Alto Neuroscience gains on depression drug acquisition deal
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Shares of drug developer Alto Neuroscience ANRO.N rise 17% to $3.04 premarket
Alto says it has acquired a depression drug, ALTO-207, from Washington-based firm Chase Therapeutics
Deal includes an upfront payment of $1.75 mln with potential future payments of up to $71.5 mln to Chase, based on development and commercial milestones
ALTO-207 combines pramipexole, a drug used to treat Parkinson's disease, with ondansetron, to treat resistant depression, co says
As of last close, stock down 38.5% YTD
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