Why VistaGen Therapeutics Stock Jumped Today

Shares of VistaGen Therapeutics (NASDAQ: VTGN) were jumping 15.5% higher as of 3:21 p.m. EDT on Wednesday. The big gain came after the company announced results for its fiscal year 2021 and provided a corporate update after the market close on Tuesday.

It wasn't VistaGen's financial results that propelled the biotech stock today. The company doesn't have any products on the market yet. It recorded $1.1 million in revenue, part of its licensing deal with EverInsight Therapeutics, which merged with AffaMed Therapeutics last year. VistaGen posted a net loss for the fiscal year ending March 31, 2021, totaling $17.9 million.

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Source Fool.com