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We often associate nasal sprays with the common cold. A biotech company has developed a similar formulation aimed at treating social anxiety disorder. Granted, the product hasn’t hit the market yet, but it’s already undergoing the next phase of testing, which has led to a triple-digit increase in listings for the company.
- Shares in biotech company Vistagen Therapeutics jumped 677% after the innovative drug moved into late-stage research.
- Nasal sprays are supposed to help with social anxiety.
- As many as one in four Americans are expected to suffer from the condition, paving the way for effective marketing in the future.
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It was the best day in Vistagen Therapeutics’ history so far. The price is the highest since the company was founded. An experimental nasal spray for social anxiety disorder is in an advanced stage of development.
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As the company announced in an official announcement, this is also the first positive progress in a Phase 3 trial of an experimental treatment for social anxiety disorder in the U.S. in 15 years.
On the day, the stock rose 1,370% to close at 677%. The stock market value rose to $104 million.
Vistagen Therapeutics Lists on Nasdaq – Year to Date
Source: TradingView
Phaseedienol nasal spray should do the trick. One study showed it could reduce stress before public speaking without serious external effects, using the same scale used to measure anxiety in patients (called SUDS). Previous attempts have not been as successful as expected, sending stocks sharply lower.
“The new results support the company’s hypothesis that COVID-19 negatively impacted the first test and strengthen our understanding of phase diene,” Maxim Group analyst Jason McCarthy wrote in a memo. Confidence that alcohol can succeed.”
How effective is the product?
“Fasedienol was able to rapidly and highly clinically significant reduce SUDS (Subjective Units of Distress) scores, suggesting that a single dose may reduce anxiety symptoms in anxiety-provoking situations,” said Michael Liebowitz, MD, founder of Anxiety. Member of the Disease Clinic of the Institute of Psychiatry and the Supervisory Board of the company.
An estimated 25 million Americans suffer from social phobia. Therefore, the commercialization prospect of this preparation is very broad.
“As a new class of drugs, our Ferin nasal spray product has the potential to be a game-changer in many therapeutic areas. As this Phase 3 study demonstrates, phase enols are at the forefront of this class of drugs, and their potential is on the rise.” Laying the groundwork for the first entirely new drug class for SAD patients in over 20 years.” Vestagen.
The agent comes in the form of an aerosol, thanks to the substances used, it modulates the olfactory neural circuits of fear and anxiety, and weakens the tone of the sympathetic autonomic nervous system. However, it does not lead to any systematic distribution. It is designed to be administered in microgram doses.