Alto Neuroscience(US:ANRO)2025-11-12 13:02Financial Performance - Net loss for Q3 2025 was $14.2 million, compared to a net loss of $16.8 million for the same period in 2024, a reduction of about 15.5%[13] - Total operating expenses for Q3 2025 were $14.95 million, down from $18.89 million in Q3 2024, a decrease of approximately 20.5%[20] - Research and development expenses for Q3 2025 were $10.5 million, down from $13.1 million in Q3 2024, a decrease of approximately 19.5%[12] Cash Position - Cash position of $184.2 million as of October 31, 2025, expected to fund operations into 2028[11] - Cash, cash equivalents, and restricted cash decreased from $168.729 million in December 2024 to $138.316 million in September 2025, representing a decline of approximately 18%[22] Assets and Liabilities - Total assets decreased from $177.542 million in December 2024 to $147.006 million in September 2025, reflecting a reduction of about 17%[22] - Total liabilities increased from $26.082 million in December 2024 to $35.449 million in September 2025, indicating an increase of approximately 36%[22] - Accumulated deficit widened from $(138.396) million in December 2024 to $(185.452) million in September 2025, representing a deterioration of about 34%[22] Clinical Trials and Developments - Successful outcome from FDA meeting on ALTO-207, with Phase 2b trial initiation expected in 1H 2026 and Phase 3 trial by early 2027[1] - ALTO-101 Phase 2 proof-of-concept trial topline data expected in 1Q 2026, with enrollment ongoing[4] - ALTO-300 Phase 2b trial data expected in mid-2026, with approximately 200 biomarker positive patients to be enrolled[6] - ALTO-100 Phase 2b trial topline data expected in 2H 2026, with approximately 200 patients with bipolar depression to be evaluated[9] - Positive blinded pharmacokinetic analysis for ALTO-100 showed 96% of samples qualified as PK positive[9] Financing Activities - Company closed a $50 million PIPE financing to support accelerated development of ALTO-207[10]