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California Biotech Co. Advances Depression Drug Breakthrough
Alto Neuroscience Inc. (ANRO:NYSE) is shifting its focus to ALTO-207, a drug targeting treatment-resistant depression, after mixed results from its ALTO-101 trial for cognitive impairment associated with schizophrenia. Despite the ALTO-101 setback, the company is moving forward with ALTO-207, planning a Phase 2b clinical trial, and has garnered ‘Buy’ and ‘Outperform’ ratings from multiple analysts who see significant market potential in addressing mental health conditions. The global market for psychotropic medications is projected to reach US$30 billion by 2030, driven by increased prevalence of mood disorders and improved diagnostics.