Thursday, September 6, 2012
VistaGen restructures MoFo debt, investor buys notes
VistaGen Therapeutics Inc. restructured nearly $2.4 million of long-term debt with law firm Morrison & Foerster LLP as an investor bought a $750,000 note from the South San Francisco biotech company. VistaGen (OTCBB: VSTA), which is developing ways to incorporate human stem cells into research lab tests that can predict a drug's toxicity or help with drug discovery, said about $1.38 million of the debt to Morrison & Foerster is expected to be converted into restricted common stock at a price of $1 per share. It did not say how the remaining $1 million in debt would be restructured.