(VTGN) VistaGen Therapeutics - Overview
Stock: Nasal Spray, Depression, Anxiety, Hormone, Cognitive
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 84.3% |
| Relative Tail Risk | -15.3% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.50 |
| Alpha | -96.64 |
| Character TTM | |
|---|---|
| Beta | 1.007 |
| Beta Downside | 0.621 |
| Drawdowns 3y | |
|---|---|
| Max DD | 96.09% |
| CAGR/Max DD | -0.55 |
Description: VTGN VistaGen Therapeutics December 22, 2025
Vistagen Therapeutics (VTGN) is a clinical-stage biopharma focused on intranasal “pherine” therapies for neuropsychiatric and neurological conditions. Its lead asset, fasedienol, is a Phase III nasal spray for adult social anxiety disorder, while Itruvone is in Phase II for major depressive disorder. Additional Phase II programs target menopause-related vasomotor symptoms (PH80), mental-fatigue-related cognitive impairment (PH15), cachexia-related appetite loss (PH284), and an oral NMDA-receptor prodrug (AV-101). The company licenses fasedienol to AffaMed Therapeutics for broader anxiety indications.
As of the latest filing, VTGN’s market capitalization hovers around $190 million with a cash runway of roughly 12 months, reflecting a quarterly cash burn of $25–30 million. The mental-health market is projected to exceed $200 billion by 2028, driving strong demand for non-oral, rapid-onset treatments. A Phase III readout for fasedienol is slated for Q3 2025, and successful results could unlock a multi-billion-dollar addressable market and potential partnership upside.
For a deeper dive into VTGN’s valuation metrics and comparable peers, you might find ValueRay’s analyst notes useful.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -62.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.66 > 0.02 and ΔFCF/TA -32.67 > 1.0 |
| NWC/Revenue: 9055 % < 20% (prev 10.6k%; Δ -1499 % < -1%) |
| CFO/TA -0.65 > 3% & CFO -52.9m > Net Income -62.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 5.79 > 1.5 & < 3 |
| Outstanding Shares: last quarter (35.7m) vs 12m ago 16.70% < -2% |
| Gross Margin: 31.90% > 18% (prev 0.32%; Δ 3158 % > 0.5%) |
| Asset Turnover: 0.79% > 50% (prev 0.85%; Δ -0.07% > 0%) |
| Interest Coverage Ratio: -33.91 > 6 (EBITDA TTM -63.4m / Interest Expense TTM -1.89m) |
Altman Z'' -15.00
| A: 0.81 (Total Current Assets 78.9m - Total Current Liabilities 13.6m) / Total Assets 80.9m |
| B: -5.46 (Retained Earnings -442.1m / Total Assets 80.9m) |
| C: -0.70 (EBIT TTM -64.1m / Avg Total Assets 91.7m) |
| D: -30.30 (Book Value of Equity -442.1m / Total Liabilities 14.6m) |
| Altman-Z'' Score: -49.03 = D |
What is the price of VTGN shares?
Over the past week, the price has changed by +0.57%, over one month by -21.78%, over three months by -85.99% and over the past year by -80.38%.
Is VTGN a buy, sell or hold?
- StrongBuy: 3
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the VTGN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 1 | 73.2% |
| Analysts Target Price | 1 | 73.2% |
| ValueRay Target Price | 0.4 | -37.5% |
VTGN Fundamental Data Overview February 05, 2026
P/B = 0.327
Revenue TTM = 721.0k USD
EBIT TTM = -64.1m USD
EBITDA TTM = -63.4m USD
Long Term Debt = 1.21m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 1.25m USD (from shortTermDebt, last quarter)
Debt = 1.86m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -60.9m USD (from netDebt column, last quarter)
Enterprise Value = -53.8m USD (21.5m + Debt 1.86m - CCE 77.2m)
Interest Coverage Ratio = -33.91 (Ebit TTM -64.1m / Interest Expense TTM -1.89m)
EV/FCF = 1.01x (Enterprise Value -53.8m / FCF TTM -53.1m)
FCF Yield = 98.62% (FCF TTM -53.1m / Enterprise Value -53.8m)
FCF Margin = -7364 % (FCF TTM -53.1m / Revenue TTM 721.0k)
Net Margin = -8632 % (Net Income TTM -62.2m / Revenue TTM 721.0k)
Gross Margin = 31.90% ((Revenue TTM 721.0k - Cost of Revenue TTM 491.0k) / Revenue TTM)
Gross Margin QoQ = none% (prev 30.74%)
Tobins Q-Ratio = -0.67 (set to none) (Enterprise Value -53.8m / Total Assets 80.9m)
Interest Expense / Debt = 0.32% (Interest Expense 6000 / Debt 1.86m)
Taxrate = 21.0% (US default 21%)
NOPAT = -50.7m (EBIT -64.1m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 5.79 (Total Current Assets 78.9m / Total Current Liabilities 13.6m)
Debt / Equity = 0.03 (Debt 1.86m / totalStockholderEquity, last quarter 66.3m)
Debt / EBITDA = 0.96 (negative EBITDA) (Net Debt -60.9m / EBITDA -63.4m)
Debt / FCF = 1.15 (negative FCF - burning cash) (Net Debt -60.9m / FCF TTM -53.1m)
Total Stockholder Equity = 68.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -67.86% (Net Income -62.2m / Total Assets 80.9m)
RoE = -90.65% (Net Income TTM -62.2m / Total Stockholder Equity 68.7m)
RoCE = -91.79% (EBIT -64.1m / Capital Employed (Equity 68.7m + L.T.Debt 1.21m))
RoIC = -73.37% (negative operating profit) (NOPAT -50.7m / Invested Capital 69.1m)
WACC = 8.88% (E(21.5m)/V(23.3m) * Re(9.63%) + D(1.86m)/V(23.3m) * Rd(0.32%) * (1-Tc(0.21)))
Discount Rate = 9.63% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 55.95%
Fair Price DCF = unknown (Cash Flow -53.1m)
EPS Correlation: -29.14 | EPS CAGR: -8.45% | SUE: -0.07 | # QB: 0
Revenue Correlation: 17.26 | Revenue CAGR: -8.36% | SUE: 0.91 | # QB: 1
EPS next Year (2027-03-31): EPS=-1.23 | Chg30d=+0.410 | Revisions Net=+3 | Growth EPS=+32.7% | Growth Revenue=-76.6%