Mid-stage CNS biotech Alto Neuroscience plots $89M IPO

Al­to Neu­ro­science joined Fractyl Health in out­lin­ing its IPO price range on Mon­day morn­ing as the two biotechs look to build on the mo­men­tum gen­er­at­ed by CG On­col­o­gy and Ar­riVent Bio­phar­ma last week.

The mid-stage CNS biotech plans to raise about $89 mil­lion in IPO pro­ceeds if it prices at the mid­point of its pro­posed $14 to $16 range. Al­to ex­pects to sell 6.7 mil­lion shares $AN­RO in its de­but on the NYSE, like­ly lat­er this week. Most biotech star­tups list on the Nas­daq, but the NYSE has been at­tempt­ing to grow its life sci­ences ros­ter in re­cent years.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.