Alto Neuroscience Stock Soars Nearly 53% On FDA Fast Track Designation

(RTTNews) - Alto Neuroscience, Inc. (ANRO) surged 53.51 percent to $6.77 on Friday after the company announced that the U.S. Food and Drug Administration granted Fast Track designation to its investigational drug ALTO-101 for the treatment of cognitive impairment associated with schizophrenia. Shares opened at $4.76 and traded between $4.72 and $7.15 during the session, compared with a prior close of $4.41 on the New York Stock Exchange. Current bids are at $6.63 with asks at $6.64. Trading volume spiked to 42.47 million shares, far above the average of 100,207. The stock has traded between $1.60 and $15.04 over the past 52 weeks.

The PDE4 inhibitor has shown pro-cognitive effects in healthy volunteers, and a Phase 2 proof-of-concept trial in CIAS patients is ongoing.