your badges 52W Range $0–$5 0% of range Analyst Rating HOLD 8 analysts Price Target $1 +488% upside P/E -0.1 ROE -166.5% Net Profit Margin -2703.7%

VTGN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $0.17
P/E (TTM) -0.1
EPS (TTM) $-1.66
Revenue (TTM) $3M
ROE (TTM) -166.5%
Debt/Equity (MRQ) 0.0
52W Range $0–$5

VTGN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
range
bars

Bar granularity adapts to the selected period — hover the chart to see open/high/low/close for a bar.

Stock splits 2
Ex-date Split Type
June 7, 2023 1-for-30 Reverse
Aug. 14, 2014 1-for-20 Reverse

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$1M
2017-03-31 → 2026-03-31
EPS$-1.83
2023-03-31 → 2026-03-31
Free Cash Flow·
2017-03-31 → 2024-03-31
Net margin-2703.7%
2017-03-31 → 2026-03-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend VTGN 5Y avg Peer Median Verdict
P/E (TTM) -0.15Y avg ≈-1.7 ≈-1.7 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Beat Rate 62.5%
Avg Surprise 5.1%
Next Report Nov 11, 2026
PeriodReportEPS ActualEPS EstSurprise
March 31, 2027 Aug 14, 2026 $-0.30 $-0.38 20.5%
Dec. 31, 2026 Jun 15, 2026 $-0.37 $-0.34 -7.7%
June 30, 2026 Aug 14, 2026 $-0.30 $-0.38 20.5%
March 31, 2026 $-0.37 $-0.34 -7.7%
Dec. 31, 2025 $-0.45 $-0.50 9.2%
Sept. 30, 2025 $-0.54 $-0.49 -11.2%
June 30, 2025 $-0.47 $-0.48 2.7%
March 31, 2025 $-0.43 $-0.51 14.7%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 15
Metric Trend 202620252024202320222021202020192018201720162015
Revenue $1M$486.0K$1M$-227.0K$1M$1M$0·$0$1M$0·
R&D Expense $55M$39M$20M$44M$35M$12M$13M$17M$8M$5M$4M$2M
SG&A Expense $18M$17M$14M$15M$13M$7M$7M$7M$6M$6M$14M$4M
Operating Expenses $73M$56M$34M$59M$49M$19M$21M$25M$14M$11M$18M$7M
Operating Income $-72M$-56M$-33M$-59M$-48M$-18M$-21M$-25M$-14M$-10M$-18M$-7M
Interest Expense ·······$8.0K$8.9K$4.6K$770.8K$5M
Other Non-op ····$0$600···$0$-2.3K$-135.0K
Pretax Income $-70M$-51M$-29M$-59M$-48M$-18M$-21M$-25M$-14M$-10M$-47M$-14M
Income Tax $7.0K$7.0K$4.0K$6.0K$3.4K$2.6K$2.6K$2.6K$2.4K$2.4K$2.3K$2.4K
Net Income $-70M$-51M$-29M$-59M$-48M$-18M$-21M$-25M$-14M$-10M$-47M$-14M
EPS (Basic) $-1.83$-1.67$-1.52$-8.51$-7.38$-0.49····$-29.08$-10.53
EPS (Diluted) $-1.83$-1.67$-1.52$-8.51······$-29.08$-10.61
Shares (Basic) 38,073,92630,877,02919,354,5006,958,7496,599,28786,133,644····1,767,9571,318,813
Shares (Diluted) 38,073,92630,877,02919,354,5006,958,749······1,767,9571,318,813
EBITDA $-72M$-56M$-33M$-59M$-48M$-18M$-21M$-24M$-14M$-10M$-18M$-7M
Balance Sheet 24
Metric Trend 202620252024202320222021202020192018201720162015
Cash & Equivalents $31M$67M$119M$17M$68M$103M$1M$13M$10M$3M$428.5K$70.0K
Receivables ··········$0·
Prepaid Expense $2M$2M$2M$802.0K$3M$875.7K$225.1K$228.6K$644.8K$456.6K$426.8K$35.7K
Current Assets $47M$82M$121M$18M$71M$104M$2M$14M$11M$3M$855.3K$105.7K
PP&E (Net) $427.0K$476.0K$435.0K$507.0K$414.3K$367.4K$209.6K$312.7K$207.4K$286.5K$87.6K$117.1K
PP&E (Gross) $2M$2M$2M$2M$2M$2M$1M$1M$1M$1M$798.6K$782.2K
Accum. Depreciation $1M$1M$1M$1M$1M$1M$1M$933.4K$842.1K$761.4K$711.0K$665.1K
Other Non-current Assets $393.0K$454.0K$726.0K···$47.8K$47.8K$47.8K$47.8K$46.9K$46.9K
Total Assets $49M$84M$124M$21M$75M$108M$6M$14M$11M$4M$989.8K$269.7K
Accounts Payable $2M$653.0K$2M$2M$3M$838.3K$2M$1M$1M$867.3K$936.0K$2M
Accrued Liabilities $9M$9M$2M$796.0K$1M$2M$561.5K$2M$206.3K$443.0K$814.0K$1M
Short-term Debt $96.0K$0$0$105.0K·$0$56.5K$57.3K$53.9K$54.8K$43.6K$4M
Current Liabilities $13M$13M$5M$5M$6M$4M$28M$3M$1M$1M$2M$17M
Capital Leases $249.0K$948.0K$2M$2M$3M$3M$3.0K$6.3K$9.3K$11.9K$0$1.1K
Total Liabilities $13M$14M$9M$9M$10M$16M$12M$7M$4M$3M$4M$21M
Long-term Debt ··········$58.8K$2M
Total Debt ··$0··$0$56.5K$57.3K$53.9K$54.8K$43.6K·
Common Stock $40.0K$29.0K$27.0K$7.0K$6.9K$180.8K$49.3K$42.8K$23.1K$9.0K$2.6K$1.7K
Paid-in Capital $517M$482M$474M$343M$336M$316M$200M$192M$167M$147M$133M$68M
Retained Earnings $-477M$-408M$-356M$-327M$-268M$-220M$-202M$-181M$-157M$-142M$-132M$-85M
Treasury Stock $4M$4M$4M$4M$4M$4M$4M$4M$4M$4M$4M$4M
AOCI $-2.0K$5.0K$0·········
Stockholders' Equity $36M$70M$114M$12M$65M$92M$-6M$7M$7M$615.8K$-3M$-21M
Liabilities + Equity $49M$84M$124M$21M$75M$108M$6M$14M$11M$4M$989.8K$269.7K
Cash Flow 13
Metric Trend 202620252024202320222021202020192018201720162015
D&A $199.0K$150.0K$127.0K$130.0K$153.5K$117.6K$103.1K$91.2K$80.7K$54.9K$53.5K$59.1K
Stock-based Comp $4M$4M$2M$3M$3M$2M·····$2M
Other Non-cash $-947.0K$5M$1M··$6M$5M$10M$5M$3M$42M·
Operating Cash Flow $-66M$-42M$-26M$-50M$-45M$-12M$-16M$-15M$-9M$-7M$-5M$-3M
CapEx ··$0$528.0K$0$275.4K$0$174.0K$1.6K$239.1K$26.3K·
Investing Cash Flow $-877.0K$-13M$-61.0K$-740.0K$-200.4K$-275.4K$0$-174.0K$-1.6K$-239.1K$-26.3K·
Stock Issued ·····$13M$3M$17M$17M$10M$280.0K$3M
Net Stock Activity ·····$13M$3M$17M$17M$10M$280.0K$3M
Financing Cash Flow $31M$3M$128M$-1M$10M$114M$4M$17M$17M··$3M
Net Change in Cash $-36M$-52M$103M$-51M$-35M$102M$-12M$3M$7M$2M$358.5K$70.0K
Taxes Paid $3.0K$0··$3.4K$2.6K$2.6K$2.6K$2.4K$2.4K$2.4K$2.4K
Free Cash Flow ··$-26M$-50M$-45M$-12M$-16M$-15M$-9M$-8M$-5M·
Levered FCF ·······$-15M$-9M$-8M$-6M·
Profitability 7
Metric Trend 202620252024202320222021202020192018201720162015
Operating Margin -5683.7%-11517.1%-3103.5%26109.2%-4308.3%-1646.1%-69108.0%··-819.9%··
Net Margin -5491.3%-10579.8%-2759.6%26100.3%-4306.8%-1646.1%-69016.6%··-820.4%··
Pretax Margin -5490.8%-10578.4%-2759.2%26097.7%-4306.5%-1645.9%-69008.0%··-820.2%··
EBITDA Margin -5668.0%-11486.2%-3091.5%26109.2%-4308.3%-1635.3%-68765.4%··-815.5%··
ROA -104.9%-49.4%-40.6%-123.8%-52.2%-31.4%-210.0%-194.5%-191.4%-436.2%-7498.3%-5206.5%
ROE -136.8%-67.9%-24.7%-361.8%-66.0%-19.3%351.4%-560.9%-380.9%868.6%401.5%83.3%
ROIC -203.1%-79.5%-28.9%-490.7%-73.8%-19.5%366.7%-344.3%-203.7%-1528.6%608.5%33.0%
Liquidity & Solvency 4
Metric Trend 202620252024202320222021202020192018201720162015
Current Ratio 3.76.523.63.812.324.90.64.97.62.50.50.0
Quick Ratio 2.45.323.33.611.824.60.54.77.12.10.20.0
Debt / Equity ··0.0··0.0-0.00.00.00.1-0.0·
Interest Coverage ·······-3069.5-1595.5-2227.9-23.2-1.5
Efficiency 1
Metric Trend 202620252024202320222021202020192018201720162015
Asset Turnover 0.00.00.0-0.00.00.00.0·0.00.5··
Per Share 3
Metric Trend 202620252024202320222021202020192018201720162015
Revenue / Share $0.03$0.02$0.06·········
Cash Flow / Share $-1.74$-1.36$-1.33·······$-2.72$-2.10
EPS (TTM) $-1.83$-1.67$-1.52$-8.51$-12.53$-12.53$-12.53$-12.53$-12.53$-12.53$-29.08$-10.61
Growth Rates 3
Metric Trend 202620252024202320222021202020192018201720162015
Revenue YoY 161.1%-54.3%··1.8%·······
Revenue CAGR 3Y ·-24.0%-0.79%·········
Revenue CAGR 5Y 3.1%···········
Valuation (TTM) 4
Metric Trend 202620252024202320222021202020192018201720162015
Revenue TTM $1M$486.0K$1M$-227.0K$1M$1M$0·$0$1M$0$987.4K
Net Income TTM $-70M$-51M$-29M$-59M$-48M$-18M$-21M$-25M$-14M$-10M$-47M$-14M
P/E -0.3-1.5-3.5-0.4-3.0-5.1-1.1-3.1-2.2-4.7-9.0-28.3
Earnings Yield -321.1%-66.8%-28.8%-236.4%-33.7%-19.6%-94.9%-32.6%-44.9%-21.3%-11.1%-3.5%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2026-03-312025-03-312024-03-312023-03-312022-03-31
Revenue $1M $486.0K $1M $-227.0K $1M
Operating Margin % -5683.7% -11517.1% -3103.5% 26109.2% -4308.3%
Net Income $-70M $-51M $-29M $-59M $-48M
Diluted EPS $-1.83 $-1.67 $-1.52 $-8.51 ·

Institutional owners (13F) 62 filers · $4.1M total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 62
Value held $4.1M
New positions 14
Exited positions 11
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
14 (-4 vs prior Q) 11 (0 vs prior Q) 18 (+4 vs prior Q) 15 (+3 vs prior Q) -2.3M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $1,207,977 1,824,738 29.60% Shares
Commodore Capital LP $630,228 2,788,620 15.44% Shares
VANGUARD CAPITAL MANAGEMENT LLC $355,769 1,574,200 8.72% Shares
TWO SIGMA INVESTMENTS, LP $191,646 847,992 4.70% Shares
RENAISSANCE TECHNOLOGIES LLC $165,093 730,500 4.05% Shares
Cubist Systematic Strategies, LLC $156,033 43,953 3.82% Shares
Ikarian Capital, LLC $117,311 519,077 2.87% Shares
AdvisorShares Investments LLC $99,133 438,643 2.43% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $95,542 415,400 2.34% Call option
TWO SIGMA ADVISERS, LP $91,165 137,732 2.23% Shares
LUMINUS MANAGEMENT LLC $91,104 403,115 2.23% Shares
GEODE CAPITAL MANAGEMENT, LLC $82,514 365,002 2.02% Shares
ADAR1 Capital Management, LLC $79,358 351,141 1.94% Shares
BlackRock, Inc. $78,068 345,432 1.91% Shares
MILLENNIUM MANAGEMENT LLC $69,292 306,600 1.70% Call option
GROUP ONE TRADING LLC $68,791 304,385 1.69% Shares
Verdad Advisers, LP $66,296 293,343 1.62% Shares
VANGUARD FIDUCIARY TRUST CO $49,200 217,700 1.21% Shares
TUDOR INVESTMENT CORP ET AL $37,742 167,000 0.92% Call option
JANE STREET GROUP, LLC $37,251 164,827 0.91% Shares
CITADEL ADVISORS LLC $33,674 149,000 0.83% Call option
BOOTHBAY FUND MANAGEMENT, LLC $30,413 134,571 0.75% Shares
STATE STREET CORP $27,372 121,114 0.67% Shares
XTX Topco Ltd $26,754 118,380 0.66% Shares
NORTHERN TRUST CORP $18,266 80,823 0.45% Shares
JANE STREET GROUP, LLC $17,289 76,500 0.42% Call option
STEMPOINT CAPITAL LP $17,276 616,749 0.42% Shares
CITADEL ADVISORS LLC $15,558 68,839 0.38% Shares
UBS Group AG $13,070 57,830 0.32% Shares
DIADEMA PARTNERS LP $13,040 57,700 0.32% Call option
SUSQUEHANNA INTERNATIONAL GROUP, LLP $10,189 44,300 0.25% Put option
OSAIC HOLDINGS, INC. $10,076 43,888 0.25% Shares
Confluence Wealth Services, Inc. $7,370 32,610 0.18% Shares
Scientech Research LLC $6,844 30,283 0.17% Shares
StoneX Group Inc. $6,621 10,840 0.16% Shares
R Squared Ltd $6,270 27,745 0.15% Shares
Kestra Advisory Services, LLC $5,876 26,000 0.14% Shares
JANE STREET GROUP, LLC $5,537 24,500 0.14% Put option
HighTower Advisors, LLC $4,662 20,628 0.11% Shares
Farther Finance Advisors, LLC $4,617 15,000 0.11% Shares
Tower Research Capital LLC (TRC) $4,099 18,136 0.10% Shares
BANK OF AMERICA CORP /DE/ $3,745 16,570 0.09% Shares
Truvestments Capital LLC $3,512 15,540 0.09% Shares
CITADEL ADVISORS LLC $3,413 15,100 0.08% Put option
RAYMOND JAMES FINANCIAL INC $3,356 14,851 0.08% Shares
SIMPLEX TRADING, LLC $3,230 14,295 0.08% Shares
DEUTSCHE BANK AG\ $2,760 12,000 0.07% Shares
Vanguard Global Advisers, LLC $2,443 10,809 0.06% Shares
Performa Ltd (US), LLC $1,243 5,500 0.03% Shares
CITIGROUP INC $864 3,822 0.02% Shares

Show all 62 institutional owners →

Activists & 5%+ owners 5 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Aug. 12, 2022 · Initial filing · SEC
Growth Equity Opportunities 17, LLC, New Enterprise Associates 17, L.P., NEA Partners 17, L.P., NEA 17 GP, LLC, Forest Baskett, Ali Behbahani, Carmen Chang, Anthony A. Florence, Jr., Liza Landsman, Mohamad H. Makhzoumi, Joshua Makower, Edward T. Mathers, Scott D. Sandell, Peter W. Sonsini, Paul Walker, Rick Yang ×2 filings April 29, 2021 · Initial filing Passive investment SEC
Undisclosed reporting person July 27, 2011 · Initial filing Passive investment SEC
Undisclosed reporting person July 27, 2011 · Initial filing Passive investment SEC
Cato Holding Company, Allen E. Cato, Ph.D., M.D. June 14, 2011 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 28 insiders · 14 officers · 12 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Shawn Singh President and CEO June 30, 2026 A 54,846 0 0 $0
Nick B. Tressler Chief Financial Officer June 30, 2026 A 11,712 0 0 $0
Cynthia Lynn Anderson CHIEF FINANCIAL OFFICER June 30, 2025 A 12,801 0 0 $0
Jerrold Duane Dotson VP, CFO June 30, 2023 A 3,671 0 0 $0
Stephanie Jones PRESIDENT May 9, 2011 S 17,897 0 0 $0
Joshua S. Prince Chief Operating Officer April 7, 2026 A 15,249 0 0 $0
Reid G. Adler Chief Legal Officer June 30, 2026 A 60,868 0 0 $0
Angel S Angelov Chief Medical Officer May 18, 2026 A · 0 0 $0
Elissa S. Cote Chief Corp Development Officer April 7, 2026 A · 0 0 $0
Mark Alan Smith CHIEF MEDICAL OFFICER June 30, 2022 A 19,915 0 0 $0
Ralph H. Snodgrass PRES./CHIEF SCIENTIFIC OFFICER Dec. 31, 2021 A 64,958 0 0 $0
Mark J Ginski SENIOR VP, HEAD OF CMC Feb. 1, 2021 A · 0 0 $0
Mark A. Mcpartland VP CORPORATE DEVELOPMENT Dec. 30, 2020 A · 0 0 $0
Franklin A. Rice VP CORPORATE DEVELOPMENT May 3, 2012 G 174,046 0 0 $0
Douglas J Williamson Director July 29, 2026 A · 0 0 $0
Paul R Edick Director Oct. 27, 2025 A · 0 0 $0
Margaret M Fitzpatrick Director Sept. 9, 2025 A · 0 0 $0
Mary L. Rotunno Director Sept. 9, 2025 A · 0 0 $0
Joanne Curley Director Sept. 9, 2025 A · 0 0 $0
Ann Michelle Cunningham Director Sept. 9, 2025 A · 0 0 $0
Jon S Saxe Director Sept. 9, 2025 A 5,751 0 0 $0
Jerry B Gin Director Sept. 6, 2024 A 100,000 0 0 $0
Brian J. Underdown Director March 19, 2021 M 2,500 0 0 $0
Gregory A. Bonfiglio Director Feb. 13, 2012 A · 0 0 $0
COMMODORE CAPITAL LP 10% owner Oct. 4, 2023 A 1,575,000 0 0 $0
Allen Easley Cato 10% owner Dec. 15, 2011 X 28,497 0 0 $0
CATO HOLDING CO 10% owner Dec. 15, 2011 P 3,310,836 0 0 $0
Platinum Long Term Growth VII, LLC · Dec. 22, 2011 J 1,558,862 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 2 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
VXF · VANGUARD INDEX FUNDS 0.00% 413,745 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 1,160,455 SH Aug. 19, 2026 Daily

VTGN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 8 analysts SELL
Median target $1.00 +488.2%
0 0.0% Strong Buy
0 0.0% Buy
5 62.5% Hold
1 12.5% Sell
2 25.0% Strong Sell

12-Month Price Target

2 analysts · 2026-10-28

Mean target $1.00 +488.2%

Low$1.00 Mean$1.00 High$1.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
VTGN · -0.3 161.1% -5491.3% -136.8% ·
ENSC $4M -0.2 -2.8% -200.9% -294.0% ·
SNGX $14M -0.6 -85.8% · -311.2% ·
TCRT · -1.5 -50.0% · · ·
MTVA $19M -1.1 -44.6% -2543.7% -173.5% ·
XCUR $35M -6.9 · · -77.3% ·
APRE $7M -0.4 · · -97.5% ·
SKYE $25M -0.5 · · -175.6% ·

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Aug 14, 2026