VistaGen Therapeutics surged nearly 1100% in morning trading.
VistaGen Therapeutics said the Phase 3 study of its fasedienol nasal spray as a treatment for social anxiety disorder met its primary endpoint.
The San Francisco-based biopharmaceutical company said the trial evaluated the efficacy, safety and tolerability of fasedienol and, in a public speaking challenge, demonstrated a statistically significant difference in average score of Subjective Units of Distress Scale compared with a placebo.
The trial also met its secondary endpoint and was well-tolerated, with a favorable safety profile consistent with all prior trials.
Researchers will now be looking to conduct a study involving multiple administrations of fasedienol over several weeks.