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Alto Neuroscience (NYSE: ANRO) announced its Q1 2024 financial results and recent business updates. The company initiated a Phase 2 study of ALTO-203 for MDD and anhedonia, and reported positive Phase 1 data for the transdermal formulation of ALTO-101, showing improved drug exposure and tolerability. Patient enrollment for ALTO-100 and ALTO-300 Phase 2b MDD studies is progressing well. The company has a strong cash position of approximately $206 million, expected to support operations into 2027.
Alto's ongoing studies include ALTO-100 and ALTO-300, both targeting MDD, and ALTO-101 for CIAS. The company also announced the initiation of a Phase 2 proof-of-concept study for ALTO-203 in patients with MDD and high levels of anhedonia. Financial highlights include a net loss of $13.4 million, an increase in R&D expenses to $10 million, and higher G&A expenses reaching $4.4 million. Alto completed an upsized IPO in February 2024, netting $133 million in proceeds.
Alto Neuroscience, Inc. ('Alto') (ANRO) announced upcoming data presentations at the Society of Biological Psychiatry and American Society of Clinical Psychopharmacology Annual Meetings, showcasing its precision psychiatry pipeline. The company highlighted neurobiological markers linked to cognitive impairment in schizophrenia and the development of novel compounds for depression and schizophrenia. The ALTO-100 study identified memory-based cognitive markers predicting antidepressant response, while ALTO-101 showed significant effects on electrophysiological measures relevant to cognitive processing. ALTO-300 demonstrated EEG-based cognitive markers predicting greater response. The presentations aim to contribute to the scientific community and further develop treatment options for patients.
