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Alto Neuroscience(ANRO) - 2024 Q4 - Annual Results
ANROAlto Neuroscience(ANRO)2025-03-20 20:32

Financial Position - As of December 31, 2024, the company reported cash and cash equivalents of approximately 168million[9]−Thecompany′sfinancialclosingproceduresfortheyearendedDecember31,2024,arenotyetcomplete,andfinalresultsmaydiffermateriallyfrompreliminaryestimates[10]−Thepreliminaryfinancialdatapresentedissubjecttochangeandshouldnotberelieduponwithoutcaution[10]−Theindependentregisteredpublicaccountingfirmhasnotauditedorreviewedthepreliminaryfinancialdata[10]SalesAgreement−ThecompanyhasenteredintoaSalesAgreementwithLeerinkPartnersLLCtoofferandsellsharesofitscommonstock,withanaggregateofferingpriceofupto168 million[9] - The company's financial closing procedures for the year ended December 31, 2024, are not yet complete, and final results may differ materially from preliminary estimates[10] - The preliminary financial data presented is subject to change and should not be relied upon without caution[10] - The independent registered public accounting firm has not audited or reviewed the preliminary financial data[10] Sales Agreement - The company has entered into a Sales Agreement with Leerink Partners LLC to offer and sell shares of its common stock, with an aggregate offering price of up to 75 million[5] - The agent will receive a commission of up to 3.0% on the aggregate gross sales price per share sold under the agreement[6] - The Sales Agreement is incorporated by reference in the company's Registration Statement on Form S-3 filed on February 3, 2025[13] - The ATM Shares will be sold through "at the market offerings" as defined in Rule 415(a)(4) under the Securities Act[7] - The company has no obligation to sell any of the ATM Shares and may suspend or terminate the agreement at any time[7] Company Classification - The company is classified as an emerging growth company under the Securities Act of 1933[4]