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VistaGen Therapeutics, Inc. (VTGN) 10-Year Financial Performance & Capital Metrics

VTGN • • Industrial / General
HealthcareBiotechnologyNeurology & CNS DisordersPsychiatric & CNS Disorders
AboutVistaGen Therapeutics, Inc., a clinical-stage biopharmaceutical company, engages in developing and commercializing various medicines with the potential to care for anxiety, depression, and other disorders of the central nervous system (CNS). The company's CNS pipeline includes PH94B, a rapid-onset neuroactive nasal spray, which is in Phase III development for the acute treatment of anxiety in adults with social anxiety disorder. Its PH94B product candidature also has potential to treat a range of anxiety disorders, including adjustment disorder with anxiety, postpartum anxiety, post-traumatic stress disorder, preprocedural anxiety, and panic disorders. The company's CNS pipeline also comprises PH10, a rapid-onset neuroactive nasal spray, which is in preparation for Phase 2B clinical development as a stand-alone treatment for major depressive disorder (MDD); and AV-101, an oral N-methyl-D-aspartate receptor antagonist, which is in development in combination with oral probenecid as a potential treatment of levodopa-induced dyskinesia, MDD, neuropathic pain, and suicidal ideation. It has contract research and development agreement with Cato Research Ltd.; license agreement with Pherin Pharmaceuticals, Inc.; and license and collaboration agreement with EverInsight Therapeutics Inc. VistaGen Therapeutics, Inc. was founded in 1998 and is headquartered in South San Francisco, California.Show more
  • Revenue $486K -54.3%
  • EBITDA -$55M -70.5%
  • Net Income -$51M -75.1%
  • EPS (Diluted) -1.67 -9.9%
  • Gross Margin 100%
  • EBITDA Margin -11386.42% -273.3%
  • Operating Margin -11517.08% -271.1%
  • Net Margin -10579.84% -283.4%
  • ROE -55.68% -19.8%
  • ROIC -4181.25%
  • Debt/Equity 0.02 +15.6%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Healthy 5Y average net margin of 1361.5%
  • ✓Trading at only 0.3x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 1/9
  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 1 (bottom 1%)
  • ✗Shares diluted 58.7% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y-24.04%
TTM-17.67%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-57.3%

EPS CAGR

10Y-
5Y-
3Y-
TTM-23.23%

ROCE

10Y Avg-268.28%
5Y Avg-67.06%
3Y Avg-82.18%
Latest-58.84%

Peer Comparison

Psychiatric & CNS Disorders
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Profit & Loss

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Sales/Revenue+01.25M0001.09M1.11M-227K1.06M486K
Revenue Growth %---1%---0.02%-1.2%5.69%-0.54%
Cost of Goods Sold+53.5K080.7K91.2K103.1K00000
COGS % of Revenue----------
Gross Profit+01.25M00-103.1K1.09M1.11M-227K1.06M486K
Gross Margin %-1%---1%1%1%1%1%
Gross Profit Growth %---1%--11.57%0.02%-1.2%5.69%-0.54%
Operating Expenses+17.85M11.5M14.2M24.53M19.87M19.02M48.89M59.04M34.09M56.46M
OpEx % of Revenue-9.2%---17.46%44.09%-260.09%32.03%116.17%
Selling, General & Admin13.92M5.87M6.44M7.43M6.55M7.1M13.25M14.66M14.06M17.08M
SG&A % of Revenue-4.69%---6.51%11.95%-64.6%13.22%35.15%
Research & Development3.93M5.2M7.76M17.1M13.33M11.93M35.41M44.38M20.02M39.38M
R&D % of Revenue-4.16%---10.95%31.93%-195.49%18.82%81.02%
Other Operating Expenses-2.3K426.8K0-48.7K0-400232K000
Operating Income+-17.85M-10.25M-14.2M-24.56M-19.97M-17.93M-47.78M-59.27M-33.02M-55.97M
Operating Margin %--8.2%----16.46%-43.09%261.09%-31.03%-115.17%
Operating Income Growth %-1.63%0.43%-0.39%-0.73%0.19%0.1%-1.66%-0.24%0.44%-0.7%
EBITDA+-17.8M-10.19M-14.12M-24.47M-19.87M-17.46M-47.07M-58.74M-32.45M-55.34M
EBITDA Margin %--8.15%----16.02%-42.45%258.75%-30.5%-113.86%
EBITDA Growth %-1.65%0.43%-0.39%-0.73%0.19%0.12%-1.7%-0.25%0.45%-0.71%
D&A (Non-Cash Add-back)53.5K54.9K80.7K91.2K103.1K477.6K711.1K532K568K635K
EBIT-17.85M-9.82M-14.33M-24.56M-20.76M-17.92M-47.76M-59.27M-33.02M-55.97M
Net Interest Income+0-4.6K0-8K30K2K20K26K3.35M4.56M
Interest Income000045K15K20K49K3.35M4.56M
Interest Expense777K5K8.9K8K15K13K023K00
Other Income/Expense-29.37M-4.6K-143.9K-30.7K-796.9K2.2K19.9K26K3.66M4.56M
Pretax Income+-47.22M-10.25M-14.34M-24.59M-20.77M-17.93M-47.76M-59.24M-29.36M-51.41M
Pretax Margin %--8.2%----16.46%-43.07%260.98%-27.59%-105.78%
Income Tax+2.3K2.4K2.4K2.6K2.6K2.6K3.4K6K4K7K
Effective Tax Rate %1%1%1%1%1%1%1%1%1%1%
Net Income+-47.22M-10.26M-14.35M-24.59M-20.77M-17.93M-47.76M-59.25M-29.36M-51.42M
Net Margin %--8.2%----16.46%-43.07%261%-27.6%-105.8%
Net Income Growth %-2.4%0.78%-0.4%-0.71%0.16%0.14%-1.66%-0.24%0.5%-0.75%
Net Income (Continuing)-47.22M-10.26M-14.35M-24.59M-20.77M-17.93M-47.76M-59.25M-29.36M-51.42M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+-801.27-40.85-30.98-25.83-14.21-14.74-7.38-8.51-1.52-1.67
EPS Growth %-1.54%0.95%0.24%0.17%0.45%-0.04%0.5%-0.15%0.82%-0.1%
EPS (Basic)-801.28-40.85-30.98-25.83-14.21-14.74-7.38-8.51-1.52-1.67
Diluted Shares Outstanding58.93K251.05K463K952.08K1.46M2.87M6.6M6.96M19.35M30.71M
Basic Shares Outstanding58.93K251.05K463K952.08K1.46M2.87M6.6M6.96M19.35M30.71M
Dividend Payout Ratio----------

Balance Sheet

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Current Assets+855.3K3.38M11.02M13.65M1.58M104.12M71M17.51M120.67M82.08M
Cash & Short-Term Investments428.5K2.92M10.38M13.1M1.36M103.11M68.14M16.64M119.17M80.48M
Cash Only428.5K2.92M10.38M13.1M1.36M103.11M68.14M16.64M119.17M67.13M
Short-Term Investments00000000013.35M
Accounts Receivable000300K040.6K2.75M802.7K00
Days Sales Outstanding-----13.6903.79-1.29K--
Inventory000230.4K000000
Days Inventory Outstanding---922.11------
Other Current Assets399.8K0556.5K154.6K117.9K159.9K-2.22M66.3K01.59M
Total Non-Current Assets+134.5K334.3K255.2K360.5K4.19M4.16M3.65M3.58M2.98M2.27M
Property, Plant & Equipment87.6K286.5K207.4K312.7K3.79M3.59M3.08M2.77M2.25M1.81M
Fixed Asset Turnover-4.36x---0.30x0.36x-0.08x0.47x0.27x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments0000000000
Other Non-Current Assets46.9K47.8K47.8K47.8K402.9K576.8K569.1K815K726K454K
Total Assets+989.8K3.71M11.28M14.01M5.77M108.28M74.64M21.09M123.65M84.34M
Asset Turnover-0.34x---0.01x0.01x-0.01x0.01x0.01x
Asset Growth %2.67%2.75%2.04%0.24%-0.59%17.76%-0.31%-0.72%4.86%-0.32%
Total Current Liabilities+1.79M1.37M1.46M2.8M2.77M4.19M5.77M4.57M5.12M12.61M
Accounts Payable936K867.3K1.2M1.05M1.84M838.3K2.76M2.47M1.55M653K
Days Payables Outstanding6.39K-5.41K4.22K6.5K-----
Short-Term Debt43.6K54.8K53.9K57.3K56.5K00105K00
Deferred Revenue (Current)000001000K1000K714K01000K
Other Current Liabilities00000066.2K337K791K3.36M
Current Ratio0.48x2.47x7.56x4.87x0.57x24.85x12.32x3.83x23.55x6.51x
Quick Ratio0.48x2.47x7.56x4.79x0.57x24.85x12.32x3.83x23.55x6.51x
Cash Conversion Cycle----------
Total Non-Current Liabilities+2.17M1.73M2.9M4.14M8.73M12.11M4.16M4.43M4.24M1.34M
Long-Term Debt27.2K000000000
Capital Lease Obligations011.9K9.3K6.3K3.72M3.35M2.61M2.12M1.57M948K
Deferred Tax Liabilities-55.5K000000000
Other Non-Current Liabilities2.15M1.72M2.89M4.13M5.01M6.27M002.67M0
Total Liabilities3.97M3.1M4.36M6.94M11.5M16.3M9.93M9.01M9.37M13.95M
Total Debt+71.9K69.1K65.8K66.6K4.09M3.72M3.04M2.71M2.12M1.51M
Net Debt-356.6K-2.85M-10.31M-13.03M2.74M-99.39M-65.1M-13.93M-117.05M-65.62M
Debt / Equity-0.11x0.01x0.01x-0.04x0.05x0.22x0.02x0.02x
Debt / EBITDA----------
Net Debt / EBITDA----------
Interest Coverage-22.97x-2049.70x-1595.46x-3069.54x-1331.63x-1379.52x--2576.87x--
Total Equity+-2.98M615.8K6.92M7.08M-5.73M91.98M64.72M12.08M114.29M70.39M
Equity Growth %0.86%1.21%10.23%0.02%-1.81%17.05%-0.3%-0.81%8.46%-0.38%
Book Value per Share-50.522.4514.947.43-3.9232.049.811.745.902.29
Total Shareholders' Equity-2.98M615.8K6.92M7.08M-5.73M91.98M64.72M12.08M114.29M70.39M
Common Stock2.6K9K23.1K42.8K49.3K180.8K6.9K7K27K29K
Retained Earnings-131.74M-142M-156.54M-181.13M-201.91M-219.84M-267.6M-326.85M-356.21M-407.63M
Treasury Stock-3.97M-3.97M-3.97M-3.97M-3.97M-3.97M-3.97M-3.97M-3.97M-3.97M
Accumulated OCI-6.5K-4K-4K-4K000005K
Minority Interest0000000000

Cash Flow

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operations+-4.81M-7.26M-9.06M-14.53M-15.76M-12.07M-45.26M-49.72M-25.81M-42.1M
Operating CF Margin %--5.81%----11.08%-40.81%219.01%-24.26%-86.62%
Operating CF Growth %-0.74%-0.51%-0.25%-0.6%-0.08%0.23%-2.75%-0.1%0.48%-0.63%
Net Income-47.22M-10.26M-14.35M-24.59M-20.77M-17.93M-47.76M-59.25M-29.36M-51.42M
Depreciation & Amortization53.5K54.9K80.7K91.2K103.1K477.6K711.1K532K568K635K
Stock-Based Compensation4.04M851.3K2.34M3.44M3.82M2.31M3.48M3.34M2.18M4.32M
Deferred Taxes36.06M751.5K439K145.5K000000
Other Non-Cash Items2.78M2.02M1.75M4.66M932.8K0232K3.64M6K-389K
Working Capital Changes-521.5K-679.4K672.9K1.72M160.3K3.08M-1.92M2.03M793K4.76M
Change in Receivables000-300K300K-40.6K0000
Change in Inventory000-20.77M000000
Change in Payables-547.2M-451.7M135M22.7M001.69B0522K5.68M
Cash from Investing+-26.3K-239.1K-1.6K-174K0-275.4K-200.4K-740K-61K-13.15M
Capital Expenditures-26.3K-239.1K-1.6K-174K0-275.4K-200.4K-212K-61K-191K
CapEx % of Revenue-0.19%---0.25%0.18%-0.93%0.06%0.39%
Acquisitions----------
Investments----------
Other Investing0-239.1M-1.6M-174M000000
Cash from Financing+5.19M9.99M16.52M17.42M4.01M114.1M10.48M-1.04M128.4M3.21M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0-1.26B-1.03B-1.14B00-945.1M000
Share Repurchases----------
Other Financing5.31M1.27B1.05B1.16B710K5.01M951.15M63K8K201K
Net Change in Cash----------
Free Cash Flow+-4.83M-7.5M-9.06M-14.7M-15.76M-12.35M-45.46M-49.93M-25.87M-42.29M
FCF Margin %--6%----11.33%-40.99%219.95%-24.32%-87.01%
FCF Growth %-0.75%-0.55%-0.21%-0.62%-0.07%0.22%-2.68%-0.1%0.48%-0.63%
FCF per Share-82.04-29.88-19.57-15.44-10.78-4.30-6.89-7.17-1.34-1.38
FCF Conversion (FCF/Net Income)0.10x0.71x0.63x0.59x0.76x0.67x0.95x0.84x0.88x0.82x
Interest Paid12.7K16.6K8.9K8K14.8K13.3K300000
Taxes Paid2.4K2.4K2.4K2.6K2.6K2.6K3.4K000

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)--1665.39%-380.91%-351.49%-3087.23%-41.59%-60.96%-154.3%-46.47%-55.68%
Return on Invested Capital (ROIC)----------4181.25%
Gross Margin-100%---100%100%100%100%100%
Net Margin--820.44%----1646.09%-4307.19%26100.44%-2759.59%-10579.84%
Debt / Equity-0.11x0.01x0.01x-0.04x0.05x0.22x0.02x0.02x
Interest Coverage-22.97x-2049.70x-1595.46x-3069.54x-1331.63x-1379.52x--2576.87x--
FCF Conversion0.10x0.71x0.63x0.59x0.76x0.67x0.95x0.84x0.88x0.82x
Revenue Growth---100%---1.78%-120.47%568.72%-54.32%

Revenue by Segment

2022
License1.11M
License Growth-

Frequently Asked Questions

Growth & Financials

VistaGen Therapeutics, Inc. (VTGN) reported $0.7M in revenue for fiscal year 2025. This represents a 46% decrease from $1.3M in 2012.

VistaGen Therapeutics, Inc. (VTGN) saw revenue decline by 54.3% over the past year.

VistaGen Therapeutics, Inc. (VTGN) reported a net loss of $62.2M for fiscal year 2025.

Dividend & Returns

VistaGen Therapeutics, Inc. (VTGN) has a return on equity (ROE) of -55.7%. Negative ROE indicates the company is unprofitable.

VistaGen Therapeutics, Inc. (VTGN) had negative free cash flow of $53.1M in fiscal year 2025, likely due to heavy capital investments.

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