ANRO Stock — Alto Neuroscience Inc.: Cash, EV, Pipeline

Share price

$30.27

Market cap

$1,187.9M

Cash

$337.6M

Enterprise value

$862.7M

Balance sheet

Cash	$337.6M
Debt	$12.4M
Net cash	$325.2M
Enterprise value	$862.7M
Basic shares	35.1M shares
Fully diluted shares	47.7M shares
Fully diluted market cap	$1,444.0M
Cash per share	$9.62

Cash figures as of 2026-07-14. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Now - Oct 24, 2026	ALTO-100	Phase 2	Bipolar Disorder I or II With a Major Depressive Episode	—
Jan 12 - Feb 23	ALTO-300	Phase 2	Major Depressive Disorder	—
Dec 13, 2027 - Jan 24, 2028	ALTO-207	Phase 2	Treatment-resistant Depression (TRD)	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

ALTO-100

Phase 2 · Active

Partnerships Wellcome (convertible funding of up to ~$11.7M, solely for this program)

Indications

bipolar depression (Stage not disclosed)

Status note Phase 2b. Filing states seven clinical-stage assets; excerpt details only this one.

ALTO-207

Phase 2 · Active

Target dopamine D3/D2; 5-HT3

Indications

not disclosed (Stage not disclosed)

Status note Phase 2b initiated May 2026. Acquired from Chase.

ALTO-208

Stage not disclosed · Active

Target dopamine D3/D2; NK-1

Indications

not disclosed (Stage not disclosed)

Status note Acquired from Chase with ALTO-207; stage and indication not disclosed in excerpt. Aggregate Chase milestones up to $71.5M.

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	ALTO-300
Lead indication	Major Depressive Disorder
Lead phase	Phase 2
Active trials	4

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05922878	Phase 2	Recruiting	Sponsor	Alto Neuroscience	—	Major Depressive Disorder	—
NCT07553637	Phase 2	Recruiting	Sponsor	Alto Neuroscience	—	Treatment-resistant Depression (TRD)	—
NCT06502964	Phase 2	Recruiting	Sponsor	Alto Neuroscience	—	Schizophrenia; Cognitive Impairment	—
NCT06656416	Phase 2	Recruiting	Sponsor	Alto Neuroscience	—	Bipolar Disorder I or II With a Major Depressive Episode	—

Sponsor-matched active trials from ClinicalTrials.gov (4 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 4 active trials for Alto Neuroscience on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Ikarian Capital	407,338	-107,662	1.76%	2026-08-14
OrbiMed Advisors	257,852	+90,352	0.13%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

ANRO — Alto Neuroscience Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders