Alto Neuroscience Q3 net loss $16.8M; ALTO-100 fails Phase 2b MDD primary endpoint

Alto Neuroscience, Inc.

2024-Q3 EPS reported -$1.94

Net loss of $16.8M in Q3 2024 vs $9.1M a year ago; R&D expense $13.1M, G&A $5.8M.
Cash, cash equivalents & restricted cash ~$182M expected to fund operations into 2027.
ALTO-100 Phase 2b MDD missed primary endpoint; biomarker-positive mITT (n=196) not significant.
Adjunctive subgroup (n=61) showed clinically meaningful effect (Cohen's d=0.47, p=0.09); no MDD advancement planned.
Timelines: ALTO-300 & ALTO-203 topline 1H 2025; ALTO-101 topline 2H 2025; ALTO-100 bipolar depression topline 2026.

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