Vistagen Faces Federal Securities Class Action After Fasedienol Phase 3 Failure

Investors who bought VTGN during the stated period have until March 16, 2026 to seek lead-plaintiff status.

Overview

A complaint styled Dan Eller v. Vistagen Therapeutics, Inc., No. 3:26-cv-00427, was filed in the U.S. District Court for the Northern District of California.
The putative class covers purchasers of Vistagen common stock from April 1, 2024 through December 16, 2025.
Plaintiffs allege the company misled investors about the likelihood of success for the PALISADE-3 study and the significance of earlier PALISADE-2 results.
On December 17, 2025, Vistagen reported PALISADE-3 failed to meet its primary SUDS endpoint and showed no secondary endpoint differences versus placebo.
Following that disclosure, VTGN fell from $4.36 on December 16 to $0.86 on December 17, 2025, a decline of more than 80% according to the filings.