VistaGen Therapeutics, Inc.
VistaGen Therapeutics, Inc. Q3 FY2026 earnings call
February 12, 2026 · fiscal period ended 2025-12
EPS · actual vs est
Revenue · actual vs est
Summary
Generated 2026-02-12
Management highlights
Shawn Singh discussed the completion of the randomized portion of the PALISADE-3 Phase III trial in social anxiety disorder, implemented refinements in PALISADE-4, worked with collaborators on data analysis using AI/ML, ongoing open-label extensions of PALISADE-3 and -4. The women's health program saw refisolone receive USAN adoption, with plans to submit an IND for refisolone in the first half of 2026. As of December 31, 2025, had $61.8 million in cash, cash equivalents, and marketable securities, and is positioned to complete PALISADE-4 and advance Pherin pipeline preparations.
Guidance
On track with PALISADE-4 and advancing preparations for the Pherin pipeline.
Risks
Forward-looking statements involve risks and uncertainties; actual results could differ. Modifying the SAP plan for PALISADE-4 requires resubmission and alignment with the FDA before database lock and top line results.
Q&A highlights
Q: About PALISADE-3 data curves, was there separation at any time points with fasedienol vs placebo?
A: Top line results released, individual curves not public yet, analysis continues looking at individual respondents and subgroups.
Q: Modifying SAP plan for PALISADE-4, would it require notifying FDA and risk of modifying SAP plan?
A: Any future changes to SAP require resubmission and FDA alignment before database lock and top line results.
Q: Enrollment in PALISADE-4, any impact since December 17?
A: Enrollment has continued as planned and projected.
Q: Regulatory path forward and confidence with PALISADE-4 success or failure?
A: Regulatory outcomes depend on totality of data, weight of evidence, FDA regulations; focused on evolving AI in agency and weight of evidence across program.
Q: How PALISADE-3 outcome could differ PALISADE-4 by amending SAP?
A: Looking at covariates via AI/ML, need FDA alignment for SAP changes, considering all PALISADE studies.
Q: Shares outstanding at end of December vs weighted average?
A: Includes prefunded warrants, weighted average accounts for such factors
Key numbers
Reported versus consensus
Earnings calendar feed
| Metric | Reported | Consensus | Delta | Prior year |
|---|---|---|---|---|
| EPS | $-0.45 | $-0.51 | +11.8% | $-0.46 |
| Revenue | $303,000 | $220,600 | +37.4% | $234,000 |
Transcript
February 12, 2026Full transcript unavailable for redistribution
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