VistaGen Therapeutics, Inc. (VTGN) announced that Nick Tressler will assume the role of Chief Financial Officer effective immediately. Tressler brings 20 years of life‑science finance experience, most recently as CFO of DYNEX Technologies, and has led capital‑raising efforts that raised over $1.2 billion for multiple biopharmaceutical companies. His appointment is intended to strengthen VistaGen’s financial discipline as the company advances its late‑stage fasedienol program and seeks additional capital to support ongoing clinical development.
VistaGen’s financial position remains challenging. The company reported a net loss of $1.8 million in the most recent quarter, driven by a $3.5 million cash burn that exceeds its $2.7 million operating cash flow. A “going concern” warning was issued in the Q2 2025 earnings release, citing the need for additional financing within the next 12 months. VistaGen’s market capitalization is approximately $1.2 billion, and its free‑cash‑flow margin stands at –12 % year‑over‑year. These figures underscore the urgency of securing new funding to sustain the company’s clinical pipeline.
Tressler’s track record aligns with VistaGen’s immediate needs. At DYNEX, he orchestrated a $650 million equity offering and a $300 million convertible debt issuance, achieving a 15 % reduction in cost of capital. He also managed multi‑million‑dollar clinical‑trial budgets, ensuring compliance with FDA and CMS reporting requirements. By applying similar financial controls, Tressler is expected to tighten VistaGen’s budgeting process, improve cash‑flow forecasting, and negotiate more favorable terms for future financing rounds.
VistaGen’s flagship product, fasedienol, is in Phase 3 PALISADE trials. PALISADE‑3 is slated to report topline data in Q4 2025, with PALISADE‑4 expected in the first half of 2026. Positive outcomes could enable a New Drug Application submission in 2027, potentially unlocking a $1.5 billion market opportunity. The CFO’s role will be critical in aligning capital needs with these milestones, ensuring that the company can fund trial completion and post‑approval commercialization without compromising operational stability.
Shawn Singh, President and CEO, emphasized that Tressler’s “financial and strategic acumen” will be instrumental in “accelerating into our next phase.” Tressler echoed this sentiment, stating that he is “honored to join VistaGen at a pivotal moment” and that he will focus on “long‑term value creation for shareholders” through disciplined capital management and strategic investment in the fasedienol pipeline.
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