Alto Neuroscience prices $93.9 million stock offering to fund ALTO-207 trial

Alto Neuroscience, Inc. entered into an underwriting agreement on July 13, 2026 with BofA Securities, Inc. acting as representative of the underwriters, to issue and sell 3,776,436 shares of common stock in an underwritten registered direct offering under an effective shelf registration statement on Form S-3.¹

The offering price is $26.48 per share of common stock.¹ The company estimates net proceeds of approximately $93.9 million after deducting underwriting discounts, commissions, and estimated offering expenses.¹ The underwriters also agreed to reimburse the company for certain expenses related to the offering.¹ Closing of the offering is expected on July 14, 2026, subject to customary closing conditions.¹

Alto Neuroscience said it intends to use the net proceeds, together with existing cash, to accelerate and expand clinical development of ALTO-207, including conducting an additional planned Phase 3 trial of ALTO-207 as monotherapy for treatment-resistant depression, along with general working capital purposes.¹

BofA Securities, Stifel, Nicolaus & Company, William Blair & Company, and Robert W. Baird & Co. are serving as joint book-running managers for the offering.¹ JonesTrading Institutional Services LLC and H.C. Wainwright & Co. are acting as co-managers.¹

Cooley LLP provided a legal opinion on the issuance and sale of the shares, filed as an exhibit to the filing.¹ The 8-K was signed by Amit Etkin, M.D., Ph.D., President and Chief Executive Officer, dated July 14, 2026.¹