VistaGen Therapeutics Inc.
03/11/2026 | Press release | Distributed by Public on 03/11/2026 05:02
Material Event (Form 8-K)
Item 8.01 Other Events
On March 5, 2026, Vistagen Therapeutics, Inc. (the "Company") implemented a Board approved reduction in its workforce by approximately 20%. The reduction is intended to provide disciplined cash management while prioritizing efficient execution of ongoing clinical studies in the Company's PALISADE Program for fasedienol for the acute treatment of social anxiety disorder. The Company expects topline results from its PALISADE-4 Phase 3 trial in the first half of 2026 and expects cash runway into 2027.
In connection with the reduction in its workforce, affected employees may receive cash severance and temporary healthcare coverage if they are eligible for and elect such coverage and enter into an effective separation agreement, which will include a general release of claims against the Company. The Company expects that the costs incurred will be immaterial. The Company may also incur additional costs not currently contemplated due to events that may occur because of, or that are associated with, the reduction in its workforce.
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