Financial Performance - Alto Neuroscience reported a net loss of $36.3 million for the full year 2023, compared to a net loss of $27.7 million in 2022, reflecting an increase of approximately 31%[18] - Research and development expenses for 2023 were $30.3 million, up from $23.7 million in 2022, marking an increase of about 28%[17] - The company expects its cash balance to support operations into 2027, indicating strong financial positioning[15] Cash Position - As of December 31, 2023, Alto had cash and cash equivalents of $82.5 million, which increased to approximately $210 million following the IPO in February 2024[15] Clinical Development - The company is currently conducting a 266-patient Phase 2b study for ALTO-100 in major depressive disorder (MDD), with topline data expected in the second half of 2024[4] - ALTO-300 is also in a Phase 2b study for MDD, with topline data anticipated in the first half of 2025[7] - The California Institute for Regenerative Medicine approved a $15 million grant to support a proposed Phase 2b study of ALTO-100 in bipolar depression[16] - ALTO-101, a novel PDE4 inhibitor, is in Phase 1 development for cognitive impairment in schizophrenia, with positive results reported in December 2023[8] Corporate Governance - The company appointed two new board members with extensive experience in neuroscience and biopharmaceuticals in early 2024[16] Innovation and Strategy - Alto's Precision Psychiatry Platform™ aims to enhance treatment outcomes by identifying patients more likely to respond to its product candidates[19]
Alto Neuroscience(ANRO) - 2023 Q4 - Annual Results