Alto Neuroscience Shares Jump 79% On $50 Million PIPE Financing

(RTTNews) - Alto Neuroscience, Inc. (ANRO) shares soared 79.19 percent to $10.90, up $4.82 on Monday after announcing a private placement financing expected to raise approximately $50 million.

The funding, led by Perceptive Advisors with participation from other institutional investors, will support the development of ALTO-207, a fixed-dose combination for treatment-resistant depression, and enable initiation of Phase 2b and Phase 3 studies by 2026 and early 2027, respectively. The stock traded between $6.73 and $12.19 during the session on the New York Stock Exchange, compared with a previous close of $6.08. Volume surged to 15.99 million shares, well above the average of 1.13 million. The 52-week range is $1.60 to $14.85.