Alto Neuroscience Q2 2024 net loss $16.0M; cash $193.6M; Phase 2b MDD topline due Oct 2024

Alto Neuroscience, Inc.

2024-Q2 EPS reported -$1.32

Cash, cash equivalents, and restricted cash of $193.6M as of June 30, 2024; expected to fund operations into 2027.
Net loss of $16.0M for Q2 2024 vs $8.7M in Q2 2023; R&D expenses rose to $13.2M from $7.1M.
Completed enrollment of 301 patients in Phase 2b MDD study of ALTO-100; topline data expected in October 2024.
Initiated Phase 2 studies: ALTO-101 in schizophrenia CIAS, ALTO-203 in MDD with anhedonia, ALTO-100 in bipolar depression.
Received $11.7M Wellcome Trust award for ALTO-100 in bipolar depression; added COO Michael Hanley.

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