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Alto Neuroscience Appoints Nick Smith as President and CFO
Alto Neuroscience announced the promotion of Nick Smith to president and chief financial officer, effective August 26, 2026. Smith will continue to lead Alto's finance function and oversee corporate strategy and business development, reporting to Amit Etkin, M.D., Ph.D., Alto's founder, chief executive officer and chair of the board of directors. Smith joined Alto in 2021 as chief business officer and has served as chief financial officer since 2022. During his tenure, he has led Alto's corporate development and capital strategy, including the company's initial public offering, the acquisition of ALTO-207 in May 2025 and subsequent financings supporting the program's development.
Alto Neuroscience Strengthens ALTO-207 Development Outlook
"The second quarter further strengthened the case for ALTO-207 and our conviction in the opportunity ahead of it," said Amit Etkin, M.D., Ph.D., founder and chief executive officer of Alto Neuroscience. "The Nature Medicine publication of PRIME-PRAXOL provides another independent, peer-reviewed dataset showing that dopaminergic treatment produces large effects in depression, and, just as importantly, a reminder of the tolerability challenge that ALTO-207 is designed to address. With enrollment in our potentially registrational Phase 2b trial tracking as planned and pro forma cash of approximately $338 million, we are now positioned to pursue ALTO-207 in both the adjunctive and monotherapy settings, broadening the potential label and the commercial opportunity, with expected runway through 2030."
Alto Neuroscience Prices 3.77M Share Offering at $26.48 Each
Alto Neuroscience announced the pricing of an underwritten registered direct offering of 3,776,436 shares of its common stock at a price of $26.48 per share. All of the shares are being offered by Alto. The gross proceeds from the offering are expected to be approximately $100M, before deducting underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on July 14, subject to customary closing conditions. The financing was led by EcoR1 Capital and included participation from new and existing healthcare-focused investors. BofA Securities, Stifel, William Blair, and Baird are acting as the joint book-running managers for the offering. Jones is acting as co-manager for the offering.
Alto Neuroscience Publishes Prime-Praxol Study Results
Alto Neuroscience highlighted the publication in Nature Medicine of Prime-Praxol, an independent, randomized, double-blind, placebo-controlled trial of the dopamine agonist pramipexole in patients with mood disorders and clinically significant anhedonia. The study was conducted and independently funded by investigators at Lund University, Sweden. Adults with elevated baseline anhedonia symptoms with a diagnosis of major depressive disorder, dysthymia, or bipolar depression were randomized to flexible-dose pramipexole or placebo, added to ongoing treatment, for nine weeks, followed by a six-month open-label extension period. On the primary endpoint, pramipexole reduced anhedonia significantly more than placebo on the Snaith-Hamilton Pleasure Scale, with significant improvements on independent measures of anhedonia and apathy with improvements maintained through a six-month open-label treatment period.
Alto Neuroscience Appoints Dr. Andrew Miller to Board of Directors
Alto Neuroscience announced the appointment of Andrew Miller, Ph.D. to its Board of Directors, effective May 27, 2026. Most recently, Miller was the Founder and President of R&D at Karuna Therapeutics
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