VistaGen (NASDAQ: VTGN), a biopharmaceutical company developing new generation medicines with the potential to go beyond the current standard of care for anxiety, depression and other central nervous system (“CNS”) disorders, today announced the initiation of a phase 2A clinical trial to evaluate the efficacy, safety and tolerability of PH94B as a potential treatment of anxiety in adults with adjustment disorder with anxiety (“AjDA”). In parallel with advancing its ongoing PALISADE phase 3 clinical program for PH94B in the acute treatment of anxiety in adults with social anxiety disorder (“SAD”), VistaGen plans to explore PH94B’s potential in additional anxiety disorders through a series of small phase 2A trials, the first of which is in AjDA. “As we continue to advance ongoing phase 3 clinical development of PH94B in our PALISADE phase 3 program in social anxiety disorder, we are excited to launch our phase 2A clinical program to explore PH94B’s potential in multiple additional anxiety disorders with unmet need,” said Shawn Singh, chief executive officer of VistaGen. “There has been a significant shift in mental health since early last year. Emotional stress and impaired functioning as a result of anxiety-provoking stressors brought on by sudden changes in health, safety, economic and social circumstances, including the diverse impacts of the COVID-19 pandemic, have directly or indirectly affected hundreds of millions of individuals around the world and may have led to a considerable increase in the prevalence of adjustment disorder with anxiety. We believe the impact of the pandemic on mental health will be long-term and varied across a wide range of anxiety disorders, and we are committed to becoming part of the solution for people who need to find help. Expanding on our ongoing efforts to address the alarming prevalence of social anxiety disorder, the initiation of this exploratory phase 2A study in adjustment disorder with anxiety is an exciting next step toward our goal.”

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About VistaGen Therapeutics Inc.

VistaGen is a biopharmaceutical company committed to developing and commercializing innovative medicines with the potential to go beyond the current standard of care for anxiety, depression and other CNS disorders. Each of VistaGen’s drug candidates has a differentiated potential mechanism of action, has been well-tolerated in all clinical studies to date and has therapeutic potential in multiple CNS markets. For more information, please visit www.VistaGen.com and connect with VistaGen on Twitter, LinkedIn, Instagram and Facebook.

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