VTGN - VistaGen: Patience Could Lead To Significant Upside

• VistaGen Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing a generation of novel medicines for anxiety, depression, and other central nervous system disorders, primarily through nasal sprays.
• VistaGen has three therapeutics in their pipeline across 14 indications. VistaGen's lead therapeutic, PH94B, is an FDA-fast-tracked neuroactive nasal spray aiming to initiate recruitment for a Phase 3 in 2Q2021.
• VistaGen typically operates with a low cash basis (3-year average: $8M), but after Dec 2020s $100M public offering, their runway is 1-3 years or at least through PH94B's NDA.
• In summary, the author projects VistaGen Therapeutics, Inc. as a "buy" at a 5-8 year price target of $101 (+4,206% upside).

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