Quarterly ResultMay 13, 2026, 07:08 AM
Alto Neuroscience Q1 Net Loss $26.2M; ALTO-207 Phase 2b TRD Trial Initiated
AI Summary
Alto Neuroscience reported its first quarter 2026 financial results, including a net loss of $26.2 million and R&D expenses of $20.3 million. The company initiated a Phase 2b clinical trial for ALTO-207 in treatment-resistant depression and reported new analyses supporting ALTO-101's effects on cognition. Following a $120 million PIPE financing in March 2026, Alto Neuroscience holds approximately $264 million in cash, extending its operational runway through 2029, which includes funding for a potential NDA submission for ALTO-207. The company also updated timelines for ALTO-300 and ALTO-100 trial readouts to 1H 2027 and mid-2027, respectively, due to enhanced patient quality measures.
Key Highlights
- Initiated Phase 2b clinical trial of ALTO-207 in treatment-resistant depression (TRD).
- Closed $120 million PIPE financing in March 2026.
- Cash, cash equivalents, and restricted cash of $264.2 million as of March 31, 2026.
- Cash balance expected to fund planned operations through 2029, including potential ALTO-207 NDA submission.
- Q1 2026 net loss of $26.2 million, compared to $15.2 million in Q1 2025.
- Q1 2026 R&D expenses were $20.3 million, up from $10.0 million in Q1 2025.
- ALTO-300 and ALTO-100 trial readouts now expected 1H 2027 and mid-2027, respectively, due to enhanced patient quality measures.