The clinical‑stage biopharmaceutical company Vistagen Therapeutics Inc. (NASDAQ: VTGN) is confronting an imminent legal deadline that could shape the next few weeks for its shareholders. Investors are being urged to secure legal counsel before March 1, the cut‑off for filing a securities class‑action, according to a series of announcements from the law firm Portnoy and the partnership Faruqi & Faruqi, LLP.

On February 16, Portnoy Law Firm issued a press release via StreetInsider.com announcing that it was representing a class of investors in a lawsuit against Vistagen. The firm’s statement highlighted the importance of timely filing and urged shareholders to act quickly. The same day, Faruqi & Faruqi, LLP issued a reminder on Marketscreener.com that the class‑action deadline would fall on March 1.

Earlier in the month, the same legal partners reiterated the deadline—first on February 14, noting a March 16 cut‑off, and then again on February 14 for the March 1 deadline—underscoring the urgency. Investor counsel Rosen, described as a “skilled” and “recognized” advisor in multiple Marketscreener pieces, encouraged shareholders to secure representation before the March 1 deadline, stressing the potential ramifications of missing the filing window.

What This Means for Shareholders

The class‑action is centered on allegations that Vistagen failed to disclose material information that could have affected the company’s valuation. While the specifics of the allegations are not detailed in the public filings, the timing and the repeated reminders suggest that investors could face significant losses if the court finds that the company engaged in misleading practices.

Investors holding VTGN shares are currently trading at a close price of $0.51 as of February 12, 2026, down from a 52‑week high of $5.14. The company’s market capitalization stands at approximately $19.97 million, and its price‑earnings ratio is negative, indicating that the company is still at a loss—a common situation for a clinical‑stage biopharma. The potential legal outcome could influence both the share price and the company’s ability to raise additional capital for its ongoing research.

The Broader Context

Vistagen’s focus on central nervous system disorders places it in a competitive niche, yet the company remains in a developmental phase. Any adverse legal judgment could hamper its access to investors and slow progress toward clinical trials or product approvals. Moreover, the company’s inclusion on the Nasdaq and its global patient outreach strategy could be impacted by regulatory scrutiny and investor confidence.

Conclusion

With the March 1 deadline looming, investors in Vistagen Therapeutics Inc. face a critical decision: seek legal counsel to potentially participate in the securities class action or risk the consequences of a delayed filing. The outcome of this legal proceeding will likely be a significant factor in the company’s short‑term financial trajectory and could influence its long‑term prospects within the biotechnology sector.