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8-K - CURRENT REPORT - VistaGen Therapeutics, Inc. | vtgn8k_jan52020.htm |
Exhibit
99.1
VistaGen
Therapeutics Regains Full Compliance with Nasdaq Listing
Requirements
SOUTH SAN FRANCISCO, Calif.,
January 6, 2021 (GLOBE NEWSWIRE) -- VistaGen
Therapeutics, Inc. (NASDAQ: VTGN), a
biopharmaceutical company committed to developing a new generation
of medicines with the potential to go beyond the current standard
of care for anxiety, depression and other central nervous system
(CNS) disorders, announced today that it received notice from The
Nasdaq Stock Market (Nasdaq) on January 5, 2021 that VistaGen has regained compliance with
the minimum bid price requirement under Nasdaq Listing Rule
5550(a)(2) (the Bid Price Rule) for continued listing on The Nasdaq
Capital Market. VistaGen is now in full compliance with all
applicable listing standards, and Nasdaq considers the matter
closed.
Nasdaq
previously notified VistaGen on January 31, 2020, that it
was not in compliance with the Bid Price Rule because its common
stock failed to meet the closing bid price of $1.00 or
more for 30 consecutive business days. In order to regain
compliance with the Bid Price Rule, VistaGen was required to
maintain a minimum closing bid price of $1.00 or more for
at least 10 consecutive trading days. This requirement was met
on January 4, 2021.
About VistaGen
VistaGen Therapeutics, Inc. 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 three 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.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws. These
forward-looking statements involve known and unknown risks that are
difficult to predict and include all matters that are not
historical facts. In some cases, you can identify forward-looking
statements by the use of words such as “may,”
“could,” “expect,” “project,”
“outlook,” “strategy,”
“intend,” “plan,” “seek,”
“anticipate,” “believe,”
“estimate,” “predict,”
“potential,” “strive,” “goal,”
“continue,” “likely,” “will,”
“would” and variations of these terms and similar
expressions, or the negative of these terms or similar expressions.
Such forward-looking statements are necessarily based upon
estimates and assumptions that, while considered reasonable by us
and our management, are inherently uncertain. Our actual results or
developments may differ materially from those projected or implied
in these forward-looking statements. Factors that may cause such a
difference include, without limitation, risks and uncertainties
relating to the impact of the COVID-19 pandemic; market conditions;
the impact of general economic, industry or political conditions in
the United States or internationally; adverse healthcare reforms
and changes of laws and regulations; manufacturing and marketing
risks, including risks related to the COVID-19 pandemic, which may
include, but are not limited to, unavailability of or delays in
delivery of raw materials for manufacture of our CNS drug
candidates and difficulty in initiating or conducting clinical
trials; inadequate and/or untimely supply of one or more of our CNS
drug candidates to meet demand; entry of competitive products; and
other technical and unexpected hurdles in the development,
manufacture and commercialization of our CNS drug candidates; and
the risks more fully discussed in the section entitled "Risk
Factors" in our most recent Annual Report on Form 10-K for the year
ended March 31, 2020, and in our most recent Quarterly Report on
Form 10-Q for the quarter ended September 30, 2020, as well as
discussions of potential risks, uncertainties, and other important
factors in our other filings with the U.S. Securities and Exchange
Commission (SEC). Our SEC filings are available on the SEC’s
website at www.sec.gov. You should not place undue reliance on
these forward-looking statements, which apply only as of the date
of this press release and should not be relied upon as representing
our views as of any subsequent date. We explicitly disclaim any
obligation to update any forward-looking statements, other than as
may be required by law. If we do update one or more forward-looking
statements, no inference should be made that we will make
additional updates with respect to those or other forward-looking
statements.
Company
Contact
Mark A.
McPartland
VistaGen Therapeutics
Inc.
Phone: +1 (650)
577-3600
Email: IR@vistagen.com
Source: VistaGen Therapeutics,
Inc.