LEVI & KORSINSKY, LLP NOTIFIES INVESTORS OF CLASS ACTION LAWSUIT AGAINST VISTAGEN THERAPEUTICS ALLEGING SECURITIES FRAUD IN DRUG DEVELOPMENT DISCLOSURES

NEW YORK, Jan. 28, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Vistagen Therapeutics, Inc. (NASDAQ: VTGN) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between April 1, 2024 and December 16, 2025.

Click here to learn more about this case

You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

THE COMPANY AND INDUSTRY CONTEXT

Vistagen is a clinical-stage biopharmaceutical company focused on developing therapies for neuropsychiatric and neurological disorders. The company's lead product candidate, an investigational pherine nasal spray, was positioned as a potential breakthrough treatment for anxiety in adults with social anxiety disorder.

Social anxiety disorder affects an estimated 30 million adults in the United States, representing a significant unmet medical need. The condition often leads to substantial impairment in social and occupational functioning, with many patients inadequately served by existing treatment options. There is currently no FDA-approved acute treatment for the condition, making the market opportunity substantial for any company that could successfully develop such a therapy.

The complaint alleges that the Company made materially misleading statements about its Phase 3 clinical trial program, creating an impression that prior positive results and operational enhancements supported a strong likelihood of success for subsequent trials. In reality, the complaint alleges, the defendants knowingly or recklessly omitted risks inherent in the clinical trial design, including elevated placebo responses and site variability that had been observed in earlier studies.

When the trial results were announced in December 2025, revealing that the study did not achieve its primary endpoint, the Company's stock price experienced a dramatic decline. Investors who had purchased shares based on the alleged misrepresentations suffered significant losses.

WHAT YOU CAN DO

If you purchased or acquired shares during the Class Period, you may be entitled to compensation without payment of any out-of-pocket fees or costs.

Get more information or contact Joseph E. Levi, Esq. at [email protected] | (212) 363-7500.

ABOUT LEVI & KORSINSKY, LLP

Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.

SOURCE Levi & Korsinsky, LLP