BUZZ-Vistagen cuts 20% of staff to extend cash runway, shares fall
Reuters03-11
BUZZ-Vistagen cuts 20% of staff to extend cash runway, shares fall
** Shares of drug developer Vistagen TherapeuticsVTGN.O falls 3% to $0.60 premarket
** Co says it cut 20% of its workforce on March 5 to manage cash and support its Palisade program clinical studies
** Expects cash runway to now extend into 2027
** Palisade program includes studies of its experimental nasal spray for mental health conditions, aiming to offer faster-acting treatment options - VTGN
** Co says the job cuts will have immaterial costs and affected employees may receive cash severance and temporary healthcare coverage
** VTGN fell ~66% in 2025
(Reporting by Sahil Pandey in Bengaluru)
((Sahil.Pandey@thomsonreuters.com))
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