| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
– Financing led by Perceptive Advisors with participation from new and existing biotech focused investors –
– Alto expects to use the proceeds of this financing to accelerate development of ALTO-207 in Treatment Resistant Depression –
Alto Neuroscience, Inc. ("Alto") (NYSE:ANRO), a clinical-stage biopharmaceutical company focused on the development of novel precision medicines for neuropsychiatric disorders, announced today that it has entered into a securities purchase agreement with institutional and accredited investors to sell securities in a private placement financing (the "PIPE") for gross proceeds of approximately $50 million, before deducting offering expenses. The financing was led by Perceptive Advisors, with participation by new and existing institutional investors, including Commodore Capital, Vestal Point Capital, Vivo Capital, and a large biotech dedicated investor.
Alto intends to use the proceeds from the PIPE to accelerate the development of ALTO-207, a fixed-dose combination of pramipexole (a dopamine D3-preferring D3/D2 agonist) and ondansetron, following a successful FDA meeting regarding the development path of the program, as well as for working capital and general corporate purposes. Alto expects to initiate a Phase 2b study of ALTO-207 in treatment resistant depression (TRD) by mid-2026, which has the potential to be a pivotal study. With the funding from the PIPE, the Company now also expects to initiate a Phase 3 study of ALTO-207 in TRD patients by early 2027.
Posted In: ANRO
