Alto Neuroscience, Inc. reported its financial results for the first quarter ended March 31, 2025. The company's cash, cash equivalents, and restricted cash totaled approximately $161.3 million as of March 31, 2025, compared to $168.7 million at the end of 2024. This cash position is expected to fund planned operations into 2028.
Research and development expenses for the first quarter of 2025 were $10.0 million, consistent with $10.0 million for the same period in 2024. General and administrative expenses increased to $5.7 million from $4.4 million in the prior year, primarily due to higher personnel costs and expenses related to operating as a public company.
The net loss for the first quarter of 2025 was $15.2 million, compared to a net loss of $13.4 million for the first quarter of 2024. The company highlighted ongoing execution across its four clinical trials and advancements in its biomarker platform.
Upcoming pipeline milestones include topline data from ALTO-203 in MDD expected in the second quarter of 2025, followed by ALTO-101 in schizophrenia in the second half of 2025. Late-stage programs ALTO-300 in MDD and ALTO-100 in bipolar depression are expected to report topline data in mid-2026 and the second half of 2026, respectively.
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