The biotech firm priced 3.77 million shares in a registered direct offering to fund operations and pipeline development.
Alto Neuroscience priced a $100 million underwritten registered direct offering of 3.77 million common shares at $26.48 per share. All shares are being sold by the company, with proceeds earmarked for general corporate purposes and advancing its neuroscience drug pipeline.
The offering follows recent clinical progress in Alto’s lead programs targeting depression and PTSD. No prior public stock offering was disclosed in the company’s recent filings, though private placements have supported earlier funding rounds.
Shares of Alto Neuroscience were halted in pre-market trading ahead of the announcement.