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Friday 6 November 2026
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VistaGen Therapeutics, Inc.
VTGN Healthcare Biotechnology
VistaGen Therapeutics, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $1.3 million, up 161.1% from fiscal 2025.
- Revenue
- +504.9%
- EPS
- +36.2%
- Free cash flow
- +22.2%
Quarter to June 2026, against a year earlier
0.17
0.00
0.00%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to March
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Jun ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 1 | — | — | — | 1 | 1 | 0 | 1 | 0 | 1 | 3 | +0.2% | 2 | 2 | 2 | +10.2% | |
| Gross margin, % | 100.00 | 0.00 | 0.00 | 0.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 0.0 pt | ||||||
| EBT | (10) | (14) | (25) | (21) | (18) | (48) | (59) | (29) | (51) | (70) | (68) | +23.7% | ||||||
| EBT margin, % | (820.25) | 0.00 | 0.00 | 0.00 | (1,645.86) | (4,306.88) | 26,097.80 | (2,759.21) | (10,578.40) | (5,490.78) | (2,703.44) | (4,670.5) pt | ||||||
| Net income | (10) | (14) | (25) | (21) | (18) | (48) | (59) | (29) | (51) | (70) | (68) | +23.7% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 4.98 | 0.00 | 0.00 | 0.00 | 0.38 | 0.17 | (0.03) | 0.06 | 0.02 | 0.03 | 0.06 | (42.7%) | |||||
| Earnings | (46.25) | (33.63) | (27.03) | (15.01) | (14.71) | (7.51) | (8.51) | (1.52) | (1.67) | (1.83) | (1.66) | (30.2%) | ||||||
| Cash flow | (28.96) | (19.59) | (15.27) | (10.79) | (4.21) | (6.86) | (7.14) | (1.33) | (1.36) | (1.74) | (1.45) | (26.8%) | ||||||
| Capex | (0.95) | 0.00 | (0.18) | 0.00 | (0.10) | (0.03) | (0.03) | 0.00 | (0.01) | 0.00 | 0.00 | (45.6%) | ||||||
| Free cash flow | (29.91) | (19.59) | (15.46) | (10.79) | (4.31) | (6.89) | (7.17) | (1.34) | (1.37) | (1.75) | (1.45) | (27.1%) | ||||||
| Book value | 2.46 | 14.95 | 7.44 | (3.92) | 32.07 | 9.81 | 1.74 | 5.90 | 2.28 | 0.93 | 0.57 | (10.2%) | ||||||
| Shares, m | 0 | 0 | 1 | 1 | 3 | 7 | 7 | 19 | 31 | 38 | 40 | +74.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | 7.68 | — | — | — | 78.36 | 221.39 | 0.00 | 155.56 | 158.83 | 17.10 | 2.92 | 91.3 | ||||||
| P/B | 24.11 | — | — | — | 1.99 | 3.79 | 2.15 | 1.45 | 1.10 | 0.61 | 0.30 | 5.0 | ||||||
| EV/Sales | 10.48 | — | — | — | 39.26 | 169.78 | (77.97) | 51.37 | 10.33 | (12.13) | (6.44) | 27.3 | ||||||
| EV/FCF | (2.69) | — | — | — | (7.44) | (4.14) | (0.35) | (2.11) | (0.12) | 0.23 | 0.26 | (2.4) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (7) | (9) | (15) | (16) | (12) | (45) | (50) | (26) | (42) | (66) | (62) | +27.9% | |||||
| Capex | 0 | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (5.0%) | ||||||
| Free cash flow | (8) | (9) | (15) | (16) | (12) | (45) | (50) | (26) | (42) | (67) | (62) | +27.5% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 2 | 10 | 11 | (1) | 100 | 65 | 13 | 116 | 69 | 34 | 23 | +37.0% | |||||
| Net debt | (3) | (10) | (13) | (1) | (103) | (68) | (17) | (119) | (80) | (45) | (32) | +35.7% | ||||||
| Shareholders’ equity | 1 | 7 | 7 | (6) | 92 | 65 | 12 | 114 | 70 | 36 | 24 | +56.9% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (494.41) | (207.80) | (203.48) | (222.78) | (74.21) | (53.25) | (123.78) | (40.57) | (49.44) | (104.86) | (129.22) | +389.5 pt | |||||
| ROIC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | 980.11 | (414.00) | (367.99) | (3,294.60) | (98.14) | (62.17) | (154.30) | (46.47) | (55.68) | (131.59) | (166.46) | (1,111.7) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 9 | 9 | 9 | 9 | 21 | 36 | 34 | 40 | 57 | 41 | — | +18.4% | |||||
| Revenue/emp, $m | 0.14 | 0.00 | 0.00 | 0.00 | 0.05 | 0.03 | (0.01) | 0.03 | 0.01 | 0.03 | — | (15.4%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Mar 2026 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
VistaGen Therapeutics, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ACTU Actuate Therapeutics, Inc. | $18.0M | — (loss-making) | — | — | n/m | −5.54% (below 0%: shrinking) | — | 0.00% | Compare |
| LEXX Lexaria Bioscience Corp. | $8.8M | — (loss-making) | — (loss-making) | −89.12% (below 0%: shrinking) | n/m | +53.90% (above 0%: growing) | 100.00% | 0.00% | Compare |
| NKGN NKGen Biotech, Inc. | $8.8M | — (loss-making) | — | — | n/m | +28.68% (above 0%: growing) | 100.00% | 0.00% | Compare |
| LTRN Lantern Pharma Inc. | $7.9M | — (loss-making) | — | — | n/m | +25.31% (above 0%: growing) | 0.00% | 0.00% | Compare |
| TOVX Theriva Biologics, Inc. | $7.7M | — (loss-making) | — | +33.08% (above 0%: growing) | n/m | +34.69% (above 0%: growing) | 100.00% | 0.00% | Compare |
| CLGN CollPlant Biotechnologies Ltd. Sponsored ADR | $7.5M | — (loss-making) | — (loss-making) | −39.66% (below 0%: shrinking) | n/m | +5.08% (above 0%: growing) | (422.22%) | (2,437.96%) | Compare |
| VTGN VistaGen Therapeutics, Inc. | $7.3M | — (loss-making) | — (loss-making) | +504.92% (above 0%: growing) | n/m | +22.23% (above 0%: growing) | 100.00% | (904.34%) | |
| SNGX Soligenix Inc. | $7.3M | — (loss-making) | — (loss-making) | −98.89% (below 0%: shrinking) | n/m | +37.83% (above 0%: growing) | 0.00% | 0.00% | Compare |
| MTVA MetaVia Inc. | $7.2M | — (loss-making) | — | — | n/m | −22.42% (below 0%: shrinking) | — | 0.00% | Compare |
| Median of peers | $7.8M | — | — | −64.39% | — | +27.00% | 50.00% | 0.00% |
Pay and ownership Proxy statement filed 31 July 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2026 | 1.21m | 132.45k | 1.66 |
| 2025 | 2.48m | 2.06m | 7.25 |
| 2024 | 947.92k | 1.18m | 8.42 |
Ownership
Directors and executive officers, together
2.93%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement