Why VistaGen Therapeutics Stock Is Trading Higher Today

VistaGen Therapeutics VTGN shares are trading higher after the company announced it received a new European patent for AV-101.

What Happened: VistaGen announced Thursday that the European Patent Office has granted the company a patent for its oral NMDAR glycine site antagonist, AV-101. The synthesis of AV-101 has the potential to become a new oral treatment for major depressive disorder and certain symptoms of Parkinson's treatment, and the new patent will allow VistaGen to create commercial quantities of the treatment and manufacture them on a commercial scale.

The European patent is the counterpart to a previously granted U.S. patent and is expected to be in effect until at least 2039. VistaGen is currently doing phase 1B tests for AV-101, and the company has received fast-track designation from the FDA.

"Expanding our patent portfolio for all of our product candidates is an ongoing priority to support our global development and commercialization strategies across our pipeline," said Shawn Singh, Chief Executive Officer of Vistagen.

Vistagen VTGN is a late clinical-stage biopharmaceutical company aiming to transform the treatment landscape for individuals living with anxiety, depression and other CNS disorders.

According to data from Benzinga Pro, VistaGen Therapeutics shares were up 17.6%, trading at $0.16 at the time of publication. The stock has a 52-week high of $1.79 and a 52-week low of $0.08.