06:55 AM EDT, 06/03/2025 (MT Newswires) -- Alto Neuroscience ( ANRO ) said Tuesday that it has signed an asset purchase agreement to acquire a portfolio of dopamine agonist drug combinations from Chase Therapeutics for $1.8 million.

Alto said Chase will also be eligible for up to $71.5 million in milestone payments.

Alto said the portfolio's most advanced program is ALTO-207, which is being developed for treatment-resistant depression or TRD. Alto also said it plans to start a phase 2b trial of ALTO-207 in patients with TRD by mid-2026, with topline data expected in 2027.

Additionally, Alto said its financial guidance remains unchanged and its current cash balance is expected to support planned operations into 2028.

Shares of Alto Neuroscience ( ANRO ) were up over 16% in recent premarket activity Tuesday.