I see this kind of volume with VTGN and start getting some FOMO feelings. Good or bad play to put a big chunk of capital?

VTGN is a biotech developing intranasal pherine drugs**.** Fasedienol was supposed to be the first contender and is supposed to work for social anxiety treatment and had a successful phase-2 trial but phase 3 and phase 4 failed their primary endpoints which was helping the condition with only one dose causing the stock to collapse to almost 95%.

The interesting part is that severe-anxiety subgroups continue showing encouraging signals after repeated doses. Its other main drugs are itruvone for depression and refisolone for menopausal hot flashes using the same method of nasal spray. both with promising early Phase 2 results but without large-scale validation yet.

VTGN fell below Nasdaq’s $1 requirement but received an extension through Feb 1, 2027 giving it time to recover organically before a reverse split/delisting becomes a bigger issue.
The biggest potential turning point is its upcoming FDA discussion about whether fasedienol can move forward with a redesigned phase trial.