Vistagen Therapeutics Inc (NASDAQ:VTGN) reported the U.S. Patent and Trademark Office has issued U.S. Patent related to certain processes of production for AV-101, which is company’s major CNS product candidate. Shawn Singh, the CEO, expressed that issuance of this U.S. patent advances their intellectual property plan for AV-101 at this notable period in its clinical advancement. This issued U.S. patent, together with the potential release of more AV-101 patent applications presently under review globally, offers VistaGen with increased intellectual property protection for AV-101 and improves its commercial potential.
VistaGen is a clinical-stage biopharmaceutical firm focused on advancing new generation drugs for depression and other CNS ailments. Its key CNS product candidate named AV-101 is in Phase II development, preliminary as a new-gen oral antidepressant medication candidate for major depressive disorder.
Its mechanism of action is basically different from all FDA-permitted atypical antipsychotics and antidepressants used adjunctively to cure MDD, with potential to lead a paradigm shift towards an advanced generation of faster-acting and safer antidepressants. AV-101 is presently being assessed by the National Institute of Mental Health in a small Phase II monotherapy trial in MDD being fully supported by the NIMH and performed by Dr. Carlos Zarate Jr.
VistaGen is intending to release a 180-patient Phase II trial of AV-101 as an adjunctive therapy for people with MDD with an insufficient response to standard, FDA-permitted antidepressants, with Dr. Maurizio Fava as Principal Investigator.
The lead drug candidate, AV-101 may also showcase the potential to cure neurodegenerative diseases and multiple CNS disorders in addition to Major Depressive Disorder, including epilepsy, neuropathic pain, Parkinson’s disease levodopa-resultant dyskinesia, Huntington’s disease and other ailments.
In the last trading session, the stock price of VistaGen jumped more than 95% to close the day at $1.80. The gains came at a share volume of 40.69 million compared to average share volume of 598,639.