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Vistagen cuts 31% of workforce to save $3.2M annually, incurring $1.0M severance
VTGNVistagen Therapeutics, Inc.
Vistagen Therapeutics implemented a Board-approved reduction in workforce by approximately 31%, retaining core clinical, regulatory, technical, and corporate capabilities required for U.S. registration-directed Phase 3 development of fasedienol, its lead candidate for social anxiety disorder. The company estimates it will incur severance and termination costs of approximately $1.0 million. This restructuring is intended to reduce operating expenses, preserve capital with cost efficiencies, and align the workforce size with late clinical-stage priorities, expected to save approximately $3.2 million in salary and benefits annually. Vistagen Therapeutics operates as a clinical-stage biopharmaceutical company developing treatments for psychiatric disorders.