VistaGen Therapeutics (NASDAQ: VTGN) Featured Research Report

3 A EGIS C APITAL C ORP. Key risks: As we see it, the risk profile of VistaGen is similar to other clinical-stage biotechnology companies, and includes: (1) The potential for clinical trial failure and/or unfavorable data from PH94B, PH10, and/or AV- 101 across one or multiple indications. (2) Possibility for dilution that could result from accessing external sources of financing as is frequently the case amongst development-stage companies. (3) Competition is also a risk, including from differing treatment modalities targeting the same indications. VistaGen Therapeutics, Inc. October 8, 2020