Alto Neuroscience, Inc. has reported its financial results for the first quarter ended March 31, 2025. The company recorded a net loss of $15.2 million, an increase from the $13.4 million net loss in the same period of 2024. Research and development expenses remained steady at $10.0 million for the quarter compared to the previous year. However, general and administrative expenses rose to $5.7 million from $4.4 million, primarily due to increased headcount and operational requirements, along with costs associated with being a public company, including $0.3 million in non-cash, stock-based compensation. Alto Neuroscience maintains a strong cash position of approximately $161.3 million, expected to support its planned operations into 2028 and through at least four upcoming clinical study readouts. The company continues to advance its clinical trials, with significant developments in its pipeline. Topline data from the Phase 2 proof-of-concept trial of ALTO-203 for major depressive disorder (MDD) is anticipated in the second quarter of 2025, with ALTO-101 for schizophrenia following in the second half of 2025. Additionally, late-stage trials are progressing, with results from the Phase 2b trial of ALTO-300 in MDD expected in mid-2026, and ALTO-100 in bipolar depression in the second half of 2026.