NEW YORK, NY— May 13, 2016—VistaGen Therapeutics, Inc. (OTCQB: VSTA) (VistaGen or the Company), a clinical-stage biopharmaceutical company dedicated to developing and bringing to market innovative product candidates for patients with diseases and disorders involving the central nervous system, announced Wednesday May 11th the pricing of its public offering of 2,352,942 shares of common stock and warrants to purchase up to 2,352,942 shares of common stock for aggregate gross proceeds of approximately $10 million. The underwriters have been granted a 45-day option to purchase up to 352,942 additional shares of common stock and/or warrants to purchase up to 352,942 additional shares to cover over-allotments, if any.
VistaGen also began trading on NASDAQ under the symbol “VTGN.”
It is the intent of VistaGen to use the net proceeds from this offering to fund research and development, including Phase 2 clinical development of its oral prodrug, AV-101, initially for the adjunctive treatment of major depressive disorder (MDD) in patients with an inadequate response to standard antidepressants, as well as other general capital needs.
Subject to customary closing conditions, the offering is expected to close on May 16, 2016.
WallachBeth Capital LLC is acting as joint book-running manager for the offering.
About VistaGen Therapeutics, Inc.
VistaGen Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to developing and commercializing innovative product candidates for patients with diseases and disorders involving the CNS. Our lead product candidate, AV-101, is a next generation, orally available prodrug in Phase 2 development, initially for the adjunctive treatment of MDD in patients with an inadequate response to standard antidepressants. AV-101 is currently being evaluated in an ongoing Phase 2a clinical study being conducted by Principal Investigator, Dr. Carlos Zarate, Chief, Section on the Neurobiology and Treatment of Mood Disorders and Chief of Experimental Therapeutics and Pathophysiology Branch at the National Institute of Mental Health, and Clinical Professor of Psychiatry and Behavioral Sciences, at The George Washington University and fully funded by the U.S. National Institutes of Mental Health.
About WallachBeth Capital LLC
WallachBeth Capital is a leading provider of institutional execution services, offering clients a full spectrum of solutions to help them navigate increasingly complex markets. The firm’s expertise includes ETF and equity trading, derivatives, healthcare research and capital markets. Operating on a fully disclosed, agency-only basis, the firm is committed to facilitating all client needs with transparency and integrity. The firm’s website is located at www.wallachbeth.com.
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