Deal Details

Alto Completes $100 Million Follow-On Offering

Healthcare

Alto follow-on offering

Summary

Alto Neuroscience, Inc. (“Alto”) (NYSE: ANRO) recently announced an underwritten registered direct offering of 3,776,436 shares of its common stock at a price of $26.48 per share, generating gross proceeds of approximately $100.0 million (the “Offering”). Alto intends to use net proceeds from the Offering, together with its current cash and cash equivalents, to accelerate and expand the clinical development of ALTO-207, including to conduct an additional planned Phase 3 trial of ALTO-207 as monotherapy for the treatment of treatment-resistant depression and for general working capital purposes.

Baird served as a joint book-running manager on the Offering.

About

Alto is a clinical-stage biopharmaceutical company with a mission to redefine psychiatry by leveraging neurobiology to develop personalized and highly effective treatment options. Through insights derived from Alto’s scalable and proprietary Precision Psychiatry Platform, Alto aims to discover brain-based biomarkers to better identify which patients are more likely to respond to its novel product candidates. Alto’s current pipeline consists of seven clinical-stage assets addressing high-need therapeutic areas, including major depressive disorder, bipolar depression, treatment resistant depression, schizophrenia and Parkinson’s disease. Alto is headquartered in Mountain View, California.

Healthcare

Alto follow-on offering