Vistagen Faces Securities Class Action After Phase 3 Failure as Law Firms Press Deadline
Investors face a March 16, 2026 cutoff to seek lead-plaintiff appointment in the Northern District of California case.
Overview
- Vistagen disclosed on December 17, 2025 that its PALISADE-3 Phase 3 study of intranasal fasedienol for social anxiety disorder failed to meet its primary endpoint and showed no treatment differences on secondary measures.
- Following the announcement, Vistagen’s shares dropped more than 80%, falling from $4.36 on December 16 to $0.86 on December 17, 2025.
- A federal securities class action has been filed on behalf of investors who bought Vistagen stock between April 1, 2024 and December 16, 2025.
- The complaint alleges the company and certain officers issued overly positive statements and concealed material adverse facts about the PALISADE-3 trial.
- Plaintiff firms including Faruqi & Faruqi, The Gross Law Firm, Bernstein Liebhard, and Levi & Korsinsky are soliciting investors and highlighting the March 16, 2026 lead-plaintiff deadline.