Alto Neuroscience raises $50M in PIPE; accelerates ALTO-207 in TRD after FDA meeting

Alto Neuroscience, Inc.

Gross proceeds of ~$50M from PIPE led by Perceptive Advisors; priced at $5.914/share plus pre-funded warrants at $5.9139.
Proceeds to accelerate ALTO-207 development in treatment-resistant depression; Phase 2b potentially pivotal by mid-2026, Phase 3 by early 2027.
Successful FDA meeting for ALTO-207 guides accelerated path; blinded PK data from ALTO-100 and ALTO-101 showed 96% and 100% compliance.
Terminated $75M Sales Agreement with Leerink Partners; no shares sold under it.
Cash runway extended into 2028 including additional ALTO-207 activities.

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