ANRO
Alto Neuroscience, Inc.
Last earnings -7.2% on 2026-05-13
$27.04
▲ +6.88%$27.04▲ +1070.56%
over 1Y
L $2.22EODHDH $27.72
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+6.9%
1W+6.9%
1M+32.3%
3M+31.9%
YTD+63.0%
1Y+1070.6%
Avoid
Conviction
Horizon
Medium (3–12mo)
Street · 18 analysts
Strong Buy
Cash-burning clinical-stage biotech with no revenue, mounting dilution, and binary trial outcomes — speculative, not investable.
Net income -$63.2M · FY2025
Alto Neuroscience is a clinical-stage biopharma with zero product revenue across FY2023-FY2025 and an accumulated deficit of -$201.6M as of Dec 31, 2025. The numbers tell a stark story: net losses widened to -$63.2M in FY2025 (from -$61.4M in FY2024 and -$36.3M in FY2023), operating cash flow worsened to -$51.8M (YoY -9.2%), and ROE is -41.8%. Management explicitly states in the MD&A that 'we expect to continue to generate operating losses and negative operating cash flows for the foreseeable future' and that operating expenses 'will increase substantially' as ALTO-207 advances into Phase 2b/3 alongside five other pipeline assets. This is the textbook profile of a binary-outcome biotech.
Financials · annual, by fiscal year
| Line item | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | — | — | — |
| Gross profit | — | — | — |
| Operating income | -$37.8M | -$68.6M | -$66.4M |
| Net income | -$36.3M | -$61.4M | -$63.2M |
| Diluted EPS | -$9.73 | -$2.50 | -$2.19 |
| Net margin | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$704M
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-7.3%
FCF yield-6.0%
Quality & risk
ROIC (est.)-31.2%
Free cash flow-$51.8M
Total debt$16.8M
Net cash$160M
Piotroski F-Score2/7
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+18.0%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Officer / director change2026-05-28
Executive/director transition disclosed under Item 5.02
- 8-K Officer / director change2026-05-13
Q1 2026 10-Q: ongoing R&D burn, no revenue, runway supported by cash
- 8-K Earnings results2026-05-13
Q1 2026 10-Q: ongoing R&D burn, no revenue, runway supported by cash
- 10-Q Quarterly report2026-05-13
Q1 2026 10-Q: ongoing R&D burn, no revenue, runway supported by cash
- S-3 Shelf registration (potential raise)2026-04-10
Shelf registration filed — preserves access to dilutive equity issuance
- 8-K Other event2026-04-01
Other-event disclosure, likely program/pipeline update
- DEF 14A Proxy statement2026-03-26
Proxy filed for annual meeting; routine governance items
- 8-K Material agreement2026-03-16
FY25 loss $63.2M, $176M cash, Oct '25 PIPE raised $49.7M; share count +18%
- 8-K Earnings results2026-03-16
FY25 loss $63.2M, $176M cash, Oct '25 PIPE raised $49.7M; share count +18%
Recent filings
all on EDGAR ↗4Period ending 2026-05-272026-05-29open ↗3Period ending 2026-05-272026-05-29open ↗8-KPeriod ending 2026-05-272026-05-28open ↗4Period ending 2026-05-142026-05-15open ↗SCHEDULE 13G/AFiling2026-05-15open ↗SCHEDULE 13G/AFiling2026-05-15open ↗SCHEDULE 13G/AFiling2026-05-15open ↗SCHEDULE 13GFiling2026-05-15open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗
Frequently asked
- Is Alto Neuroscience, Inc. (ANRO) a buy?
- ANRO currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. Cash-burning clinical-stage biotech with no revenue, mounting dilution, and binary trial outcomes — speculative, not investable.
- What is Alto Neuroscience, Inc.'s quality score?
- ANRO scores 41.4102564102564/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001999480, latest 10-Q filed 2026-05-13) · EODHD · analysis by claude-code · as of 6/25/2026, 2:50:10 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.