Last week, VistaGen Therapeutics implemented a 1-for-20 reverse split of
its common stock. As a result, the number of shares of the company’s common
stock outstanding was reduced from approximately 25.5 million to approximately
1.2 million. Because the stock price went up appropriately, the split did not
affect any stockholder’s ownership percentage or total market value at the time
it was implemented.
The reverse stock split is intended to increase market awareness of
VistaGen’s common stock and position the company for potential future listing
of its common stock on a national securities exchange. A number of other
reasons are listed at the new FAQs page recently posted at
www.vistagen.com/?page_id=1372.
To view the original press release announcing the split, visit
www.vistagen.com/?p=1366.
For those unfamiliar with the company, VistaGen Therapeutics is a
biotechnology company applying stem cell technology for drug rescue and cell
therapy. Drug rescue combines human stem cell technology with modern medicinal
chemistry to generate new chemical variants of once-promising drug candidates
that have been discontinued during late-stage preclinical development due to
heart or liver safety concerns. VistaGen also focuses on cell therapy, or
regenerative medicine, which includes repairing, replacing or restoring damaged
tissues or organs.
More information on the company and its technology can be found at
www.vistagen.com
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