MOUNTAIN VIEW, Calif., July 13, 2026--(BUSINESS WIRE)--Alto Neuroscience, Inc. ("Alto") (NYSE: ANRO), a clinical-stage biopharmaceutical company with a mission to redefine psychiatry by leveraging neurobiology to develop personalized and highly effective treatment options, announced today 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 $100.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on July 14, 2026, subject to customary closing conditions.
Alto intends to use the proceeds from the offering, together with its current cash and cash equivalents, to accelerate and expand the clinical development of ALTO-207, including to conduct an additional planned Phase 3 trial of ALTO-207 as monotherapy for the treatment of treatment-resistant depression, and for general working capital purposes.
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.
The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333- 284667), which was declared effective by the Securities and Exchange Commission (the "SEC") on February 11, 2025. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by email at syndprospectus@stifel.com; William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687 or by email at prospectus@williamblair.com; or Robert W. Baird & Co. Incorporated., 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202, Attention: Syndicate Department, by telephone at (800) 792-2473, or by email at syndicate@rwbaird.com.