VistaGen cuts workforce by about 31%, citing focus on Phase 3 fasedienol work

VistaGen Therapeutics disclosed in an 8-K that its board approved a workforce reduction of approximately 31%, effective October 26, 2026. The company said it is keeping the core clinical, regulatory, technical, and corporate staff needed to carry out U.S. registration-directed Phase 3 development of fasedienol, its lead clinical-stage candidate for social anxiety disorder, and to support possible future work on its Phase 2 candidates itruvone for major depressive disorder and refisolone for menopausal hot flashes.¹

According to the filing, the cuts are meant to lower operating costs, help preserve capital, and better match the company's staffing to its priorities as a late-stage clinical company.¹

VistaGen said affected workers may be offered severance pay and short-term health coverage, contingent on eligibility and on signing a separation agreement that releases claims against the company. The company estimates it will record about $1.0 million in severance and termination expenses.¹ It expects the reduced headcount to save roughly $3.2 million a year in salary and benefits costs.¹ VistaGen also cautioned that it could incur other, currently unanticipated costs tied to the layoffs.¹

The filing noted that these cost and savings estimates are projections rather than guaranteed outcomes and could differ materially from the company's current assumptions.¹ The report was signed by Shawn K. Singh, President and Chief Executive Officer, on October 30, 2026.