder. Despite this setback, the company expressed its commitment to further developing the nasal spray, culminating in the current positive results.
VistaGen shares previously hit an all-time low of $1.62 at the end of June, highlighting the considerable progress made since then.
