earnings
confidence high
sentiment neutral
materiality 0.75
Alto Neuroscience reports FY2025 net loss $63.2M; cash $177M; ALTO-207 Phase 2b on track for 1H 2026
Alto Neuroscience, Inc.
- Cash, cash equivalents & restricted cash $177M as of Dec 31, 2025; runway into 2028 covers four key readouts.
- Net loss of $63.2M for FY2025 vs $61.4M in FY2024; R&D expenses $45.6M, G&A $20.7M.
- Acquired ALTO-207 (pramipexole/ondansetron) for TRD; Lancet-published PAX-D study showed Cohen's d=0.87 effect size.
- ALTO-207 Phase 2b trial expected to start 1H 2026, topline data 2H 2027; $50M PIPE completed in October 2025.
- ALTO-101 granted FDA Fast Track for CIAS; Phase 2 POC topline data expected around end of Q1 2026.