Alto Neuroscience, Inc.
ANRO evidence brief
What we can confirm
- BioSniper Score:
- 7.2 / 10
- Market Cap:
- $1.24B
- Lead Asset:
- ALTO-101 (Phase 2)
What it means
What to watch
Prepared research question
What matters most for ANRO—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ANRO
Alto Neuroscience, Inc. is a clinical-stage biopharmaceutical company developing precision-based therapies for psychiatric and neurological disorders, with a pipeline of seven clinical-stage assets targeting major depressive disorder, bipolar depression, treatment-resistant depression, schizophrenia, and Parkinson's disease.
Key risk: Clinical development risk
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$1.24B
Cash Runway
—
Lead Asset
ALTO-101 (Phase 2)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 8 clinical trials for Alto Neuroscience, Inc..
Alto Neuroscience, Inc. is a clinical-stage biopharmaceutical company developing precision-based therapies for psychiatric and neurological disorders, with a pipeline of seven clinical-stage assets targeting major depressive disorder, bipolar depression, treatment-resistant depression, schizophrenia, and Parkinson's disease.
- Alto Neuroscience has a pipeline of seven clinical-stage assets addressing major depressive disorder, bipolar depression, treatment resistant depression, schizophrenia, and Parkinson's disease [sec_mda · as of 2026-05-13].
- As of June 30, 2026, the company reported cash and equivalents of $243.7M, net income of -$27.6M, shareholders' equity of $219.2M, and total debt of $16.2M [sec].
- The company intends to accelerate and expand clinical development of its most advanced program, ALTO-207, including an additional planned Phase 3 trial as monotherapy for treatment-resistant depression [sec · filed 2026-07-13].
- As of June 30, 2026, Alto had an accumulated deficit of $255.5 million and expects to continue generating operating losses and negative operating cash flows for the foreseeable future [sec_mda · as of 2026-08-12].
- The company's clinical-stage candidates are being advanced based on preclinical and clinical data suggesting potential improvements for patient populations not adequately treated with current standard-of-care medications [sec_mda · as of 2026-05-13].
What works
- Alto's pipeline includes seven clinical-stage assets targeting high-need therapeutic areas, with a focus on biomarker-driven patient selection to potentially improve treatment outcomes [sec_mda · as of 2026-05-13].
- The company has a strong cash position of $243.7M as of June 30, 2026, which provides runway to advance multiple clinical programs [sec].
- Alto is advancing ALTO-207, its most advanced program, into an additional planned Phase 3 trial for treatment-resistant depression, indicating progress toward late-stage development [sec · filed 2026-07-13].
What to weigh
- Alto has an accumulated deficit of $255.5 million as of June 30, 2026, and expects to continue generating operating losses and negative cash flows for the foreseeable future [sec_mda · as of 2026-08-12].
- The company's operating expenses and capital expenditures are expected to increase substantially as it progresses multiple clinical trials and manufacturing activities [sec_mda · as of 2026-08-12].
- All product candidates are in clinical development, with no approved products or commercial revenue, exposing the company to typical clinical and regulatory risks [sec_mda · as of 2026-05-13].
From the filings
Quoted directly from source documents.
Alto has a pipeline of seven clinical-stage assets.
“Our current pipeline consists of seven clinical-stage assets addressing high-need therapeutic areas, focusing on major depressive disorder, or MDD, bipolar depression, or BPD, treatment resistant depression, or TRD, schizophrenia, and Parkinson's disease.”
SEC MD&A · May 13, 2026
Alto intends to conduct an additional Phase 3 trial of ALTO-207 for treatment-resistant depression.
“The Company intends to accelerate and expand the clinical development of its most advanced program, ALTO-207, including to conduct an additional planned Phase 3 trial of ALTO-207 as monotherapy for the treatment of treatment-resistant depression.”
SEC filings · July 13, 2026
Alto had an accumulated deficit of $255.5 million as of June 30, 2026.
“As of June 30, 2026, we had an accumulated deficit of $255.5 million.”
SEC MD&A · August 12, 2026
Alto expects to continue generating operating losses and negative cash flows.
“We expect to continue to generate operating losses and negative operating cash flows for the foreseeable future.”
SEC MD&A · August 12, 2026
Risks & what to watch (4)›
Key risks
- Clinical development risk — All product candidates are in clinical stages; failure in trials could halt programs [sec_mda · as of 2026-05-13].
- Accumulated deficit and losses — Accumulated deficit of $255.5M as of June 30, 2026, with expected continued losses [sec_mda · as of 2026-08-12].
- Increasing operating expenses — Expenses expected to rise substantially with ongoing and planned trials [sec_mda · as of 2026-08-12].
- No approved products or revenue — No commercial products; relies on financing for operations [sec_mda · as of 2026-05-13].
What to watch
- Initiation and results of the planned Phase 3 trial of ALTO-207 for treatment-resistant depression [sec · filed 2026-07-13].
- Progress of ongoing Phase 2b trials for ALTO-100 and ALTO-300 in major depressive disorder [sec_mda · as of 2026-08-12].
- Updates on ALTO-203 and ALTO-208 clinical development [sec_mda · as of 2026-08-12].
- Cash burn rate and any future financing activities given the accumulated deficit and expected losses [sec_mda · as of 2026-08-12].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated September 24, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.16 · 0% dilution
Lead: Phase 2
3 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Short Interest
as of Apr 28, 2026- % of float
- 7.5%
- Days to cover
- 5.7
- Shares short
- 2,190,772
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ANRO short interestGovernance
Frequently asked questions
What is the AI investment thesis for Alto Neuroscience, Inc.?
Alto Neuroscience, Inc. is a clinical-stage biopharmaceutical company developing precision-based therapies for psychiatric and neurological disorders, with a pipeline of seven clinical-stage assets targeting major depressive disorder, bipolar depression, treatment-resistant depression, schizophrenia, and Parkinson's disease.
What is Alto Neuroscience, Inc.'s lead drug candidate?
Alto Neuroscience, Inc.'s most advanced tracked candidate is ALTO-101 (Phase 2) for Schizophrenia.
Who is the CEO of Alto Neuroscience, Inc.?
Dr. Amit Etkin M.D., Ph.D. is the chief executive officer of Alto Neuroscience, Inc. (ANRO).
Where is Alto Neuroscience, Inc. headquartered?
Alto Neuroscience, Inc. (ANRO) is headquartered in Mountain View, CA, United States.
What therapeutic areas does Alto Neuroscience, Inc. focus on?
Alto Neuroscience, Inc. develops therapies across Neurology, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.