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Vistagen Therapeutics, Inc. (VTGN) stock

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NASDAQ: VTGN Nasdaq Biotechnology Next results ~November 12, 2026

D Fundamentals grade

Vistagen Therapeutics, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$0.1

Price-to-sales vs peers

Base case. Range ~$0.1–$0.6. Sales per share times peers' typical price-to-sales; used only when earnings are negative.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Vistagen Therapeutics, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds25 adding, 29 cuttingOf 9 active managers that changed their stake, 5 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Vistagen Therapeutics files

Where Vistagen Therapeutics stands after its latest 10-Q

Vistagen Therapeutics has little or no product revenue yet; it used $62m of cash in the twelve months to June 2026. That growth ranks 14 of 122 among the biotechnology companies we cover. The diluted share count is up 30.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our price-to-sales vs peers value is $0.15 a share, against a share price of $0.17.

Source: 10-Q filed August 14, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Vistagen Therapeutics, Inc.'s trailing-twelve-month revenue grew 287.3% year on year, with a free-cash-flow margin of -2489.9%. Where it stands out: change in growth rate of +126.0pp ranks 17 of 172 biotechnology companies we cover. Where it lags: free-cash-flow margin of -2489.9% ranks 154 of 176 biotechnology companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 287.3% (+126.0pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 287.3% over the last 12 months, against a median of 12.6% for biotechnology companies we cover.
  • Growth speeding up. The growth rate is 126.0 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 6448.8 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Results due soon. Results are expected around 12 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -2784.3%: costs exceed revenue.
  • Burning cash. Free cash flow was -2489.9% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 162.7% of revenue, against a median of 19.2% for biotechnology companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 30.8% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 143% and a beta of 1.2 against the S&P 500.

Latest results: FY2027 Q1

Filed August 14, 2026
Earnings per share
-$0.30 against an average estimate of -$0.36: beat by 17.8%
Revenue
$1m, up 504.9% on a year earlier
Share reaction
-3.7% in the first session after the results on August 14, 2026, against -0.7% for the S&P 500
Next report
November 12, 2026; average EPS estimate -$0.38

Vistagen Therapeutics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day0.0%
  • 1 week0.0%
  • 1 month-39.3%
  • This year-74.2%
  • 1 year-95.7%
  • 5 years-99.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.5M
Operating margin
-2784.3%
Net margin
-2702.6%
EPS (TTM, diluted)
$-1.66

Growth

Revenue growth
+287.3%
Change in growth rate
+126.0 pts
Share count change
+30.8%

Cash

Free cash flow (TTM)
-$62.3M
FCF margin
-2489.9%
Stock pay % of revenue
162.7%

Earnings

Last results
August 14, 2026
Next results (est.)
November 12, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Restructuring
  2. Leadership
  3. Announcement
  4. Announcement
  5. Announcement
  6. Shareholder vote
  7. Results
  8. Announcement
  9. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Vistagen Therapeutics, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Vistagen Therapeutics, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.08 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.1 ~$0.2–$0.6 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$0.1 ~$0.1–$0.6 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Vistagen Therapeutics, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182020202120222023202420252026Now
Share price$262.50$58.80$27.90$13.20$63.90$37.20$3.60$5.28$2.50$0.57$0.17
Market value$93m$89m$78m$39m$183m$245m$25m$102m$77m$22m$7m
+ Net debt (− = net cash)−$314100−$3m−$10m−$1m−$103m−$68m−$17m−$119m−$67m−$31m−$17m
Enterprise value$93m$86m$67m$37m$80m$177m$9m−$17m$10m−$9m−$10m
Multiples
Price / sales —70.9x——168.4xn/m—96.0x158.8x17.1x2.8x
Price / earnings ———————————
Price / free cash flow ———————————
EV / EBITDA ———————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

10 /100

Weak moat

How hard Vistagen Therapeutics's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -193.3% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -1562.3%; its worst year was -9233.1%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 1 of 5 years, at a median -2968.1% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 2560.4% over five years; stock-based pay has been a median 153.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (15 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026, before the open. Analysts expect revenue of $250000 and EPS of −$0.38 (range −$0.38 to −$0.37) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$1.48 +19% $2m +34%
Next −$1.54 −4% — −100%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is 0.0% on 90 days ago. In the last 30 days, 0 analysts raised Vistagen Therapeutics, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Vistagen Therapeutics, Inc., last 90 days
−$2.00 −$1.50 −$1.00 −$0.50 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$1.48 Current fiscal year, 60 days ago: −$1.48 Current fiscal year, 30 days ago: −$1.45 Current fiscal year, 7 days ago: −$1.45 Current fiscal year, Now: −$1.48 −$1.48 Next fiscal year, 90 days ago: −$1.11 Next fiscal year, 60 days ago: −$1.54 Next fiscal year, 30 days ago: −$1.54 Next fiscal year, 7 days ago: −$1.54 Next fiscal year, Now: −$1.54 −$1.54

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$1.48−$1.11
60 days ago −$1.48−$1.54
30 days ago −$1.45−$1.54
7 days ago −$1.45−$1.54
Now −$1.48−$1.54

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.36 −$0.30 +17.8%
Mar 2026 −$0.27 −$0.37 −37.0%
Dec 2025 −$0.48 −$0.45 +7.2%
Sept 2025 −$0.44 −$0.54 −22.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

4 analysts, Oct 2026
Buy00%
Hold4100%
Sell00%

Monthly trend

  1. Oct 202644
  2. Sep 202644

Counts of recommendations published by analysts covering Vistagen Therapeutics, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.6%
of tradable shares
Days to cover
0.09
at average volume
Short interest, 1 month
−9%
to October 15, 2026
Held by institutions
31%
of shares
Held by insiders
0.4%
of shares
Employees
41
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −95.7%

$3.94 on October 31, 2025 to $0.17

ThenNowEffect
Revenue (last 12 months) $646000 $3m +287.3%
P/S multiple 190.3x 2.8x −98.5%
Share count 31m 41m −23.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
VTGN+1%−95%+71%−43%−78%−74%
Industry peers (median)−36%−56%−18%−28%−5%−26%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
VTGN58%25%42%42%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
VTGN−52%−96%−81%−61%−87%−78%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 100% from January 4, 2016 to October 26, 2026. Getting back needed a 174606% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.17 – $4.90
From 52-week high
−96.5%
vs 50-day average
−28.1%
vs 200-day average
−61.6%
Volatility (1 year)
143%
Beta vs S&P 500
1.16

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±7.2%
After a week
5 up, 7 down
typical move ±7.9%
After a month
7 up, 5 down
typical move ±17.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 14, 2026 −3.7% −0.7% −11.1% −11.1%
June 15, 2026 +19.0% +1.2% +8.6% −58.6%
February 12, 2026 −10.5% −1.5% −1.8% +10.5%
November 13, 2025 −6.6% −1.7% +9.3% +7.9%
August 7, 2025 0.0% +0.7% −0.3% +17.2%
June 17, 2025 −12.7% −0.9% −14.0% +8.1%
February 13, 2025 +8.4% +1.1% +6.9% +2.9%
November 7, 2024 +1.3% +1.2% −11.9% −16.5%
August 13, 2024 −2.7% +2.0% +6.5% −5.3%
June 11, 2024 +0.3% +1.1% −10.1% +4.3%
February 13, 2024 +4.7% −0.5% −6.4% −23.9%
November 9, 2023 −16.6% +0.8% +7.8% +40.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Vistagen Therapeutics, Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Vistagen Therapeutics, Inc.
$0 $1M $2M $3M FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $811K Revenue (TTM), FY24 Q3: $1M Revenue (TTM), FY24 Q4: $1.1M Revenue (TTM), FY25 Q1: $970K Revenue (TTM), FY25 Q2: $875K Revenue (TTM), FY25 Q3: $698K Revenue (TTM), FY25 Q4: $486K Revenue (TTM), FY26 Q1: $646K Revenue (TTM), FY26 Q2: $721K Revenue (TTM), FY26 Q3: $790K Revenue (TTM), FY26 Q4: $1.3M Revenue (TTM), FY27 Q1: $2.5M $2.5M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $811K
FY24 Q3 $1M
FY24 Q4 $1.1M
FY25 Q1 $970K
FY25 Q2 $875K
FY25 Q3 $698K
FY25 Q4 $486K
FY26 Q1 $646K
FY26 Q2 $721K
FY26 Q3 $790K
FY26 Q4 $1.3M
FY27 Q1 $2.5M
Revenue growth, TTM YoY Vistagen Therapeutics, Inc.
-100% 0% 100% 200% 300% 400% FY22 Q2 FY23 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY22 Q2: 339.5% Revenue growth, TTM YoY, FY22 Q3: 133.3% Revenue growth, TTM YoY, FY22 Q4: 1.7% Revenue growth, TTM YoY, FY23 Q1: -26.2% Revenue growth, TTM YoY, FY25 Q2: 7.9% Revenue growth, TTM YoY, FY25 Q3: -33.0% Revenue growth, TTM YoY, FY25 Q4: -54.3% Revenue growth, TTM YoY, FY26 Q1: -33.4% Revenue growth, TTM YoY, FY26 Q2: -17.6% Revenue growth, TTM YoY, FY26 Q3: 13.2% Revenue growth, TTM YoY, FY26 Q4: 161.3% Revenue growth, TTM YoY, FY27 Q1: 287.3% 287.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY22 Q2 339.5%
FY22 Q3 133.3%
FY22 Q4 1.7%
FY23 Q1 -26.2%
FY25 Q2 7.9%
FY25 Q3 -33.0%
FY25 Q4 -54.3%
FY26 Q1 -33.4%
FY26 Q2 -17.6%
FY26 Q3 13.2%
FY26 Q4 161.3%
FY27 Q1 287.3%
Operating margin (TTM) Vistagen Therapeutics, Inc.
-15000% -10000% -5000% 0% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -4412.3% Operating margin (TTM), FY24 Q3: -3253.5% Operating margin (TTM), FY24 Q4: -3106.4% Operating margin (TTM), FY25 Q1: -3933.4% Operating margin (TTM), FY25 Q2: -5211.5% Operating margin (TTM), FY25 Q3: -7569.8% Operating margin (TTM), FY25 Q4: -11517.1% Operating margin (TTM), FY26 Q1: -9233.1% Operating margin (TTM), FY26 Q2: -9080.7% Operating margin (TTM), FY26 Q3: -8847.8% Operating margin (TTM), FY26 Q4: -5678.7% Operating margin (TTM), FY27 Q1: -2784.3% -2784.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -4412.3%
FY24 Q3 -3253.5%
FY24 Q4 -3106.4%
FY25 Q1 -3933.4%
FY25 Q2 -5211.5%
FY25 Q3 -7569.8%
FY25 Q4 -11517.1%
FY26 Q1 -9233.1%
FY26 Q2 -9080.7%
FY26 Q3 -8847.8%
FY26 Q4 -5678.7%
FY27 Q1 -2784.3%
FCF margin (TTM) Vistagen Therapeutics, Inc.
-10000% -5000% 0% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: -3882.6% FCF margin (TTM), FY24 Q3: -2524.1% FCF margin (TTM), FY24 Q4: -2428.3% FCF margin (TTM), FY25 Q1: -2968.1% FCF margin (TTM), FY25 Q2: -3827.1% FCF margin (TTM), FY25 Q3: -5590.3% FCF margin (TTM), FY25 Q4: -8661.9% FCF margin (TTM), FY26 Q1: -7751.4% FCF margin (TTM), FY26 Q2: -7343.6% FCF margin (TTM), FY26 Q3: -7632.7% FCF margin (TTM), FY26 Q4: -5231.2% FCF margin (TTM), FY27 Q1: -2489.9% -2489.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 -3882.6%
FY24 Q3 -2524.1%
FY24 Q4 -2428.3%
FY25 Q1 -2968.1%
FY25 Q2 -3827.1%
FY25 Q3 -5590.3%
FY25 Q4 -8661.9%
FY26 Q1 -7751.4%
FY26 Q2 -7343.6%
FY26 Q3 -7632.7%
FY26 Q4 -5231.2%
FY27 Q1 -2489.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Mar 2011 2012 Mar 2012 2013 Mar 2013 2016 Mar 2016 2017 Mar 2017 2018 Mar 2018 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026 LTM Jun 2026
Income
Revenue 2 1 0 0 1 0 0 1 1 −0 1 0 1 3
EBITDA −7 −9 −7 −18 −10 −14 −21 −18 −48 −59 −33 −56 −72 −69
Operating income −7 −9 −7 −18 −10 −14 −21 −18 −48 −59 −33 −56 −72 −70
Net income −9 −12 −13 −47 −10 −14 −21 −18 −48 −59 −29 −51 −70 −68
Diluted EPS −$0.30 −$0.14 −$2.00 −$145.40 −$0.26 −$0.19 −$0.25 −$14.70 — −$8.51 −$1.52 −$1.67 −$1.83 −$1.66
Growth (year on year)
Revenue — −35.2% −85.1% −100.0% — −100.0% — — +1.8% −120.5% — −54.3% +161.1% +287.3%
Margins
EBITDA margin −314.8% −670.4% <−999% — −815.5% — — <−999% <−999% >999% <−999% <−999% <−999% <−999%
Operating margin −317.0% −673.8% <−999% — −819.9% — — <−999% <−999% >999% <−999% <−999% <−999% <−999%
Net margin −457.9% −909.7% <−999% — −820.4% — — <−999% <−999% >999% <−999% <−999% <−999% <−999%
Free-cash-flow margin — — — — −600.1% — — <−999% <−999% >999% <−999% <−999% <−999% <−999%
Cash flow
Cash from operations −1 −4 −3 −5 −7 −9 −16 −12 −45 −50 −26 −42 −66 −62
Capital spending — — — 0 0 0 0 0 0 1 0 0 0 0
Free cash flow — — — −5 −8 −9 −16 −12 −45 −50 −26 −42 −66 −62
Stock-based pay 2 2 1 4 1 2 4 2 3 3 2 4 4 4
Free cash flow after stock pay — — — −9 −8 −11 −20 −15 −49 −54 −28 −46 −70 −66
Balance sheet
Cash 0 0 1 0 3 10 1 103 68 17 119 67 31 17
Total debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −0 −0 −0 −0 −3 −10 −1 −103 −68 −17 −119 −67 −31 −17
Diluted shares — 147m — — 2m 3m 3m 3m 7m 7m 19m 31m 38m 41m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $36m
Short-term assets $34mLonger-term assets $1m
What it owes, and who funded it · $36m
Short-term liabilities $11mLonger-term liabilities $0mShareholders' equity $24m
  • Short-term assets cover short-term liabilities $34m of assets due within a year against $11m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $34m short-term assets against $63,000 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Vistagen Therapeutics, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+30.8%
year over year
R&D spending
2162.4%
of revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated VTGN KRRO CLGN UPB XBIO KRSA Median
Revenue, last 12 months $3m $2m $2m $3m $3m $2m $56m
Revenue growth, last 12 months 287.3% −62.1% 360.4% 16.0% 33.3% −12.6% 12.6%
Revenue growth, 3-year average — −53.7% — — 14.7% — 13.7%
Revenue growth, latest quarter 504.9% −100.0% — −17.5% 12.0% −100.0% 10.2%
Gross margin — — 64.8% — 99.8% — 82.9%
Operating margin <−999% <−999% −484.3% <−999% −81.0% −359.2% −189.4%
Operating margin, 3-year average <−999% <−999% — <−999% −137.7% <−999% −363.5%
Net margin <−999% <−999% −484.6% <−999% −75.9% −353.0% −169.8%
Cash from operations / revenue <−999% <−999% −397.3% <−999% −70.9% −234.3% −168.0%
Free-cash-flow margin <−999% <−999% −398.4% <−999% −70.9% <−999% −162.4%
Free-cash-flow margin, 3-year average <−999% <−999% — — −103.3% — −310.0%
Stock pay / revenue 162.7% 391.7% 42.1% 446.5% 2.9% 16.9% 20.0%
Change in share count 30.8% 28.2% 6.5% — 34.7% 45.4% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 287.3% 12.6% 21 of 172
Change in growth rate Growth +126.0pp -0.1pp 17 of 172
Operating margin Profitability -2784.3% -189.4% 150 of 175
Net margin Profitability -2702.6% -157.3% 156 of 180
Free-cash-flow margin Cash generation -2489.9% -145.4% 154 of 176
Stock pay as % of revenue Cash generation 162.7% 19.2% 151 of 179
Change in share count Balance sheet 30.8% 7.9% 131 of 156

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$2.5M
Institutions reporting
47
Shares held vs prior quarter
▼ 20.9%
Positions opened / closed
10 / 17

Top buyers and sellers, Q2 2026: 25 institutions bought and 29 sold ; the biggest buyer was Commodore Capital LP (+2.8M shares) and the biggest seller Orbimed Advisors LLC (−3.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Commodore Capital LP $630,228 2.8M 25.0% New
Vanguard Capital Management LLC $355,769 1.6M 14.1% 0.0%
Two Sigma Investments, LP $191,646 848K 7.6% ▲ 80.6%
Acadian Asset Management LLC $178,000 795K 7.0% ▲ 34.8%
Renaissance Technologies LLC $165,093 731K 6.5% ▲ 150.8%
Ikarian Capital, LLC $117,311 519K 4.6% 0.0%
Advisorshares Investments LLC $99,133 439K 3.9% ▲ 58.3%
Luminus Management LLC $91,104 403K 3.6% ▲ 1.8%
Geode Capital Management, LLC $82,514 365K 3.3% ▼ 19.5%
ADAR1 Capital Management, LLC $79,358 351K 3.1% ▼ 53.3%
Blackrock, Inc. $78,068 345K 3.1% ▼ 23.0%
Group One Trading LLC $68,791 304K 2.7% ▲ 1431.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Vistagen Therapeutics, Inc.'s complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced

  • August 14, 2026
  • June 15, 2026
  • February 12, 2026
  • November 13, 2025
  • August 7, 2025
  • June 17, 2025

Recent SEC filings

Data status

When each part of this page on Vistagen Therapeutics, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Vistagen Therapeutics, Inc. in brief

What does Vistagen Therapeutics, Inc. do?
Vistagen Therapeutics, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in March.
What is Vistagen Therapeutics, Inc.'s stock ticker?
Vistagen Therapeutics, Inc. trades under the ticker VTGN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Vistagen Therapeutics, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Vistagen Therapeutics, Inc. reported revenue of $2.5M, 287.3% higher than a year earlier, according to its SEC filings.
What is Vistagen Therapeutics, Inc.'s free cash flow?
Vistagen Therapeutics, Inc.'s free-cash-flow margin is -2489.9% of revenue over the trailing twelve months, ranking 154 of the 176 biotechnology companies we cover.
Who are Vistagen Therapeutics, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Commodore Capital LP, Vanguard Capital Management LLC and Two Sigma Investments, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Vistagen Therapeutics, Inc.'s market cap?
On November 2, 2026, Vistagen Therapeutics, Inc.'s market capitalisation was about $6.9M and net debt of -$17M. Market figures come from third-party market data and may be delayed.
Who are Vistagen Therapeutics, Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Vistagen Therapeutics, Inc. are Korro Bio, Inc., Collplant Biotechnologies Ltd, Upstream Bio, Inc., Xenetic Biosciences, Inc. and Korsana Biosciences, Inc. The side-by-side comparison below sets their revenue, margins and growth against Vistagen Therapeutics, Inc.'s.
When is Vistagen Therapeutics, Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Vistagen Therapeutics, Inc. announces its own schedule.