The IPO Buzz: Alto Neuroscience (ANRO) & Fractyl Health (GUTS) Launch February IPOs

Two biotechs – Alto Neuroscience and Fractyl Health – pumped some warm air into the chilly February IPO Calendar early today. Both companies disclosed IPO terms in S-1/A filings early Monday morning, Jan.  29, 2024. Both IPOs are set for pricing Thursday night, Feb. 1, 2024, to trade Friday, Feb. 2, 2024: Alto Neuroscience (ANRO proposed) on the New York Stock Exchange and Fractyl Health (GUTS proposed) on the NASDAQ.

Alto Neuroscience (ANRO proposed), a clinical biotech developing psychiatric drugs, plans to offer 6.7 million shares at $14.00 to $16.00 to raise $100.5 million.

Jefferies, TD Cowen, Stifel, William Blair and Baird are the joint book-runners of Alto Neuroscience’s IPO.

Fractyl Health (GUTS proposed), a metabolic therapeutics company targeting Type 2 diabetes and obesity, plans to offer 7.33 million shares at $14.00 to $16.00 to raise $109.95 million.

BofA Securities, Morgan Stanley and Evercore ISI are the joint book-runners of Fractyl Health’s IPO.

Alto Neuroscience, Inc., based in Los Altos, California, is using brain-based biomarkers to develop drugs to treat major depression and schizophrenia, the prospectus says.

Fractyl Health, based in Lexington, Massachusetts, is pioneering an ablation treatment of the duodenal mucosa as a metabolic therapy targeting Type 2 diabetes and obesity, according to the prospectus. Fractyl Health is also developing an adeno-associated virus (AAV) as a pancreatic gene therapy to treat the pancreatic islet cells of patients with Type 2 diabetes and obesity.

(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)

Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.

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Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.

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