JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
MOUNTAIN VIEW, Calif. - Alto Neuroscience, Inc. (NYSE:ANRO), a clinical-stage biotech company currently trading at $3.18 per share, announced the appointment of Raymond Sanchez, M.D., to its Board of Directors, effective August 12, 2025. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 22.5x, though it faces profitability challenges.
Dr. Sanchez currently serves as a Senior Advisor at Bain Capital Life Sciences, a position he has held since September 2024. He previously worked as Chief Medical Officer of Cerevel Therapeutics Holdings, Inc. until August 2024 when the company was acquired by AbbVie Inc. The appointment comes as Alto Neuroscience, with a market capitalization of $86 million, focuses on strengthening its leadership team.
Prior to Cerevel, Dr. Sanchez spent over 11 years at Otsuka Pharmaceutical Development & Commercialization, Inc., ultimately serving as Senior Vice President of Global Clinical Development. He also briefly served as Chief Medical Officer of Avanir Pharmaceuticals.
Dr. Sanchez brings more than 20 years of experience in the life sciences industry to Alto, which focuses on developing precision medicines for neuropsychiatric disorders. He trained in psychiatry at the Yale School of Medicine, where he served as Chief Resident, fellow, and instructor.
Amit Etkin, M.D., Ph.D., founder and CEO of Alto Neuroscience, noted that Dr. Sanchez’s experience would be valuable as the company prepares to initiate its Phase 2b trial of ALTO-207.
Alto Neuroscience’s clinical pipeline includes drug candidates targeting bipolar depression, major depressive disorder, treatment resistant depression, and schizophrenia.
The information in this article is based on a company press release statement. Investors should note that Alto Neuroscience is scheduled to report earnings on August 19, 2025. InvestingPro subscribers can access additional insights, including 8 more ProTips and detailed financial metrics to better evaluate the company’s prospects.
In other recent news, Alto Neuroscience announced a repricing of certain employee and consultant stock options to $2.35 per share, affecting 4,225,763 shares under the company’s 2019 and 2024 Equity Incentive Plans. This adjustment does not include options held by non-employee directors. Additionally, the company plans to advance its depression drug, ALTO-207, into a Phase 2b trial for treatment-resistant depression by mid-2026, following promising results published in The Lancet Psychiatry. The study showed significant symptom reduction with pramipexole, although high rates of adverse effects were noted.
H.C. Wainwright has reiterated a buy rating and set a $10.00 price target on Alto Neuroscience, following the release of top-line data from a Phase 2 trial of ALTO-203, a non-stimulant histamine H3 inverse agonist. William Blair also maintained its outperform rating on the company, citing evidence of predicted activity and cognitive improvements in ALTO-203 trials. Stifel held its Buy rating and $10.00 price target despite mixed results from the ALTO-203 trial, which showed reductions in a target EEG biomarker but did not meet the primary endpoint on the mood scale. These developments reflect the ongoing progress and challenges in Alto Neuroscience’s clinical trials and strategic initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.