Is Vistagen Therapeutics going out of business?

VISTAGEN THERAPEUTICS, INC. (VTGN) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

VISTAGEN THERAPEUTICS, INC. (VTGN) scores 28 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: ROIC: -1019.88%

Five questions, kept separate

Survival - Critical

1-3 mo of estimated runway from 2026-06-30, based on $17.0M of cash and short-term investments against $114M of annual burn. Adjusted shares outstanding increased 34.6% over the comparison year.

Business quality - Pre-commercial

Operating margins cannot grade a pipeline; Survival and clinical evidence remain the relevant lenses here.

Trajectory - Clinical progress unavailable

Fundamentals can show funding and burn, but not whether the clinical pipeline is advancing.

Valuation - Reasonable

279.3% net-cash backing support a reasonable pre-commercial Valuation assessment.

Event risk - Evidence unavailable

No active asserted adverse event was found in the available filing evidence. The filing evidence is stale or incomplete, so this is not proof of absence.

What the rules read

• ROIC: -1019.88%
• Shares dilution YoY: 34.60% (YoY)
• Debt / Equity: No financial debt (leases only)
• Return on Assets: -195.00%
• Cash Burn Deceleration: 71.46% QoQ improvement (Rapid improvement)
• Revenue per Asset Efficiency: 332.29% QoQ (Strong monetization)
• Revenue growth YoY: 504.92% (YoY) - Early-Stage Surge (low base)
• FCF margin: -996.41% (Inv. Mode)
• Price / Sales: 8.4x (see Valuation)
• Price / Earnings: Unprofitable (see Valuation)
• Effective Tax Rate: 0.00% (loss-making)
• Asset Growth Velocity: -48.15% YoY

Read from filings through 2026-08-14.

Price as of 2026-09-07.