Alto Neuroscience, Inc. reported its financial results for the second quarter ended June 30, 2025. The company's cash, cash equivalents, and restricted cash totaled approximately $148.1 million as of June 30, 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 second quarter of 2025 were $13.1 million, a slight decrease from $13.2 million for the same period in 2024. General and administrative expenses increased to $5.6 million from $5.2 million in the prior year.
The net loss for the second quarter of 2025 was $17.7 million, compared to a net loss of $16.0 million for the second quarter of 2024. The company highlighted the recent acquisition of ALTO-207 and ALTO-208, expanding its precision psychiatry pipeline.
Key pipeline updates include the planned initiation of a potentially pivotal Phase 2b trial for ALTO-207 in treatment-resistant depression by mid-2026. Topline data for ALTO-101 in schizophrenia is expected in the second half of 2025, ALTO-300 in MDD in mid-2026, and ALTO-100 in bipolar depression in the second half of 2026. Positive pharmacodynamic results from the ALTO-203 Phase 2 POC trial were also reported.
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