Core Insights - Alto Neuroscience, Inc. announced that the Phase 2b study of ALTO-100 for major depressive disorder (MDD) did not meet its primary endpoint compared to placebo, showing no statistically significant improvement in depressive symptoms [1] - The company plans to analyze the full data set to determine next steps for ALTO-100 in MDD and is also evaluating ALTO-100 as an adjunctive treatment for bipolar depression in a separate Phase 2b study [2] - Despite the setback with ALTO-100, analysts from William Blair maintain confidence in the biomarker enrichment strategy and are focused on upcoming results from ALTO-300 in MDD, expected in the first half of 2025 [2][3] Financial Position - Alto Neuroscience has a current cash position of $194 million, which is expected to fund operations into 2027 and support multiple upcoming clinical readouts, including two additional readouts in MDD [2] Market Reaction - Following the announcement, ANRO stock experienced a significant decline of 67.70%, trading at $4.70 [3]
Neuropsychiatry-Focused Alto Neuroscience's Mid-Stage Depression Trial Disappoints, Analyst Notes Failure Raises Concerns About Platform