VistaGen's Fast-Acting Antidepressant Targets Multibillion-Dollar Market

04/26/2017

Additional Disclosures:

Disclosures from Maxim Group, VistaGen Therapeutics Inc., Equity Research Initiation, March 28, 2017

I, Lauren Chung, Ph.D., attest that the views expressed in this research report accurately reflect my personal views about the subject security and issuer. Furthermore, no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report.

I, Jason McCarthy, Ph.D., attest that the views expressed in this research report accurately reflect my personal views about the subject security and issuer. Furthermore, no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report.

I, Jason Kolbert, attest that the views expressed in this research report accurately reflect my personal views about the subject security and issuer. Furthermore, no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report.

The research analyst(s) primarily responsible for the preparation of this research report have received compensation based upon various factors, including the firm’s total revenues, a portion of which is generated by investment banking activities.

Maxim Group makes a market in VistaGen Therapeutics, Inc.

Maxim Group expects to receive or intends to seek compensation for investment banking services from VistaGen Therapeutics, Inc. in the next 3 months.