---
schema_version: "secwatch.filing_event.v1"
accession: "0001851734-22-000740"
form_type: "8-K"
ticker: "VTGN"
cik: "0001411685"
company_name: "Vistagen Therapeutics, Inc."
filed_at: "2022-12-21T23:59:59+00:00"
generated_at: "2026-06-21T00:44:58.503010+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Vistagen to acquire Pherin for ~12.4M shares, gaining full IP rights to PH94B and PH10

## Summary
- Vistagen will issue ~12.4M shares of common stock and a nominal cash payment (under $50k) to acquire Pherin.
- Acquisition eliminates all future royalty and milestone payment obligations related to PH94B and PH10.
- Pipeline expands with three new pherine candidates: PH15 (cognition), PH80 (migraine/hot flashes), PH284 (appetite disorders).
- PH94B in Phase 3 for social anxiety disorder and Phase 2 for adjustment disorder with anxiety; PH10 in development for major depressive disorder.
- Closing subject to Pherin stockholder approval and other customary conditions; lock-up of 180 days for certain Pherin holders.

## SEC filing metadata
- accession: 0001851734-22-000740
- form_type: 8-K
- ticker: VTGN
- cik: 0001411685
- company_name: Vistagen Therapeutics, Inc.
- filed_at: 2022-12-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1411685/000185173422000740/0001851734-22-000740-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1411685/000185173422000740/vtgn20221220_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001851734-22-000740
- JSON: https://secwatch.observer/filing/0001851734-22-000740.json
- Plain text: https://secwatch.observer/filing/0001851734-22-000740.txt

## Key facts
- Material Agreements
  Vistagen Therapeutics, Inc. entered into Agreement and Plan of Merger with Pherin Pharmaceuticals, Inc. and Kevin McCarthy as Stockholder Representative (effective 2022-12-20).
  - Action: entry
  - Agreement: merger
  - Counterparty: Pherin Pharmaceuticals, Inc. and Kevin McCarthy as Stockholder Representative
  - Effective: 2022-12-20
  source text: On December 20, 2022, Vistagen Therapeutics, Inc. (the “ Company ”) entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) by and among the Company, VTGN Merger Sub, Inc., a wholly-owned subsidiary of the Company (“ Merger Sub ”), Pherin Pharmaceuticals, Inc. (“ Pherin ”), and Kevin McCarthy in the capacity of Stockholder Representative.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1411685/000185173422000740/0001851734-22-000740-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.