Vistagen appoints Elissa Cote as Chief Corporate Development Officer

SOUTH SAN FRANCISCO - Vistagen (NASDAQ:VTGN), a late clinical-stage biopharmaceutical company with a market capitalization of approximately $61 million, has appointed Elissa Cote as Chief Corporate Development Officer, according to a press release statement issued Monday. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 6.5x, though it faces challenges with cash burn.

In her new role, Cote will lead the evaluation of strategic opportunities to advance the company’s pherine platform and cultivate potential strategic partnerships. She brings nearly 30 years of experience in business development, enterprise strategy, and global partnerships to the position. With analysts setting price targets between $12 and $15, and InvestingPro analysis suggesting the stock is currently undervalued, her appointment comes at a crucial time for the company’s growth strategy.

Prior to joining Vistagen, Cote served as fractional Chief Business Officer and strategic advisor to several biopharmaceutical clients since 2022. She previously held senior roles at Mallinckrodt Pharmaceuticals, including Chief Strategy and Business Development Officer, and has worked at Sucampo Pharmaceuticals and MedImmune Inc.

"Elissa is a highly respected executive with a strong track record of driving growth, building partnerships, and developing commercial strategies for biotech and pharmaceutical companies," said Shawn Singh, President and Chief Executive Officer of Vistagen.

As part of her compensation package, Cote received an incentive option to purchase up to 150,000 shares of Vistagen’s common stock. The option will have an exercise price equal to the closing price of the company’s common stock on June 23, 2025, with 25% vesting after one year and the remainder vesting monthly over the following 36 months.

Vistagen’s neuroscience pipeline consists of five investigational pherine product candidates targeting six disorders. Pherines are agonists on peripheral receptors on human nasal chemosensory neurons designed to rapidly activate nose-to-brain neurocircuits without requiring systemic absorption.

The company is developing treatments for conditions including social anxiety disorder, major depressive disorder, and vasomotor symptoms associated with menopause. While the company reported a negative EBITDA of $55.8 million in the last twelve months, InvestingPro analysis reveals several additional insights about the company’s financial health and market position. Subscribers can access the comprehensive Pro Research Report, which provides detailed analysis of VTGN along with 1,400+ other US stocks.

In other recent news, VistaGen Therapeutics reported a net loss of $51.4 million for Q1 2025, with research and development (R&D) expenses surging to $39.4 million, up from $20 million the previous year. Despite the increased expenses, the company maintains a solid cash position of $80.5 million. VistaGen remains focused on its innovative pipeline, particularly the ongoing Phase 3 trials for their product candidate, fasedienol, in treating social anxiety disorder. The PALISADE III trial is expected to yield results in the fourth quarter of 2025, while the PALISADE IV trial has been delayed to the first half of 2026 due to enhanced patient screening processes. Stifel reiterated its buy rating on VistaGen, maintaining a $12.00 price target, citing the company’s progress in clinical trials and the potential commercial opportunity in treating social anxiety disorder. The firm believes VistaGen has a credible chance of success with either of the ongoing trials, which could lead to regulatory approval. Additionally, VistaGen is preparing for a U.S. Investigational New Drug application for PH-80, targeting women’s health issues. The company continues to engage with regulatory bodies to ensure the progress of its clinical-stage product candidates.

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