Alto Neuroscience, Inc. (ANRO)

In March 2026, Alto Neuroscience announced a $120 million private placement financing and reported its full-year 2025 financial results. In April 2026, the company reported topline data from its Phase 2 proof-of-concept study of ALTO-101 and initiated a Phase 2b trial of ALTO-207 in treatment-resistant depression. In May 2026, the company presented Phase 2a data for ALTO-207 in Major Depressive Disorder at the SOBP Annual Meeting. The company's stock price has seen significant movement, increasing from $2.35 per share on May 5, 2025, to $25.225 on May 5, 2026, and increasing by 36.1% from the beginning of 2026 to $24.2590 by May 9, 2026.

Alto Neuroscience does not exhibit typical demand seasonality as a clinical-stage biopharmaceutical company. Demand for its products will be driven by medical need, regulatory approvals, and market adoption rather than seasonal fluctuations.

Alto Neuroscience, Inc. is a clinical-stage biopharmaceutical company focused on precision medicine for neuropsychiatric disorders. They use a digital clinical neuroscience platform to analyze biomarker data and predict treatment responses. Their pipeline includes clinical-stage assets like ALTO-100, ALTO-300, ALTO-101, ALTO-203, ALTO-202, ALTO-207 and ALTO-208 targeting conditions like depression and schizophrenia. ALTO-100 is in Phase 2b clinical trial for bipolar depression. ALTO-300 is in Phase 2b clinical trial for major depressive disorder. ALTO-101 is in Phase 2 proof-of-concept trial for cognitive impairment associated with schizophrenia and received FDA Fast Track Designation. ALTO-203 is in Phase 2 POC trial for major depressive disorder. ALTO-202 is in Phase 1 clinical trial for the treatment of MDD. ALTO-207 is proceeding to a Phase 2b trial for treatment-resistant depression. ALTO-208 is for patients with Parkinson's disease.

Alto Neuroscience is headquartered in Mountain View, California. They have clinical programs in the United States and Europe and plan to expand globally through partnerships.

Alto Neuroscience's brand reputation has been affected by a securities class action lawsuit alleging misleading hype around ALTO-100, which led to a significant stock price drop. However, positive developments such as the acquisition of ALTO-207, positive Phase 2a data, the initiation of a Phase 2b trial for Treatment-Resistant Depression, ALTO-101 receiving FDA Fast Track Designation, and a successful $120 million private placement financing have positively contributed to its reputation.

Alto Neuroscience has a mixed ownership structure including institutional, retail, and insider investors. Institutional investors hold 24,541,268 shares, with Alpha Wave Global LP being the largest individual institutional shareholder. Insiders own approximately 6.38% of the stock, with CEO Amit Etkin holding a significant portion. Retail investors hold approximately 80.73% of the stock.