#KahliBuds #MMJ #CBD #THC

Clinical-stage biopharmaceutical firm Alto Neuroscience Inc. (NYSE: ANRO) gave a business update alongside its first quarter 2024 financials ending March 31.

Alto reported cash and equivalents of $205.9 million at the end of March, expected to fund operations into 2027. R&D expenses rose to $10 million from $5.6 million a year ago, driven by costs for the ALTO-100 and ALTO-300 studies.

The net loss for the quarter was $13.4 million versus $7.3 million in the same period last year, reflecting higher R&D investment and public company costs. Alto went public in February via an upsized $133 million IPO.

“Our team’s commitment to developing personalized therapies for the brain is exemplified by our continued clinical execution and the recent progress across our pipeline,” CEO Amit Etkin said in a statement. He pointed to five Phase 2 studies initiated since the company’s inception.

On the pipeline front, Alto announced the initiation of a Phase 2 proof-of-concept study evaluating its compound ALTO-203 in patients with major depressive disorder (MDD) and increased levels of anhedonia, or inability to feel pleasure. Topline data is expected in the first half of 2025.

ALTO-203 is an oral small molecule that acts as a histamine H3 inverse agonist, with demonstrated effects on dopamine release and positive subjective emotion measures in prior studies.

For its lead asset ALTO-100, a Phase 2b study in 266 MDD patients is ongoing, with topline results anticipated in the second half of this year. ALTO-100 is designed to enhance neural plasticity.

Another Phase 2b study is underway for ALTO-300 (agomelatine) as an adjunctive MDD therapy, with data expected in the first half of 2025.

The company also reported positive Phase 1 results for ALTO-101, a novel transdermal PDE4 inhibitor being developed for cognitive impairment associated with schizophrenia (CIAS). Alto plans to initiate a Phase 2 proof-of-concept CIAS study in the first half of 2024.

The post Well-funded Alto Neuroscience’s losses widen in the first quarter appeared first on Green Market Report.

420GrowLife

via www.KahliBuds.com

Adam Jackson, KahliBuds, 420GrowLife