Alto maintains a conservative capital structure with a debt-to-equity ratio of 0.02 as of 2026Q1, supported by a total asset base of $276.3 million following recent equity financing.
| Total Current Assets | 269.13M | 177.72M | 169.34M | 85.39M | 49.22M | 27.68M |
| Cash & Short-Term Investments | 263.76M | 176.48M | 168.23M | 82.55M | 48.34M | 25.7M |
| Cash Only | 263.76M | 176.48M | 168.23M | 82.55M | 48.34M | 25.7M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 8K | 546K | 1.74M |
| Days Sales Outstanding | - | - | - | - | - | 3.03K |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 5.36M | 1.23M | 30K | 2.31M | 0 | 0 |
| Total Non-Current Assets | 7.13M | 6.97M | 8.21M | 1.24M | 1.63M | 1.11M |
| Property, Plant & Equipment | 6.29M | 6.13M | 7.7M | 1.11M | 1.58M | 1.06M |
| Fixed Asset Turnover | 0.00x | - | - | - | - | 0.20x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1M | 500K | 500K | 0 | 0 | 0 |
| Other Non-Current Assets | 838K | 338K | 4K | 131K | 55K | 50K |
| Total Assets | 276.26M | 184.69M | 177.54M | 86.63M | 50.85M | 28.79M |
| Asset Turnover | 0.00x | - | - | - | - | 0.01x |
| Asset Growth % | 21.44% | 4.03% | 104.95% | 70.35% | 76.61% | - |
| Total Current Liabilities | 13.12M | 11.32M | 10.01M | 5.61M | 5.56M | 1.81M |
| Accounts Payable | 3.37M | 1.88M | 1.58M | 1.07M | 1.61M | 600K |
| Days Payables Outstanding | 2.88K | 1.04K | 1.15K | - | 1.71K | 1.51K |
| Short-Term Debt | 2.14M | 585K | 0 | 0 | 283K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 7.61M | 8.86M | 0 | 0 | 3.54M | 1.19M |
| Current Ratio | 20.52x | 15.69x | 16.92x | 15.22x | 8.85x | 15.30x |
| Quick Ratio | 20.52x | 15.69x | 16.92x | 15.22x | 8.85x | 15.30x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 19.77M | 22.22M | 16.07M | 152.69M | 83.7M | 39.46M |
| Long-Term Debt | 3.56M | 3.82M | 11.56M | 9.86M | 81.7M | 38.16M |
| Capital Lease Obligations | 12M | 0 | 4.52M | 0 | 123K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 16.22M | 18.4M | 0 | 142.83M | 1.88M | 1.3M |
| Total Liabilities | 32.89M | 33.55M | 26.08M | 158.3M | 89.26M | 41.27M |
| Total Debt | 5.69M | 4.41M | 16.94M | 9.99M | 82.11M | 38.16M |
| Net Debt | -258.07M | -172.08M | -151.28M | -72.56M | 33.76M | 12.46M |
| Debt / Equity | 0.02x | 0.03x | 0.11x | - | - | - |
| Debt / EBITDA | 0.10x | - | - | - | - | - |
| Net Debt / EBITDA | -4.65x | - | - | - | - | - |
| Interest Coverage | -30.35x | -26.88x | -45.68x | -25.50x | - | - |
| Total Equity | 243.37M | 151.14M | 151.46M | -71.67M | -38.41M | -12.48M |
| Equity Growth % | 10.99% | -0.21% | 311.32% | -86.62% | -207.79% | - |
| Book Value per Share | 7.40 | 5.24 | 6.16 | -2.67 | -1.50 | -0.49 |
| Total Shareholders' Equity | 243.37M | 151.14M | 151.46M | -71.67M | -38.41M | -12.48M |
| Common Stock | 3K | 3K | 3K | 0 | 1K | 1K |
| Retained Earnings | -227.87M | -201.63M | -138.4M | -76.97M | -40.66M | -12.95M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 13K | 22K | -101K | -79K | -46K | -22K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Binary clinical trial outcomes
According to recent SEC filings, the company's total assets increased to $276.3 million in 2026Q1 from $184.7 million in 2025Q4, signaling a successful capital raise that provides a necessary buffer for ongoing R&D activities despite the persistent accumulation of a $227.9 million deficit in retained earnings.
The expansion of the asset base suggests management is prioritizing liquidity to fund its multi-asset pipeline through critical data readouts. However, the widening deficit in retained earnings highlights the inherent difficulty of sustaining a pre-revenue biotech model without continuous external capital injections.
Based on the company's reported figures, the cash position of $263.8 million in 2026Q1, coupled with a current ratio of 20.52, indicates a robust short-term liquidity profile that appears sufficient to fund clinical trial milestones for the foreseeable future without immediate reliance on dilutive financing.
The exceptionally high current ratio is a byproduct of the company's pre-commercial status and the lack of significant current liabilities. Investors should monitor whether this liquidity buffer remains stable as clinical trial site payments and vendor obligations accelerate in the coming quarters.
As reported in financial statements, the company maintains a conservative capital structure with a debt-to-equity ratio of 0.02 in 2026Q1, reflecting a strategic reliance on equity financing rather than debt to fund its high-risk, high-reward neurophysiological biomarker platform development.
The minimal debt load suggests that the company is avoiding the interest rate sensitivity and repayment pressures that often plague early-stage biotechs. This approach appears prudent given the binary nature of the company's clinical pipeline and the absence of predictable cash flows to service debt obligations.
Based on the company's reported figures, the shift from a negative equity position of $71.7 million in 2023Q4 to a positive $243.4 million in 2026Q1 highlights the impact of equity-based capital raises, which may mask the underlying economic dilution faced by long-term shareholders.
While the balance sheet appears healthier on a headline basis, the reliance on equity issuance to bridge the R&D funding gap warrants further investigation into the potential for future share count expansion. Investors should consider whether the current valuation adequately accounts for the dilutive cost of funding the company's ambitious clinical roadmap.
Quick answers to the most common questions about buying ANRO stock.
As of 2025, Alto Neuroscience, Inc. (ANRO) had total assets of $184.7M including $177.7M in current assets.
Alto Neuroscience, Inc. (ANRO) carries total debt of $4.4M, offset by $176.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Alto Neuroscience, Inc. (ANRO) has total shareholders' equity (book value) of $151.1M ($5.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Alto Neuroscience, Inc. (ANRO) reported a current ratio of 15.69x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.