Vistagen Therapeutics Inc. Common Stock (VTGN)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as Graham would: first ask whether the business is sound and earns owner earnings. Vistagen is not yet an operating business in the traditional sense. In FY2026, the year ended 2026-03-31, it reported revenue of $1.3M and a net loss of $69.7M; in FY2025 revenue was $486,000 and net loss was $51.4M. The latest filing, fiscal Q1 2027 ended 2026-06-30, showed revenue of $1.5M but a net loss of $13.0M and diluted EPS of -$0.30. Trailing free cash flow was -$62.4M, and the FairStock-calculated FCF yield was -669.4%. That is heavy cash consumption for a $9.3M market cap. The balance sheet has low leverage—D/E of 0.03—but FairStock's Piotroski score is 1/9 and Altman Z-Score is -19.13, signaling financial fragility. The competitive moat is unproven; value depends on Fasedienol in Phase III for social anxiety and Itruvone in Phase IIa. At the 2026-10-13 close of $0.21, FairStock's P/B is 0.38, so it screens cheap versus book, but P/E is negative because there are no earnings. The Peter Lynch category is none, since it lost money in each of the last four years. This is speculation on clinical outcomes, not a Graham-style bargain with demonstrated earning power.

In plain English: Vistagen is a small clinical-stage drug company working on nasal spray treatments for anxiety and other brain-related conditions. It has no approved products and is not profitable; its latest reported quarter showed little revenue and a large loss. At about 21 cents a share, the price may look very low, but because the company loses money and burns cash, the numbers do not clearly show whether it is cheap or expensive.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2027 10-Q (period ended 2026-06-30) · fiscal Q3 2026 10-Q (period ended 2025-12-31) · fiscal Q2 2026 10-Q (period ended 2025-09-30) · fiscal Q1 2026 10-Q (period ended 2025-06-30) · FY2026 10-K (period ended 2026-03-31) · FY2025 10-K (period ended 2025-03-31) · FY2024 10-K (period ended 2024-03-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer