Neuropsychiatry-Focused Alto Neuroscience's Mid-Stage Depression Trial Disappoints, Analyst Notes Failure Raises Concerns About Platform
Portfolio Pulse from Vandana Singh
Alto Neuroscience's Phase 2b trial for ALTO-100 in major depressive disorder failed to meet its primary endpoint, raising concerns about its platform. Despite the setback, analysts maintain an Outperform rating, focusing on future trials. ANRO stock dropped 67.70% following the news.
October 23, 2024 | 5:36 pm
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Alto Neuroscience's ALTO-100 failed to meet primary endpoints in a Phase 2b trial for major depressive disorder, causing a significant stock drop. Analysts remain optimistic about future trials, maintaining an Outperform rating.
The failure of the ALTO-100 trial to meet its primary endpoint is a significant setback for Alto Neuroscience, leading to a sharp decline in stock price. However, analysts maintain an Outperform rating, focusing on future trials, which suggests some confidence in the company's long-term strategy.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100