Apr. 19 at 2:14 AM
$ANRO is a mystery to me. The market rewarded the company each time it drug failed or provided "success" without achieving primary endpoint. There is not really any value in the stated "precision psychiatry" platform either due to repeated failures. Recently, it pulled a "miracle" in 2025 by buying a "statistically significant" showing drug in treatment resistant depression (ALTO 207) for 1.75 million upfront and other milestones. Oh the poor selling company. Now
$ANRO is selling the already established "significance" to raise expectations and increase its valuation after abysmal performance in last two years. There maneuver with ALTO 300 was equally interesting but it is an old biotech trick; increase the sample size as study was not powered appropriately. What were you doing when the study was designed for phase 2b? Could this be that interim results showed it was hard to reach significance? Buy sometime by changing design? ALT 100, 101, 300 either failed or highly likely to fail.
