NYSE: ANRO Lawsuit Alert: Investors who lost money with shares of Alto Neuroscience, Inc. (NYSE: ANRO) should contact the Shareholders Foundation

An investor, who purchased shares of Alto Neuroscience, Inc. (NYSE: ANRO), filed a lawsuit over alleged violations of Federal Securities Laws by Alto Neuroscience, Inc. in connection with certain allegedly false and misleading statements made between February 2, 2024 and October 22, 2024 and in connection with the Company's initial public offering conducted on or about February 2, 2024 (the "IPO" or "Offering").

Investors who purchased shares of Alto Neuroscience, Inc. (NYSE: ANRO) have certain options and for certain investors are short and strict deadlines running. Deadline: September 19, 2025. NYSE: ANRO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Mountain View, CA based Alto Neuroscience, Inc. operates as a clinical-stage biopharmaceutical company in the United States.

The Company's product pipeline includes, inter alia, ALTO-100, which at the time of the IPO was in a Phase 2b clinical trial for the treatment of patients with major depressive disorder ("MDD"). Also has touted ALTO-100 as "a novel small molecule that has shown evidence of a pro-neurogenesis/neuroplasticity mechanism of action" and has stated that the Company "believe[s] binds a receptor not targeted by other [central nervous system ("CNS")] therapeutics, which would make it first-in-class if approved."
On January 12, 2024, Alto Neuroscience, Inc. (NYSE: ANRO) filed a registration statement on Form S-1 with the United States Securities and Exchange Commission ("SEC") in connection with the IPO, which, after several amendments, was declared effective by the SEC on February 1, 2024 (the "Registration Statement").

On February 2, 2024, pursuant to the Registration Statement, Alto's common stock began publicly trading on the New York Stock Exchange under the ticker symbol "ANRO."

On February 5, 2024, Alto Neuroscience, Inc. (NYSE: ANRO) filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (the "Prospectus" and, collectively with the Registration Statement, the "Offering Documents").

Pursuant to the Offering Documents, Alto Neuroscience, Inc. (NYSE: ANRO) issued 8,040,000 shares of its common stock to the public at the Offering price of $16.00 per share for proceeds of $119,635,200 to the Company after applicable underwriting discounts and commissions, and before expenses.

On October 22, 2024, Alto Neuroscience, Inc. (NYSE: ANRO) announced topline results from the Phase 2b trial evaluating ALTO-100 as a treatment for MDD. That press release stated, in relevant part, that "ALTO-100 in patients with [MDD] did not meet its primary endpoint, assessed by a change from baseline in Montgomery-Åsberg Depression Rating Scale (MADRS), compared to placebo."

Analysts were quick to comment on the Company's announcement. For example, on October 22, 2024, Jeffries cut its price target for Alto Neuroscience, Inc. (NYSE: ANRO) to $17 from $33 and stated that ALTO-100's data raises questions around the Company's overall biomarker approach to CNS disorders and psychiatry.

Shares of Alto Neuroscience, Inc. (NYSE: ANRO) declined from $24.00 per share on February 05, 2024, to as low as $1.60 per share on April 04, 2025.

The plaintiff claims that the Offering Documents that were filed in connection with the Company's IPO conducted on or about February 2, 2024 and that certain statements made by the defendants between February 2, 2024 and October 22, 2024 were false and/or misleading statements and/or failed to disclose that ALTO-100 was less effective in treating MDD than Defendants had led investors to believe, that accordingly, ALTO-100's clinical, regulatory, and commercial prospects were overstated, that as a result, Alto's business and/or financial prospects were overstated, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Alto Neuroscience, Inc. (NYSE: ANRO) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.