Deal Details
Alto Completes $120 Million Private Placement
Summary
Alto Neuroscience, Inc. (“Alto”) (NYSE: ANRO) recently announced a private placement of 2,900,000 shares of its common stock at a price of $20.00 per share and 3,100,000 pre-funded warrants at a price of $19.9999. Gross proceeds from the private placement will be approximately $120 million. The financing was led by Commodore Capital with participation by new and existing institutional investors, including Dellora Investments, Driehaus Capital Management, Perceptive Advisors, Spruce Street Capital, Venrock Healthcare Capital Partners, Vestal Point Capital and a large biotech dedicated investor.
Alto intends to use the net proceeds from the transaction to fund the development of ALTO-207, a fixed-dose combination of pramipexole (a dopamine D3-preferring D3/D2 agonist) and ondansetron, through a planned Phase III clinical trial in treatment resistant depression (“TRD”) and to a potential NDA submission, as well as for working capital and general corporate purposes.
Baird served as a placement agent to Alto on this transaction.
About
Alto Neuroscience is a clinical-stage biopharmaceutical company with a mission to redefine psychiatry by leveraging neurobiology to develop personalized and highly effective treatment options. Alto’s Precision Psychiatry Platform™ measures brain biomarkers by analyzing EEG activity, neurocognitive assessments, wearable data and other factors to better identify which patients are more likely to respond to Alto product candidates. Alto’s clinical-stage pipeline includes novel drug candidates in bipolar depression, major depressive disorder, TRD, schizophrenia and other mental health conditions. Alto is headquartered in Mountain View, California.CONTACT US TO LEARN MORE
- Date
- March 2026
- Company
- Alto Neuroscience, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Healthcare
- Verticals
-
Biotechnology & Pharmaceuticals
- Target Geography
- North America
Share
