It’s significant news, given the increased emphasis on better mental health.
San Francisco-based VistaGen Therapeutics, Inc. (NASDAQ:VTGN), announced Tuesday that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for development of the Company's PH94B neuroactive nasal spray for on-demand treatment of social anxiety disorder (SAD).
VistaGen boasts a status as a clinical-stage biopharmaceutical company developing new generation medicines for central nervous system diseases and disorders with high unmet need.
CEO Shawn Singh exulted, “With a high global prevalence of anxiety disorders, including SAD, and alarming increases in dependency, addiction and even deaths associated with misuse of benzodiazepines, the urgency for a new non-addictive, non-sedating, fast-acting, as-needed treatment for SAD and other anxiety disorders is more important now than ever before.”
VTGN shares vaulted 23.2 cents, or 54.1%, to 66 cents, on volume of 6.1 million.
