Alto Neuroscience (ANRO) receives FDA Fast Track designation for ALTO-101 for the treatment of cognitive impairment associated with schizophrenia

IPO:  Feb 02, 2024; Alto Neuroscience (ANRO) priced 8.04 mln share (upsized from 6.7 mln shares) IPO at $16.00 per share, at the high end of the $14-16 expected range

Ticker: ANRO

 

 

 

 

 

 

Alto Neuroscience receives FDA Fast Track designation for ALTO-101 for the treatment of cognitive impairment associated with schizophrenia

• The FDA has granted Fast Track designation to ALTO-101 for the treatment of cognitive impairment associated with schizophrenia (CIAS). There are currently no approved treatments for CIAS, a core feature of schizophrenia that severely impacts daily functioning and quality of life for millions of patients. Fast Track designation is an FDA process designed to facilitate the development and expedite the review of drugs intended to treat serious conditions and fill an unmet medical need. A drug that receives Fast Track designation may be eligible for more frequent meetings with the FDA to discuss the drug's development plan, as well as eligibility for accelerated approval and priority review, if relevant criteria are met.
• Enrollment remains ongoing in a Phase 2 proof-of-concept study of ALTO-101 in patients with CIAS.