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Dec 31, 2020
Vistagen Q3 2021 Earnings Report
Reported financial results for fiscal 2021 third quarter and provided update on planned clinical advancement of its CNS pipeline.
Key Takeaways
VistaGen Therapeutics reported a decrease in net loss attributable to common stockholders to approximately $5.65 million, compared to $6.28 million for the same period in the previous year. The company recognized $313,600 in sublicense revenue, an increase from the previous year. Research and development expenses increased, while general and administrative expenses decreased. The company's cash and cash equivalents amounted to approximately $104.3 million at the end of the quarter.
Net loss attributable to common stockholders decreased to $5.65 million compared to $6.28 million year-over-year.
Recognized $313,600 in sublicense revenue related to the PH94B agreement, compared to none in the prior year.
Research and development expenses increased to $3.5 million from $3.0 million year-over-year, driven by PH94B and PH10 development.
Cash and cash equivalents totaled approximately $104.3 million.
Revenue by Segment
Forward Guidance
VistaGen expects to launch several clinical studies this calendar year, notably pivotal Phase 3 clinical studies of PH94B as a potential acute treatment of anxiety in adults with social anxiety disorder, as well several small exploratory PH94B Phase 2 studies in adult patients experiencing additional anxiety-related disorders. This year, they will also complete preparations to launch Phase 2B clinical development of PH10 as a potential rapid-onset stand-alone treatment for major depressive disorder in early 2022. Finally, later this year, based on successful preclinical studies involving AV-101 alone and in combination with probenecid, they will launch Phase 1B clinical development of the combination to enable potential exploratory Phase 2 development of in several CNS disorders.
Positive Outlook
- Launch pivotal Phase 3 clinical studies of PH94B for social anxiety disorder.
- Initiate small exploratory PH94B Phase 2 studies in additional anxiety-related disorders.
- Complete preparations for Phase 2B clinical development of PH10 for major depressive disorder.
- Launch Phase 1B clinical development of AV-101 in combination with probenecid for CNS disorders.
- Advance an important stream of potential clinical and regulatory catalysts.
Challenges Ahead
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