The Life Sciences Report

Canadian Biotech Co. Appoints Elite Regulatory Expert for Chile Expansion

Wed, 08 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/08/2026

MindBio Therapeutics Corp. (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt) appoints Chilean policy leader Felipe Leyton for the mining rollout of its AI impairment detection tech.

MindBio Therapeutics Corp. (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt) announced the appointment of Chilean drug policy specialist Felipe Leyton as head of commercialization in its South American mining industry market. On February 24, 2026, OTC Markets called this move a ". . . significant inflection point as MindBio transitions from advanced development to commercial field deployment.

Felipe Leyton has served as the head of Chile's National Alcohol Prevention Unit, as well as the head of other national prevention programs. He was the lead of technical operation and implementation of Chile's Zero Tolerance alcohol law and contributed to the creation of Chile's national roadside drug testing program in 2019. Working with MindBio won't be Leyton's first foray into the mining industry, as he is currently a partner at TC Consulting. There, his job is to advise Chilean mining operators and governments on drug and alcohol prevention strategies, regulatory compliance, workplace health promotion, and industrial safety culture transformation.

In his role with MindBio, Leyton is anticipated to develop and finalize mining-specific testing protocols with the company, refine the AI prediction models, help strengthen the kiosk's ability to detect abuse of multiple illicit substances, develop licensing frameworks with working mines, and oversee deployment into said mines.

Justin Hanka, CEO of MindBio, said of Leyton's employment, "Mr. Leyton brings exceptional credibility, regulatory authority, and direct access to the mining industry. He helped design and implement Chile's Zero Tolerance alcohol framework at a national level, and he now leads the commercialization in a world-first AI voice-based impairment detection platform for mining. This marks a transition from technology development to structured commercial deployment. We believe this positions MindBio at the forefront of next-generation industrial safety solutions and Voice initiated health diagnostic technologies."

The Company's Development

MindBio Therapeutics is a Canadian biotech company levering AI technology to detect impairment from drugs or alcohol through voice analysis. The company is developing software that could help reduce intoxication-related accidents in both corporate and personal settings. Its proprietary technology analyzes over 140 vocal markers, sifting through parameters like spectral entropy, jitter, and shimmer, and speech rate variability.

The company hopes to help create ". . . a world where voice-based biomarkers are a standard component of healthcare — enabling continuous, passive health monitoring that catches problems early and improves outcomes for everyone, everywhere."

MindBio's personal-use app, Booze AI, is described as "the world's first voice-activated AI-powered blood alcohol test" and is deployed via smartphone. The app is now live and available to the public. The company aims to promote social responsibility, personal awareness, and harm prevention among individual users.

In a move toward corporate usage, MindBio has focused its attention on commercial applications and is currently building Edge-AI kiosks to implement non-invasive intoxication screenings at large mining sites.

In a conversation with Streetwise Reports, MindBio CEO, Justin Hanka, discussed the expense of screening mining employees for intoxication: "In Chile, there are about 220,000 mining workers going on and off site every day. If you had to test 10% of them every day — that's 20,000 workers. If you were charged just US$1 for every test, that's US$20,000 a day, seven days a week . . . and that's just one part of the world, and two mining sites."

MindBio aims to provide the benefits of screening in zero-tolerance industries without the usual pitfalls of being invasive, time-consuming, and seemingly targeting. "The core reason why a company wants to do this is that 25% of incidents are caused by alcohol and drug intoxication, directly or indirectly," Hanka said to Streetwise Reports.

Currently, MindBio is developing inroads into the mining, aviation, construction, and law enforcement industries.

Addiction in the Mining Industry

In a recent market presentation, MindBio asserted that detecting drug and alcohol intoxication at scale can prevent unnecessary harm. The company discussed how physiological decline can put lives at risk, citing the dangers of impaired driving and a 10-20x increase in suicide risk while heavily intoxicated. MindBio also said that 40-50% of suicides involve alcohol, while the global alcohol harm cost sits at around US$1.6 trillion.

According to the American Addiction Centers, many factors contribute to addiction and abuse risk, like parental monitoring, peer pressure, socioeconomic status, type of substance, stress, drug availability, and occupation. They classified the mining industry as "particularly conducive to substance abuse," due to job stress, physical demand, and injuries from prolonged work.

Outside the addiction sphere, biotech, in general, has shown exponential growth recently. "The global biotechnology market size was estimated at US$1.55 trillion in 2023 and is projected to reach US$3.88 trillion by 2030, growing at a CAGR of 13.96% from 2024 to 2030," said Grandview Research. And AI is carving out its own place in biotech. In September 2025, Market and Market Analysis considered the AI detector market as "undergoing rapid expansion, with estimates projecting a substantial market value surge from approximately US$0.58 billion in 2025 to US$2.06 billion in 2030."

Industry Professionals Watching Rollout

¹"AI stocks are bottoming, and flashing buy signals . . . and MindBio leads the pack," wrote Stewart Thomson in a contributed technical analyst opinion for Streetwise Reports on April 1, 2026. Thomson argued that AI can be critical to creating a safer mining industry, saying, "MindBio's AI decodes these acoustic signatures to reveal physiological states and does it with unprecedented precision." Thomson gave MindBio a 'Strong Speculative Buy' rating and a long-term price target of CA$6.00.

On February 3, 2026, The Canadian Mining Journal reported that, "Studies in Chile reveal that alcohol consumption among mining workers exceeds 75%, with over 40% classified as problem drinkers." The article went on to say, "A single preventable incident can cost a mining company hundreds of millions in lost production, union boycotts, and insurance and medical expenses."

Knowlton Thomas, for Techcouver, wrote on January 26, 2026, that ". . . Leveraging more than 50 million data points from drug and alcohol clinical trials and proprietary algorithms across over 100 acoustic parameters, MindBio is now commercializing its technology."

"AI stocks are bottoming, and flashing buy signals . . . and MindBio leads the pack." [OWNERSHIP_CHART-11539]

Deployment Planned Mid-2026

In its investor presentation, MindBio states it aims to deploy its Edge AI voice drug and alcohol detection kiosks in June of 2026 in order to test at scale in zero-tolerance industries. The company is already partnering with mines in South America and is in talks with other industries.

While enterprise and telehealth capacities are in development right now, the company's announced future plans include disease prediction and health optimization.

Ownership & Share Structure²

MindBio Therapeutics Corp. has a market cap of CA$7.9 million, with 7.28 million shares outstanding. The company's 52-week trading range is CA$0.50-CA$8.00.

Management and Insiders own approximately 5.80% of MindBio Therapeutics shares, with Retail investors holding the remaining 94.20%.

Important Disclosures:

MindBio Therapeutics Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of MindBio Therapeutics Corp.
Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

1. Disclosure for the quote from the Stewart Thomson article published on [Date]

For the quoted article April 1, 2026, MindBio Therapeutics Corp. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

For additional disclosures, please click here.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt, )

California Biotech Co. Advances Depression Drug Breakthrough

Tue, 07 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/07/2026

Alto Neuroscience Inc. (ANRO:NYSE) pivots after mixed trial results, targeting treatment-resistant depression with analyst support and major market growth potential.

Alto Neuroscience Inc. (ANRO:NYSE) released results of its Phase 2 proof-of-concept trial for ALTO-101 on April 1, 2026. The proprietary drug is intended to treat cognitive impairment associated with schizophrenia (CIAS).

The trial showed that ALTO-101 did not achieve statistical significance, as observed on primary electroencephalography (EEG) or cognitive endpoints, compared to the placebo offered. However, the drug did show some improvements. ". . . The study demonstrated directional improvements across certain EEG measures, including a near-significant effect on theta-ITC (n=83, d=0.34, p=0.052) — a measure correlated with cognitive performance across datasets. In a pre-specified analysis in a more cognitively impaired subgroup (n=59), ALTO-101 exhibited nominally significant effects on theta-ITC compared to placebo (d=0.44, p=0.03). Further, certain EEG measures, including theta-ITC, showed improvements from day 5 to day 10 in the trial, suggesting a longer treatment period may elucidate greater effects," according to Businesswire on April 1, 2026. ALTO-101 also showed roughly equal rates of nausea and vomiting compared to the placebo, which is remarkable for a PDE4 inhibitor pharmaceutical class.

Alto has created an oral version of ALTO-101 and hopes to find uses for it within various partnerships.

The company is now turning its focus to a different drug, ALTO-207, which is formulated to battle treatment-resistant depression. Alto is on track to initiate a Phase 2b clinical trial in the first half of this year. The drug is ". . . a fixed-dose combination of pramipexole (a dopamine D3/D2 agonist) and ondansetron (a 5-HT3 antagonist), designed to enable rapid titration to higher pramipexole doses by mitigating dose-limiting nausea and vomiting."

In a statement by the company, Founder and CEO Amit Etkin, M.D., Ph.D. said, "While we are disappointed that the ALTO-101 data did not deliver the signal we were seeking, it is an exploratory program, and we remain heavily focused on ALTO-207, our most advanced program in development for treatment -resistant depression — which is supported by strong prior clinical data and external validation. We appreciate the commitment of the patients and clinical teams who participated in the ALTO-101 trial. We are excited about our oral, modified-release formulation of ALTO-101 to potentially provide benefit to patients, and we intend to seek partnering opportunities to drive future value for this program.”

Alto Neuroscience Inc. describes itself as ". . . on a mission to redefine psychiatry by leveraging neurobiology to develop personalized and highly effective treatment options. The company is headquartered in California.

A Growing Mental Health Market

"Mental health conditions are becoming more common due to various societal, economic, and personal stressors. According to the World Health Organization (WHO), depression is a leading cause of disability globally, affecting more than 280 million people. Similarly, anxiety disorders impact a large portion of the population, often co-occurring with depression and other mental health conditions," according to a 2025 article by Global Market Insights. Rates of depression climbed during the COVID-19 pandemic and have stayed elevated.

PR Newswire called out Alto Neuroscience as a major leader in bipolar depression treatment development in a March 11, 2026, article. The same article projected that the bipolar depression treatment market will grow in the next 10 years and noted that the U.S. was the largest market for depression treatment in 2025. America's young population, the 3.4% of Americans between 18 and 25, is the largest target market.

Improved diagnostic tools and stress-related lifestyle changes, along with genetic predisposition, are expected to increase cases of bipolar depression in the next 10 years.

An article from Behavioral Health News in the fall of 2025 said, "The global market for psychotropic medications is currently valued at US$23 billion, and it is expected to reach US$30 billion by 2030." This rise has been attributed to ". . . age-related increase in the prevalence of mood disorders, widespread use of antidepressant medications among primary care providers, and initiatives driven by health insurers that incentivize 'adherence to' prescription medication regimens, among many others."

Alto Neuroscience Gets Buy and Outperform Ratings

Multiple analysts have offered research reports about Alto Neuroscience over the past month, all focused on ALTO-207's upcoming trials.

On March 16, 2026, Andrew Tsai, Matthew Barcus, John Cox, and Brian Balchin of Jeffries released a research report giving Alto Neuroscience a 'Buy' rating, with a target price of US$35.00, which they raised from US$25.00. Their reasoning included upcoming data from drugs the company is developing to treat CIAS schizophrenia, major depressive disorder, and bipolar depression.

Stifel released a research report from Paul Matteis on March 17, 2026, stating, "We remain Buy rated on ANRO following their 4Q25 earnings, which was an in-line report. Most importantly for the stock, ANRO remains on track to initiate the ph2b TRD study for ALTO-207 (pramiprexole+ondansetron) in 1H26 — in our view, '207 is ANRO's most compelling asset given the strength of the data for pramipexole for depression, the successful examples of two drug combos in neuropsych (Auvelity, KarXT), and the accelerated development timelines, with a ph3 expected to initiate in early 2027." Matteis gave Alto Neuroscience a target price of US$33.00.

On March 18, 2026, Patric Trucchio of H.C. Wainwright & Co. gave Alto a 'Buy' rating. Upon seeing Alto's 2025 financial reports, Trucchio wrote, "We updated our model with the financials from the 2025 10-K filing, added the raise, and fine-tuned our expense estimates. Altogether, these changes left our price target unchanged at US$50 per ALT share."

Myles Minter, John Boyle, and Jake Batchelder of William Blair released a research report on March 19, 2026, and gave Alto an 'Outperform' rating. They said, "We view Alto's ALTO-207 as intriguing given promising PAX-D clinical trial data in treatment-resistant depression (TRD) and PRIME-PAXOL indicating leading efficacy on anhedonia." They listed an updated probability-adjusted NPV fair value of US$40.35.

FactSet reported the following analyst ratings and target prices:

On March 31, 2026, Jefferies analyst Andrew Tsai gave the company a Buy rating with a target price of US$35.
On April 1, 2026, JonesTrading analyst Justin Walsh gave the company a Buy rating with a target price of US$44.
On April 1, Chardan analyst Keay Nakae gave the company a Buy rating with a target price of US$30.
On April 1, 2026, BTIG analyst Thomas Shrade gave the company a Buy rating with a target price of US$28.
On April 1, 2026, TD Cowen analyst Ritu Baral gave the company a Buy rating with no target price.
On April 1, an unnamed analyst gave the company an Overweight rating with a target price of US$38.
On April 1, 2026, WedBush Laura Chico gave the company a Hold rating with a target price of US$21.
On April 1, 2026, H.C. Wainwright & Co. Analyst Patrick Trucchio gave the company a Buy rating and a target price of US$50.
On April 6, 2026, William Blair analyst Myles Minter gave the company a Buy rating with a target price of US$38.20.

Multiple Drugs in Development

Etkin discussed the company's intended forward direction in the April 1 press release, saying, "Alto enters this moment from a position of real strength: we have multiple clinical programs advancing, a US$275 million cash position, and ALTO-207 — which we believe is one of the most compelling and independently validated mechanisms in psychiatry — on track to imminently enter a Phase 2b trial. [OWNERSHIP_CHART-11463]

Our focus remains squarely on executing for patients and shareholders across our pipeline."

Alto believes it is poised to bring ALTO-207 into a Phase 3 trial after a 2025 FDA meeting. The company hopes to also complete an NDA submission for the drug. Another drug, ALTO-300, meant to treat major depressive disorder, is set to begin Phase 2b trials in mid-2026.

Ownership & Share Structure¹

Alto Neuroscience Inc. has a market cap of US$719.73 million, with 31.95 million shares outstanding.

The company has a 52-week range of US$1.64-US$25.17.

Management and Insiders own 6.44% of shares, while Institutions own 65.69%.

The remaining 27.97% of shares are Retail.

Important Disclosures:

As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Alto Neuroscience Inc.
Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: ANRO:NYSE, )

San Francisco Pharma Co.'s HORIZON Phase 2 Data Validates APOL1 Path to Pivotal Trial

Tue, 07 Apr 2026 00:00:00 PST

Source: Dr. Ananda Ghosh 04/07/2026

H.C. Wainwright reiterated its rating and price target on Maze Therapeutics (MAZE:NASDAQ), following KOL calls that validated the HORIZON Phase 2 dataset as biologically coherent, confirmed the diabetic cohort signal as drug-attributable proof of concept, and outlined a clear path to pivotal trials.

Published April 7, 2026, analysts Ananda Ghosh, PhD, and Andrew S. Fein of H.C. Wainwright & Co. reiterate their Buy rating on Maze Therapeutics Inc. (MAZE:NASDAQ), with a price target of US$110.00, implying approximately 279% upside from the current share price of US$29.00.

The rating follows the company's HORIZON Phase 2 topline readout and subsequent key opinion leader (KOL) consultations, which reinforced the analysts' conviction in the APOL1 inhibition mechanism and the path to a pivotal trial.

HORIZON Phase 2 Results and KOL Perspectives

Following the HORIZON readout, H.C. Wainwright convened two KOL calls with leading academic nephrologists — one a pediatric nephrologist and glomerular disease trial expert, the other an APOL1 biology expert at Duke University. Both KOLs independently characterized the HORIZON dataset as biologically coherent and internally consistent, framing the three trial cohorts as a predictable signal-to-noise gradient. The FSGS cohort, which is biopsy-confirmed and APOL1-dominant, delivered the cleanest signal at 61.8% UACR reduction, followed by non-diabetic AMKD at 48.6%, and diabetic AMKD showing the most modest but still notable response given the complexity of the patient population and maximally optimized background therapy including SGLT2 inhibitors and GLP-1 agents.

The KOLs described APOL1 as a "disease amplifier" rather than a primary disease cause — an important distinction for both the non-diabetic and diabetic cohorts. The analysts note that the KOLs positioned APOL1 inhibitors on the spectrum of disease-modifying therapies rather than curative interventions, drawing an analogy to PCSK9 inhibitors layered on top of statins as precision add-ons to standard of care.

Diabetic Cohort Signal Viewed as Proof of Concept

Despite the modest response in the diabetic cohort, both KOLs were explicit that the UACR improvement observed in the two diabetic responders is not random noise. The analysts highlight that the KOLs noted the normal UACR trajectory in diabetic kidney disease over a 12-week period without additional intervention is "either flat, slowly worsening, or at best stable" on the established standard of care.

A spontaneous improvement, as one of the two diabetic responders achieved, does not fit that expected distribution, leading the KOLs to characterize the signal as drug-attributable rather than artifactual. Both KOLs described the diabetic cohort data as "genuinely encouraging" and representing the first clinical proof-of-concept that APOL1 inhibition is active in diabetic kidney disease.

Pivotal Trial Design Framework

The KOLs recommended separating the non-diabetic and diabetic arms in the pivotal program, with distinct endpoints for each. For the non-diabetic cohort, which demonstrated a clean and clinically meaningful UACR reduction, the KOLs recommended advancement to a registration-intent Phase 3 trial powered on a 30% UACR reduction endpoint, with the regulatory path being actively pursued through the PARASOL framework.

For the diabetic cohort, the KOLs recommended continuing the current HORIZON cohort to generate eGFR trajectory and biomarker data before designing a subsequent pivotal trial, where eGFR slope — rather than proteinuria — may serve as the primary endpoint. The analysts note that the challenge remains the prospective identification of APOL1-primary patients within the broader diabetic CKD population, a biomarker challenge the field is actively working to address through enrichment criteria.

MZE829 Potential Long-Term Advantage

The analysts highlight a mechanistic argument for MZE829's potential long-term advantage over Vertex Pharmaceuticals' (NASDAQ: VRTX) inaxaplin. While inaxaplin blocks existing APOL1 pores but does not address new pore formation, MZE829 addresses both.

In the analysts' view, over a longer duration, MZE829's assembly-disruption component may progressively reduce the total burden of APOL1 protein embedded in the podocyte membrane, effectively reverting the cell toward a healthier phenotype as pore synthesis slows. The analysts conclude that the current 12-week comparison understates the differential that may emerge in a longer-duration pivotal study.

AMPLIFIED Readout as External Catalyst

Both KOLs independently concluded that the HORIZON dataset provides external validation of the APOL1 inhibition mechanism and that Vertex Pharmaceuticals' (NASDAQ: VRTX; Buy; PT US$641.00; Market Cap US$110.3B) upcoming AMPLIFIED Phase 2 readout, expected mid-2026, could reinforce rather than undermine confidence in MAZE.

The analysts note that two mechanistically distinct compounds from different companies with different chemical scaffolds showing consistent proteinuria reductions across APOL1 high-risk populations constitute strong and reproducible target validation. A positive AMPLIFIED result could simultaneously confirm MZE829's mechanism, expand physician awareness, build out genetic testing infrastructure, and broaden payer engagement for the entire APOL1 inhibitor class.

Near-Term Catalysts and Open Questions

The analysts identify the formal HORIZON data presentation at a medical conference as the most important near-term MAZE-specific catalyst, expected to include cohort-specific confidence intervals, the full waterfall plot, eGFR directional trends, and pharmacokinetic substudy results. Open questions include what biomarker or enrichment strategy Maze can embed in the diabetic pivotal design to prospectively identify APOL1-primary patients, and what the eGFR trajectory looks like in the HORIZON diabetic patients. The firm also intends to convene an investor-focused KOL call to further explore the implications of HORIZON for the AMPLIFIED and AMPLITUDE trial readouts.

Valuation and Risks

H.C. Wainwright's US$110.00 price target is based on an equally weighted composite of a PE-based valuation of US$88 per share (25x multiple on taxed and diluted 2034 EPS of US$9.00 discounted to December 2026 at 12%) and a DCF-based valuation of US$132 per share (12% discount rate, 2% terminal growth rate).

MAZE currently trades at US$29.00, with a 52-week range of US$6.71 to US$53.65, a market cap of approximately US$1.4B, and cash on hand of US$360M with no debt. Key risks include clinical failure of MZE782 or MZE829, failure to obtain regulatory approval in the US or EU, and failure to achieve peak commercial revenue estimates due to market size, penetration rates, or pricing dynamics.

Important Disclosures:

This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co., Maze Therapeutics Inc., April 7, 2026

This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet. H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility. RETURN ASSESSMENT Market Outperform (Buy): The common stock of the company is expected to outperform a passive index comprised of all the common stock of companies within the same sector. Market Perform (Neutral): The common stock of the company is expected to mimic the performance of a passive index comprised of all the common stock of companies within the same sector. Market Underperform (Sell): The common stock of the company is expected to underperform a passive index comprised of all the common stock of companies within the same sector. Rating and Price Target History for: Maze Therapeutics, Inc. (MAZE-US) as of 04-06-2026 60 50 40 30 20 10 0 Q1 Q2 Q3 2024 Q1 Q2 Q3 2025 Q1 Q2 Q3 2026 Q1 Q2 I:BUY:$34.00 07/23/25 BUY:$50.00 09/12/25 BUY:$60.00 12/03/25 BUY:$110.00 03/25/26 Rating and Price Target History for: Vertex Pharmaceuticals Inc. (VRTX-US) as of 04-06-2026 550 500 450 400 350 300 Q1 Q2 Q3 2024 Q1 Q2 Q3 2025 Q1 Q2 Q3 2026 Q1 Q2 BUY:$326.00 02/08/23 BUY:$380.00 05/02/23 BUY:$390.00 11/07/23 BUY:$397.00 12/11/23 BUY:$457.00 02/06/24 BUY:$462.00 04/11/24 BUY:$500.00 07/19/24 BUY:$600.00 08/02/24 BUY:$535.00 12/20/24 BUY:$550.00 01/31/25 BUY:$478.00 08/05/25 BUY:$518.00 02/13/26 BUY:$591.00 02/17/26 BUY:$641.00 03/10/26 Related Companies Mentioned in this Report as of April/6/2026 Company Ticker H.C. Wainwright 12 Month Price Market Rating Price Target Cap Vertex Pharmaceuticals Inc. VRTX Buy $641.00 $434.30 $110327 Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months.

H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Ananda Ghosh, PhD and Andrew S. Fein , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Maze Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of March 31, 2026 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Maze Therapeutics, Inc.. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. A research analyst of the firm and/or the research analyst’s household has a financial interest in and own the securities of Vertex Pharmaceuticals Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of March 31, 2026 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Vertex Pharmaceuticals Inc.. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The Firm or its affiliates did not receive compensation from Maze Therapeutics, Inc. and Vertex Pharmaceuticals Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Maze Therapeutics, Inc. and Vertex Pharmaceuticals Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report.

H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: MAZE:NASDAQ, )

Name Change, Share Consolidation, and US Clinic Strategy Signal Shift Toward Alzheimer's Diagnostics

Mon, 06 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/06/2026

Algernon Health (AGN:CSE; AGNPF:OTCQB; AGW0:XFRA) plans to rebrand to Grey Matters Health Inc. while advancing its Alzheimer's diagnostic strategy and U.S. clinic rollout.

Algernon Health (AGN:CSE; AGNPF:OTCQB; AGW0:XFRA) reported that it intends to change its corporate name to "Grey Matters Health Inc." and has reserved the new trading symbol "GREY" with the Canadian Securities Exchange. The company stated that new symbols for the OTCQB and Frankfurt exchanges will be provided at a later date.

The company indicated that the planned name change reflects its expanding focus on the Alzheimer's disease diagnostic market and its plans to establish specialized brain PET scanning clinics across the United States under the NovaScan Neuroimaging ClinicsTM brand. The first clinic was recently announced to be located at the HCA University Medical Office Building on the campus of the HCA Florida University Hospital in Davie. The company noted that this transition follows its entry into the Alzheimer's diagnostic market in 2025.

Algernon stated that the new name also maintains a connection to its existing drug development programs, including N-Dimethyltryptamine for ischemic brain stroke and traumatic brain injury, as well as Repirinast, a repurposed drug for chronic kidney disease. The company continues to hold a 20% ownership position in Seyltx Inc., a private U.S. drug development company advancing Ifenprodil in chronic cough, along with related intellectual property assets.

Concurrently, the company announced a proposed consolidation of its Class A common shares on a ten to Spell out numbers 1-10 basis. The company currently has 54,182,431 common shares issued and outstanding, which would be reduced to approximately 5,418,243 shares following the consolidation, excluding fractional share adjustments.

The company stated that both the name change and consolidation remain subject to approval by the Canadian Securities Exchange. It added that a further news release will be issued upon receiving approval, including confirmation of the effective date. The company noted that its common shares are expected to begin trading on a post-consolidation basis after the exchange issues its final bulletin. It also stated that preferred shares, warrants, stock options, and restricted share units will be adjusted in accordance with their respective terms.

The company indicated that, upon completion of the consolidation, registered shareholders will receive a letter of transmittal with instructions for exchanging their existing share certificates or DRS statements. It added that no action is required for non-registered shareholders who hold shares through an intermediary.

Alzheimer's Diagnostics Sector Advances

According to findings reported by Brown University on March 16, research published in Neurology examined how clinicians could improve diagnosis in patients with multiple neurodegenerative conditions, including Alzheimer's disease and frontotemporal lobar degeneration. The study found that patients with both conditions exhibited distinct neuropsychiatric symptoms, which could help inform diagnosis and care planning.

Daliah Ross stated, "We saw that there were different neuropsychiatric symptoms if people had both pathologies, which could inform diagnosis and treatment plans," while also noting that "it would be helpful for patients and families to have a better sense of what to expect so they can prepare." Dr. Edward Huey added that "this research may inform a diagnosis of FTLD, which can help patients and caregivers know more about what to expect as the disease progresses."

The growing role of PET scanning in Alzheimer's diagnosis has been well documented in peer-reviewed research. According to the University of California, San Francisco's Department of Radiology and Biomedical Imaging, "diagnosing Alzheimer's is complex," adding that "with no single test currently available, diagnosis is based on an individual's history, physical examination, and cognitive testing," and that "amyloid PET imaging represents a potential major advance in the assessment of those with cognitive impairment."

Before amyloid PET was developed, beta-amyloid plaques — the protein deposits considered a defining feature of Alzheimer's disease — could only be confirmed by examining brain tissue after death. Research published in peer-reviewed literature and supported in part by the National Institutes of Health has since found that PET tracers "approach the sensitivity of tissue diagnosis in identifying Alzheimer's pathology," according to a review published in PMC.

A separate large-scale U.S. study involving more than 18,000 patients found that amyloid PET results were associated with changes in patient management in more than 60% of cases within 90 days of scanning.

The policy environment has added further urgency to PET scan access. When the Centers for Medicare and Medicaid Services (CMS) expanded Medicare coverage to include the monoclonal antibody therapies Leqembi and Kisunla — the first drugs to receive traditional FDA approval for slowing Alzheimer's progression — it stipulated that patients must present "documented evidence of beta-amyloid plaque on the brain" before coverage is approved. In practice, that confirmation requires either a brain-specific PET scan or a spinal tap. In October 2023, CMS went a step further by removing prior national restrictions that had capped the number of amyloid PET scans covered per patient. As reported by Fierce Healthcare, the policy change was intended to give "people with Alzheimer's disease symptoms a better path to treating the condition," with coverage decisions moving to regional Medicare administrative contractors.

The Alzheimer's Association noted in response that "access to amyloid PET imaging for Alzheimer's diagnosis is essential in the new era of treatments." It is against this backdrop that Grey Matters Health (formerly Algernon Health) is moving to establish its NovaScan Neuroimaging Clinics™ network, describing the current supply of PET scanners in North America as insufficient to meet anticipated demand in the Alzheimer's diagnostic market.

Analyst Report Points to Alzheimer's Diagnostic Strategy and Issues Speculative Buy Rating

¹A March 26 report from Stewart Thomson described Algernon Health Inc. as "a Canadian healthcare company" and outlined its focus on Alzheimer's diagnostics through brain-optimized PET imaging. The report noted that "this plan will make the company's main business diagnosing Alzheimer's disease, using high-technology brain-optimized Positron Emission Tomography (PET) scans for diagnosis," while also referencing "the goal of capturing a US$6.9 billion emerging market."

Thomson stated on March 26 that "the company is entering the Alzheimer's Disease (AD) diagnostic market segment with plans to establish a network of dedicated neuroimaging medical clinics in the U.S." He added that these clinics are expected to use "the most advanced, FDA-cleared brain-specific PET scanner to focus on early-stage detection of the disease."

The report also assigned the company a "Technical Rating: Strong Speculative Buy" and listed price targets of "CA$0.08" for the short term, "CA$0.17" for the medium term, and "CA$0.40" for the long term.

Clinic Development and Alzheimer's Diagnostic Expansion

The company's healthcare initiative includes plans to establish Alzheimer's screening, diagnostic, treatment, and patient care clinics in North America, with an initial focus on the United States. It stated that the first medical clinic location is expected to be established in Florida, with additional expansion plans including company-owned clinics and franchise licenses in Canada, Florida, Los Angeles, and five additional U.S. cities.

The company outlined that its Alzheimer's initiative builds on developments in the healthcare segment, including the approval of antibody treatment therapies by the U.S. Food and Drug Administration and the approval of PET brain scanning technology capable of confirming amyloid plaque buildup. It noted that PET brain scans and certain treatment therapies are covered by U.S. Medicare and Medicaid. [OWNERSHIP_CHART-9895]

The company stated that it continues to advance its pharmaceutical pipeline, which includes a drug repurposing candidate and a naturally occurring compound, with intellectual property protection covering method of use, dosing, formulation, and composition of matter.

Ownership and Share Structure²

Management and insiders own about 11% of the company, and about 21% is owned by institutions. The rest is with retail.

Top shareholders include Alpha North Asset Management with 20.52%, Chief Executive Officer Christopher Moreau with 5.05%, Chairman of the Board Harry Bloomfield with 1.97%, and Chief Financial Officer James Kinley with 1.4%, and Director Rajpaul Attariwala with 1.2%.

Algernon has 54.1 million outstanding shares, a market cap of US$1.37 million, and a 52-week range of US$0.035 - US$0.10.

Important Disclosures:

Algernon Health has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Algernon Health.
James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Disclosure for the quote from the Stewart Thomson article published on March 26, 2026

For the quoted article (published on March 26, 2026), Algernon Health has paid Street Smart, an affiliate of Streetwise Reports, US$3000.
Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: AGN:CSE; AGNPF:OTCQB; AGW0:XFRA, )

Philly Biotech Co. Develops High-Potential Autoimmune Therapy Breakthrough

Thu, 02 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/02/2026

Cabaletta Bio Inc. (CABA:NASDAQ) pushes rese-cel CAR T program forward with strong clinical momentum, production scalability, and analyst-backed upside potential.

Cabaletta Bio Inc. (CABA:NASDAQ) released its Q4 2025 and full-year 2025 financial results on March 23, 2026. Cabaletta focuses on late-stage biotechnology and targeted cell therapies for autoimmune diseases and is headquartered in Philadelphia, U.S.

A news release from the company said that Cabaletta closed 2025 with a cash balance of US$133.6 million, which was down from US$164 million in 2024. Since the beginning of 2026, however, the company has raised an additional US$30 million from common stock warrants set to expire in September of this year and ATM sales.

Research and development costs went up as well in Q4 2025 and full-year 2025, from US$25.5 million and US$97.2 million, respectively, in 2024 to US$36.2 million and US$142.7 million in 2025. Administrative expenses stayed relatively level in 2025, though, with Q4 2025 and full-year 2025 costs at US$6.4 million and US$29.6 million, respectively, and 2025 costs coming in at US$8.3 million and US$27.9 million.

Cabaletta is working on a new T cell therapy called rese-cel. It is ". . . an investigational, autologous CAR T cell therapy engineered with a fully human CD19 binder and a 4-1BB co-stimulatory domain, designed specifically for the treatment of autoimmune diseases. Administered as a single, weight-based infusion, rese-cel has demonstrated the ability to transiently, reliably, and deeply deplete CD19-positive cells, with the goal of resetting the immune system and achieving durable clinical responses without the need for chronic therapy. Cabaletta is evaluating rese-cel in the RESET™ (REstoring SElf-Tolerance) clinical development program, which includes multiple ongoing company-sponsored trials across a broad range of autoimmune diseases in rheumatology, neurology, and dermatology."

Wavering Pharma Sector Still Up

Pharma sector funding fell between 2024 and 2025, according to a March 26, 2026, article for Fierce Biotech by Nick Paul Taylor. He wrote that pharma funding had fallen from 2024 but noted that, "2025 was still the third-best year of the past decade. Similarly, overall funding was well above the pre-pandemic norm and only topped by 2020, 2021, and 2024."

At the same time, J. Edward Moreno of Sherwood News reported contradictory news on January 14, 2026, writing that, "In 2025, announced global biotech deals totaled US$228.4 billion, up from US$132.3 billion in 2024, data from Dealogic shows . . . Just two weeks into 2026, US$9.2 billion in deals have been announced."

According to Moreno, movement is expected in the sector: "As some of the most lucrative drugs lose exclusivity in the next few years, pharmaceutical giants are increasingly shopping around for biotechs to add to their portfolios — and they are more than happy to pay a hefty premium for the right company . . . For some Big Pharma companies, business development spending is now about equal to, or more than, research and development."

This statement could explain the emerging drop in research and development spending at biotech and pharma companies. On March 25, 2026, BioSpace's Annalee Armstrong reported that, "R&D spending at the top 16 pharmaceutical companies declined by 3.6% overall in 2025, as many aggressively cut spending and refocused pipelines."

Production Potential Earns 'Buy' Rating

Douglas Tsao and Luci Lai for H.C. Wainwright & Co. gave Cabaletta Bio a 'Buy' rating on April 1, 2026, citing its outpatient dosing trial as an important feature of the rese-cel program.

Commenting on the company's pairing with Cellares' Cell Shuttle system, the analysts wrote, " We believe rese-cel's ease of administration is a competitive differentiator that will matter. If outpatient administration proves feasible in practice, it should reduce hospital resource use and make rese-cel easier to adopt than traditional oncology CAR T." According to the analysts, Cabaletta management has stated that the company has enough capital to fund its current operating plan for the rest of the year.

The analysts closed their report by offering a target price of US$16.

Catalysts

"As we advance our core clinical programs for rese-cel with preconditioning and standard manufacturing, we have meaningfully advanced two potentially transformative innovations: rese-cel with no preconditioning and automated manufacturing using the Cellares Cell Shuttle. Clinical data on both innovations are on track to be shared in the first half of this year with durability data to follow later this year. Clinical data currently suggest that rese-cel offers a competitive profile that may reliably deliver an immune reset following a single, weight-based infusion with a safety profile that facilitates outpatient delivery with — or potentially without — preconditioning," said Steven Nichtberger, M.D., and CEO of Cabaletta, on March 23, 2026.

In the first half of 2026, Cabaletta expects to report the initial clinical experience with rese-cel through Cellares' manufacturing platform. The company's goal is to ensure Good Manufacturing Practice (GMP) readiness. If the Cellares Integrated Development and Manufacturing (IDMO) Smart Factory trial is successful, Cabaletta will be able to significantly scale production at a minimal cost.

In the second half of 2026, the company hopes to release clinical data from patient trials. [OWNERSHIP_CHART-11564]

Two formulas currently being tested, RESET-SLE and RESET-PV, are expected to produce initial data in the first half of 2026 and durable data in the second half. Dose-ranging durability data from RESET-PV trials are expected throughout the year.

The press release also noted that, ". . . The registrational dermatomyositis (DM) and antisynthetase syndrome (ASyS) cohort is enrolling and is expected to evaluate 17 patients with a 16-week primary endpoint of moderate or major total improvement score response while off immunomodulators and on no or low-dose steroids. If successful, data from this cohort will support Cabaletta's first projected Biologics License Application (BLA) submission for rese-cel in myositis in 2027."

Ownership & Share Structure¹

Cabaletta Bio Inc. has a market cap of US$299.46 million, with 111.32 million shares outstanding.

The company has a 52-week range of US$0.99-US$3.78.

Institutions hold 68.51% of shares, while Management & Insiders hold 1.46%.

The remaining 30.03% of shares are Retail.

Important Disclosures:

Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: CABA:NASDAQ, )

The World's First AI Voice Detection For Drugs & Alcohol With Charts That Beckon Investors To Buy

Wed, 01 Apr 2026 00:00:00 PST

Source: Stewart Thomson 04/01/2026

Technical Analyst Stewart Thomson explains why he thinks MindBio Therapeutics Corp. (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt) is a Speculative Buy.

MindBio Therapeutics Corp. (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt) is an Australian AI company that is pioneering acoustic biomarker technology that transforms human voice into actionable health intelligence.

Voice is a remarkable diagnostic marker for internal health and disease. The company's proprietary algorithms analyze over 50 million data points with 140 acoustic parameters extracted from human speech, including fundamental frequency variations, spectral entropy, jitter, shimmer, and harmonic-to-noise ratios — to identify physiological states with incredible clinical-grade precision.

The Science of Acoustic Biomarkers

Human voice contains rich biometric data invisible to the human ear but detectable through advanced signal processing.

MindBio's AI decodes these acoustic signatures to reveal physiological states and does it with unprecedented precision.

Why Voice is the Ultimate Non-Invasive Biomarker

The human voice is produced through a complex neuromuscular system involving the respiratory system, larynx, and articulators.

Any substance affecting the central nervous system — alcohol, drugs, fatigue — inevitably manifests in measurable vocal changes.

Unlike blood tests or breathalyzers, voice analysis is completely non-invasive, requires no specialized equipment, and can be performed remotely, making it ideal for scalable workforce monitoring and telehealth applications.

MindBio Appoints National Drug Policy & Mining Industry Expert to Lead South American Mining Industry Commercialization – Feb 24, 2026

To view this news, please click here.

Some Key Charts

AI stocks are bottoming, and flashing buy signals, basis this AI stocks ETF chart (AIQ).

Note the massively oversold MACD indicator and the exciting position of the Stochastics (14,7,7 series) and RSI oscillators.

AI stocks are bottoming, and MindBio leads the pack.

On this exciting daily chart, a bull wedge breakout is in play, volume is surging, and there's a bullish cross of the key 10,30 moving averages.

The stock is already leading the AIQ; MindBio is already up about 100% from its early March low, while the AIQ is only bottoming now.

Meet Booze AI

The world's first voice-activated AI-powered blood alcohol test on a smartphone.

Customers get instant estimates of their BAC and see how alcohol affects their performance.

Watch how easy it is to estimate a person's blood alcohol concentration by talking to their smartphone.

Zero-Tolerance Industries Zero-Compromise Safety

MindBio brings purpose-built hardware-software solutions for scalable, on-site drug and alcohol intoxication screening in zero-tolerance regulated industries.

The Challenge: Traditional Testing Falls Short

The Problem: Breathalyzers require physical presence.
The MindBio Solution: Voice testing works from any location.
The Problem: Lab tests take days for results.
The MindBio Solution: Voice analysis completes in seconds.
The Problem: Random testing creates scheduling chaos.
The MindBio Solution: Continuous monitoring without disruption.
The Problem: Equipment maintenance is costly.
The MindBio Solution: Edge AI Hardware-Software Solutions for scalable remote deployment, low cost.

Edge AI Voice-Initiated Drug & Alcohol Intoxication Detection Kiosks

How AI is Reshaping Telehealth

Artificial intelligence is addressing the fundamental limitations of remote healthcare by enabling objective, continuous health assessment without physical examination. Voice analysis represents the most accessible and scalable form of AI-powered diagnostics.

Traditional telehealth relies heavily on patient self-reporting and visual observation. Voice biomarker technology adds an entirely new dimension—extracting clinically relevant data from natural speech patterns that patients cannot consciously manipulate or misrepresent.

Voice-Based Intoxication Detection

MindBio's core competency lies in detecting substance impairment through voice analysis; it's a capability with profound implications for telehealth, workplace safety, and public health.

The Science of Detection

Alcohol and drugs affect the neuromuscular systems responsible for speech production in predictable, measurable ways.

AI models are trained to identify these acoustic signatures with clinical-grade accuracy.

Fresh News

MindBio Announces Upsize to Private Placement up to $1.5 million – March 19, 2026

To view the news, please click here.

Shares Outstanding

MindBio Therapeutics Corp. has approximately 4.79 million common shares issued and outstanding.

Significant Shareholders

Key individuals holding shares include CEO Justin Hanka and Director Gavin Upiter.

Big Name Brokers Involved

Stock Price March 31, 2026: CA$1.25

Short-Term Technical Price Target: CA$1.70

Medium-Term Technical Price Target: CA$3.00

Long-Term Technical Price Target: CA$6.00

Technical Rating: Strong Speculative Buy

The company's latest investor presentation is here.

Important Disclosures:

Mindbio Therapeutics Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
For this article, Mindbio Therapeutics Corp. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services, or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt, )

Biotech Company Uncovers Breakthrough Canine Arthritis Treatment

Mon, 30 Mar 2026 00:00:00 PST

Source: Streetwise Reports 03/30/2026

Israeli co. Can-Fite BioPharma Ltd. (CANF:NYSEAmerican) teamed up with Vetbiolix to trial Piclidenoson for dogs, with Phase 2 results due Q3 2026. Yet, one analyst still rates the stock as a Hold. Read on to see why.

Can-Fite BioPharma Ltd. (CANF:NYSEAmerican) announced on March 30, 2026, that it has paired with its veterinary commercialization partner, Vetbiolix, for Phase 2 trials of its canine osteoarthritis treatment, Piclidenoson. Vetbiolix is fully funding all costs related to developing and registering the drug.

"The randomized, double-blind, placebo-controlled, dose-ranging Phase 2 clinical study is evaluating 118 client-owned dogs with osteoarthritis treated with Piclidenoson over a 90-day period, administered orally twice daily. The primary endpoint is the Liverpool Osteoarthritis in Dogs (LOAD) questionnaire, assessing symptom severity and mobility. Secondary endpoints include the Visual Analog Scale (VAS) for pain assessment by pet owners and the Numerical Rating Score (NRS) for evaluation of lameness and pain by veterinarians. Top-line results are expected in the third quarter of 2026," said Motti Farbstein of Can-Fite BioPharma.

Vetbiolix has entered a full-licensing agreement with Can-Fite, with Can-Fite set to earn upfront payments as well as milestone and royalty payments. The company projects a revenue of up to US$325 million over the next 10 years if the drug performs well.

Despite this announcement, the company's stock prices fell today, with Global Round Up reporting that they fell US$0.08, or around 2.4%, to US$3.21. The article went on to say, " In the International Depository Receipts market of 1,119 units traded today, the ADR has a 21-day relative price strength of 1, indicating it has underperformed 99% of the market. A price fall combined with a low relative strength is a bearish signal."

On March 30, 2026, News Bites noted several "unfavorable" factors about the company's performance between 2023 and 2024, such as a loss of US$7.9 million, a 9% revenue decrease, negative operating cash flow, and an EBIT margin of -1,169.1%. The numbers for full-year 2025 are available for comparison but were not included in the article.

From Treating Humans to Helping Dogs

Can-Fite BioPharma is an Israeli biotech company advancing a pipeline of small-molecule drugs for oncological and inflammatory diseases. Its current market is largely made up of human patients, though it is working on developing its medications for veterinary use. Can-Fite utilizes the Gi protein-associated A3 adenosine receptor (A3AR) as a therapeutic target, which is highly expressed in inflammatory, cancer, and other bodily cells. The company works with drugs like Namodenoson, Piclidenoson, CF6-2, cannabinoids, and others.

The company describes Piclidenoson as ". . . a novel, first-in-class, A3 adenosine receptor agonist (A3AR) small molecule, orally bioavailable drug with an excellent safety and efficacy profile demonstrated in a Phase III clinical study in psoriasis. The drug's mechanism of action entails inhibition of the inflammatory cytokines interleukin 17 and 23 (IL-17 and IL-23) and the induction of apoptosis of patients' skin cell keratinocytes involved with the disease pathogenicity."

Veterinary Needs Take Hold in the U.S.

The increasing normality of pet ownership has caused the global canine osteoarthritis market to be projected to reach approximately US$3 billion by 2028.

A February 12, 2026, article by R. Scott Nelson for the American Veterinary Medicine Association stated that "veterinary prices rose faster than inflation in 2025." The article cites John Volk, senior consultant with Brakke Consulting, expecting the veterinary industry to remain profitable even though it is under strain from higher fees meeting tighter household budgets. Veterinary practices increased revenue by about 2.5% in 2025 even though veterinary visits had fallen by around 3%, which Volk said, ". . . tells us the profession is still growing revenue, but it's increasingly being driven by higher prices rather than higher (patient) volume."

PR Newswire wrote on March 23, 2026, "The global animal drug compounding market is growing steadily, expected to be valued at around US$1.5 billion in 2026 and projected to reach US$2.3 billion by 2033 . . . North America leads with a 42% market share, driven by high pet ownership, advanced veterinary infrastructure, and strong regulatory support."

Analysts Waiting on Q3 2026 Results

Jason Kolbert of D. Boral Capital gave Can-Fite a "Hold" rating on March 30, 2026, addressing the company's Phase 2 trial: "We view the program as incremental to the broader investment case, with clinical readouts not expected until Q3 2026 and limited near-term financial impact."

While Kolbert does mention the roughly US$3 billion canine osteoarthritis market target by 2028, he points out that ". . . the company's core thesis continues to hinge on human clinical assets, including Piclidenoson in psoriasis and Namodenoson in liver indications, where regulatory pathways and data readouts are more material to near- and mid-term stock performance." D. Boral's current expectation is that veterinary medicine will remain a secondary driver in the company's near future. [OWNERSHIP_CHART-5788]

Catalysts

Results of the Phase 2 trial of Piclidenoson are expected in the third quarter of 2026, which will provide updates on regulatory pathways.

The company believes it is financially well-positioned to conduct all clinical development programs for more than the next year and is confident in its intellectual property portfolio, which consists of 15 patent families issued and pending.

Ownership & Share Structure¹

Can-Fite BioPharma Ltd. has a market cap of US$22.18 million with 4.29 million shares outstanding and a 52-week range of US$500-US$6,000.

Institutions hold 1.23% of shares, and Management and Insiders own 0.01%. The remaining 98.76% of shares are Retail.

Important Disclosures:

Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: CANF:NYSEAmerican, )

Biotech Price Target Raised on Strong FSHD and DM1 siRNA Data

Fri, 27 Mar 2026 00:00:00 PST

Source: Dr. Yun Zhong 03/27/2026

Wedbush Securities raised its price target on Sarepta Therapeutics Inc. (SRPT:NASDAQ), following promising Phase 1/2 data for siRNA candidates SRP-1001 in FSHD and SRP-1003 in DM1, citing superior muscle concentration and a clean safety profile versus rival programs from Novartis and Dyne Therapeutics.

Published March 26, 2026, Wedbush Securities analyst Yun Zhong raised the price target on Sarepta Therapeutics Inc. (SRPT:NASDAQ) to US$35 from US$29, maintaining an Outperform rating, after the company reported encouraging preliminary data from its Phase 1/2 studies for SRP-1001 (FSHD) and SRP-1003 (DM1), prompting inclusion of both programs in the firm's valuation.

The catalyst for the target increase was positive preliminary data from Sarepta's siRNA pipeline, specifically for SRP-1001 targeting facioscapulohumeral muscular dystrophy (FSHD) and SRP-1003 targeting myotonic dystrophy type 1 (DM1). Both candidates demonstrated strong safety profiles with no dose-limiting toxicities or treatment-related serious adverse events, alongside dose-dependent plasma exposure. A key differentiator cited by Zhong is Sarepta's approach of targeting αvβ6 Integrin rather than the transferrin receptor 1 (TfR1), which the analyst believes accounts for the significantly higher muscle concentration achieved after a single dose compared to rival TfR1-dependent candidates following multiple doses.

SRP-1001 was highlighted as comparing favorably to del-braxanostat (del-brax), the FSHD candidate formerly developed by Avidity Biosciences, which was acquired by Novartis (NVS – NYSE) in a US$12 billion transaction completed in February 2026. SRP-1001 showed approximately 90% reduction in DUX4-related genes versus greater than 50% reported by Avidity when it first disclosed data in June 2024, with comparable creatine kinase reduction of 33% versus 30%. The quarterly dosing regimen being explored for SRP-1001, if confirmed, would also represent an improvement over del-brax's every-six-week schedule. Zhong noted that the FDA confirmed in writing in June 2025 that an accelerated approval pathway is available for del-brax in FSHD, and the analyst believes a similar regulatory route should be accessible for SRP-1001. Avidity's randomized, placebo-controlled Phase 3 FORWARD study in FSHD — targeting approximately 200 patients over 18 months — is underway, with data readout and global regulatory submissions anticipated in 2028.

For SRP-1003 in DM1, Wedbush highlighted a more favorable pharmacokinetic profile relative to competing Phase 3 candidates del-desiran (Avidity/Novartis) and z-basivarsen (Dyne Therapeutics — DYN – Nasdaq), with significantly higher muscle concentration observed. Del-desiran had previously been placed on a partial clinical hold in September 2022 due to a drug-related serious adverse event, though the hold was lifted in October 2024. Avidity completed enrollment in its global Phase 3 HARBOR study in DM1 in July 2025, with top-line data expected in the second quarter of 2026. Dyne reported positive functional improvement data from its Phase 1/2 study and initiated its confirmatory Phase 3 HARMONIA study in early March 2026, targeting approximately 150 patients with a primary endpoint of the five-times sit-to-stand test at week 49.

Wedbush projects SRP-1001 and SRP-1003 to reach the U.S. market in 2031 and 2032, respectively, via accelerated approval pathways, with probability of success estimates of 20% and 10%. The analyst acknowledged the early stage of both programs while characterizing the initial data as "a critical step forward for SRPT's siRNA portfolio to create significant value for the stock."

On the financial front, Sarepta reported full-year 2025 revenues of US$2.20 billion, up from US$1.90 billion in 2024, though the company posted a net loss of US$713.4 million, or US$7.13 per share, for the year. Wedbush projects 2026 revenues of approximately US$1.77 billion and earnings per share of US$3.67, reflecting near-term headwinds before a recovery driven by pipeline contributions in later years. ELEVIDYS, Sarepta's gene therapy for Duchenne muscular dystrophy, generated US$898.7 million in 2025 net product revenue. The stock carries a 52-week range of US$10.42 to US$74.40 and was priced at US$23.77 at the time of publication, implying approximately 47% upside to the revised US$35 price target.

Risks identified include unexpected clinical trial outcomes, regulatory uncertainty, competitive pressures, commercial execution challenges, manufacturing risks, and general financial risks inherent to a commercial and clinical-stage biotechnology company.

Important Disclosures:

This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for Wedbush, Sarepta Therapeutics Inc., March 26, 2026

Analyst Certification I, Yun Zhong, certifies that the views expressed in this report accurately reflect my personal opinion and that I have not and will not, directly or indirectly, receive compensation or other payments in connection with my specific recommendations or views contained in this report. Mentioned Companies Investment Rating System: OUTPERFORM: Expect the total return of the stock to outperform relative to the median total return of the analyst's (or the analyst's team) coverage universe over the next 6-12 months. NEUTRAL: Expect the total return of the stock to perform in-line with the median total return of the analyst's (or the analyst's team) coverage universe over the next 6-12 months. UNDERPERFORM: Expect the total return of the stock to underperform relative to the median total return of the analyst's (or the analyst's team) coverage universe of the next 6-12 months. The Investment Ratings are based on the expected performance of a stock (based on anticipated total return to price target) relative to the other stocks in the analyst's coverage universe (or the analyst's team coverage).* Rating distribution (as of March 22, 2026) Investment Banking Relationships (as of March 22, 2026) OUTPERFORM: 75.54% OUTPERFORM: 11.36% NEUTRAL: 21.46% NEUTRAL: 6.00% UNDERPERFORM: 3.00% UNDERPERFORM: 0.00% The Distribution of Ratings is required by FINRA rules; however, WS' stock ratings of Outperform, Neutral, and Underperform most closely conform to Buy, Hold, and Sell, respectively. Please note, however, the definitions are not the same as WS' stock ratings are on a relative basis. The analysts responsible for preparing research reports do not receive compensation based on specific investment banking activity. The analysts receive compensation that is based upon various factors including WS' total revenues, a portion of which are generated by WS' investment banking activities. Company Specific Disclosures This information is subject to change at any time. This research is provided for educational and informational purposes only and is not intended to be relied upon as a forecast, research, or investment advice, and is not a recommendation, offer, or solicitation to buy or sell any securities or to adopt any investment strategy. Investing involves risk, including the risk of loss of principal. Your investments may decline in value due to both real and perceived general market, economic, and industry conditions. Diversification does not ensure profits or protect against loss. This research was prepared without regard to specific investment objectives, strategies, tax status, investment horizon, financial situation or needs of any investor. Wedbush Securities, Inc. (“WSI”) encourages recipients of this report to read all relevant offering documents (e.g., prospectus) pertaining to any investment concerned, including without limitation, information relevant to its investment objectives, risks, and costs before making an investment decision and when deemed necessary, to seek the advice of a legal, tax, and/or accounting professional. Past performance is no guarantee of future results. Reliance upon information in this research is at the sole discretion of the reader. All information in this research is believed to be reliable as of the date on which this research was issued and has been obtained from public sources believed to be reliable. No representation or warranty, either express or implied, is provided in relation to the accuracy or completeness of the information contained herein. The opinions expressed are as of the date written and are subject to change without notice. In addition, this research may contain certain statements deemed to be “forward-looking” statements. All statements, other than historical facts, contained within this document that address activities, events or developments that this research report expects, believes, or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by WSI in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to assumptions, risks, uncertainties, many of which are beyond WSI’s control. Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Prepared by Wedbush Securities, Inc., a member of FINRA and SIPC. 1. WS makes a market in the securities of Sarepta Therapeutics. Price Charts

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( Companies Mentioned: SRPT:NASDAQ, )

Massachusetts Biotech Co. Finds High-Potential Muscle Treatment Breakthrough

Fri, 27 Mar 2026 00:00:00 PST

Source: Streetwise Reports 03/27/2026

Sarepta Therapeutics Inc.'s (SRPT:NASDAQ) early results reveal dose-dependent drug exposure and significant biomarker reductions for forms of muscular dystrophy.

Sarepta Therapeutics Inc. (SRPT:NASDAQ) announced clinical trial results for two drugs on March 26, 2026.

"We are pleased that these early clinical results showed high levels of siRNA delivery to muscle, with no saturation of muscle siRNA uptake or dose-limiting safety signals to date. We believe this supports the differentiated potential of this siRNA platform and strengthens our belief that this approach could meaningfully change the treatment landscape for patients with FSHD and DM1," stated Louise Rodino-Klapac, Ph.D., President, Research & Development and Technical Operations at Sarepto.

"These preliminary clinical data show consistent dose-dependent increases in plasma and muscle drug exposures across clinical and nonclinical studies and suggest that the αvβ6 integrin-targeting ligand mediates robust siRNA muscle delivery, which we hypothesize will ultimately enable higher dosing and translate into clinical efficacy for patients with FSHD1 and DM1."

Myotonic dystrophy type 1 (DM1) — a multisystem, progressive disorder — is caused by the repeated replication of the DMPK gene and is the most common adult-onset type of muscular dystrophy. It affects both skeletal and smooth muscle, as well as critical internal systems like the respiratory, nervous, endocrine, and gastrointestinal systems. The disease also attacks the eyes and heart.

Facioscapulohumeral muscular dystrophy (FSHD), on the other hand, is a disease so rare that it only affects about 16,000 Americans. A genetic disease, FSHD, is caused by activation of the DUX4 gene on the 4^th chromosome, which creates toxic DUX4 proteins. The disease causes skeletal muscles to progressively weaken, usually affecting the face, shoulders, upper limbs, abdomen, pelvis, and legs.

Neither disease is currently curable, and there are little-to-no effective treatment options. Sarepta's investigational treatments, SRP-1001 and SRP-1003, are in Phase 1/2 testing for efficacy.

"A single dose of SRP-1001 resulted in a 90% to 93% reduction in the expression of genes that are abnormally activated in FSHD . . . SRP-1001 likewise rapidly reduced serum creatine kinase levels, a key marker of muscle damage," reported Tristan Manalac for BioSpace on March 26, 2026.

In July 2025, Sarepto announced it was moving away from gene therapies after its Duchenne muscular dystrophy drug, Elevidys, resulted in the deaths of two teenage patients. The deaths tanked the company's stock, which was well above US$100 per share. Since the trial announcements for SRP-1001 and SRP-1003, however, the company's shares have rebounded 30% and reached US$23.77.

Sarepta Therapeutics Inc. is a worldwide biotech company that focuses on genetic medicine for rare diseases and is headquartered in Massachusetts, USA. The company currently has four FDA-approved drugs for treating Duchenne Muscular Dystrophy and has several other drugs in its pipeline.

Pharma Market Slowing but Still Up

Pharma and biotech funding have been in a slump compared to their previous exponential growth. In a March 26, 2026, article for Fierce Biotech, Nick Paul Taylor wrote that current spending is less than in 2024 but noted that, "2025 was still the third-best year of the past decade. Similarly, overall funding was well above the pre-pandemic norm and only topped by 2020, 2021, and 2024."

However, J. Edward Moreno of Sherwood News reported on January 14, 2026, that, "In 2025, announced global biotech deals totaled US$228.4 billion, up from US$132.3 billion in 2024, data from Dealogic shows . . . Just two weeks into 2026, US$9.2 billion in deals have been announced."

"As some of the most lucrative drugs lose exclusivity in the next few years, pharmaceutical giants are increasingly shopping around for biotechs to add to their portfolios — and they are more than happy to pay a hefty premium for the right company . . . For some Big Pharma companies, business development spending is now about equal to, or more than, research and development," Moreno went on to add.

Other news outlets are echoing this sentiment. On March 25, 2026, BioSpace's Annalee Armstrong reported that, "R&D spending at the top 16 pharmaceutical companies declined by 3.6% overall in 2025, as many aggressively cut spending and refocused pipelines."

Analysts Disagree on Sarepta Rating

Analysts have varying opinions on Sarepta's stock. Mitchell S. Kapoor and Raghuram Selvaraju, Ph.D., of H.C. Wainwright & Co. issued a "Sell" rating for the company on March 26, 2026.

They wrote, "Even if SRP-1001 and SRP-1003 ultimately prove out, they are far too early-stage to offset near-term value destruction from flagging ELEVIDYS sales. This may explain why the stock’s ~35% move (vs. XBI up ~3.5%) today suggests investors had assigned little, if any, value to the siRNA programs and were wholly focused on ELEVIDYS and the PMOs previously. We reiterate our Sell rating and 12-month price target of US$5." The analysts went to say that they are waiting for proof that SRP-1001 and SRP-1003 will be clinically superior to decide if their rating should change.

Yun Zhong, Ph.D., an analyst for Wedbush, however, offered a different take, giving the company an "Outperform" rating on March 26, 2026.

Zhong went so far as to raise the 12-month price target from US$29 to US$35 based on the preliminary data coming out regarding SRP-1001 and SRP-1003. "We project SRP-1001 and SRP-1003 to enter the U.S. market in 2031 and 2032, through an accelerated approval pathway that other more advanced programs for the same indications have helped to establish," wrote Zhong on March 25, 2026. [OWNERSHIP_CHART-5368]

"Despite the early stage of the programs, we see the initial data as a critical step forward for SRPT's siRNA portfolio to create significant value for the stock."

Catalysts

According to Sarepto's investor presentation, the next 18 months will hopefully show MAD (Multiple Ascending Dose) studies are expected in the second half of 2026 for both SRP-1003, while SRP-1003 should get Casi22 data at the same time.

Another drug, SRP-1005, intended to treat Huntington's disease, is projected to commence dosing in the first half of this year, with hopes of gathering proof-of-biology data in the first half of 2027.

Ownership & Share Structure¹

Sarepta Therapeutics Inc. has a market cap of US$2.5 billion, with 104.99 million shares outstanding.

Institutions hold 89.84% of its shares, while management and insiders own 5.16%.

The remaining 5% of shares are in retail.

Important Disclosures:

Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: SRPT:NASDAQ, )

Biotech Company Achieves Key Bladder Cancer Milestone in California

Fri, 27 Mar 2026 00:00:00 PST

Source: Streetwise Reports 03/27/2026

ImmunityBio Inc. (IBRX:NASDAQ) confirms study power sufficiency for ANKTIVA combo, supporting measurable response outcomes and maintaining timeline for 2026 BLA filing.

ImmunityBio Inc. (IBRX:NASDAQ) gave an update on March 26, 2026, regarding the trial of their drug, Anktiva, in combination with the clinically-approved drug, Bacillus Calmette-Guérin (BCC), for treating specific types of bladder cancer.

ImmunityBio announced that, "based on the Independent Data Monitoring Committee (IDMC) review of the interim data, the committee recommended that the study is adequately powered to detect the pre-specified clinically meaningful difference in complete response (CR) rate between the experimental arm (ANKTIVA + BCG) and the control arm (BCG alone) at the protocol-specified power, in the randomized QUILT-2.005 (NCT02138734) study."

ImmunityBio reached capacity for trial enrollment in late February 2026 and announced in March that the IDMC interim analysis of the study indicated that no further participants are required — e.g., the study has sufficient statistical power to see if combining the Anktiva and BCC presents a measurable change in treatment outcome.

Patrick Soon-Shion, M.D., and Founder, Executive Chairman, and Global Chief Medical and Scientific Officer of ImmunityBio, said, "Over the past decade, our scientific thesis has been that activating natural killer cells and CD8+ cytotoxic T cells through IL-15 receptor agonism would generate durable immunological memory against bladder cancer. The NCI identified IL-15 as the number one-ranked immunostimulatory cytokine nearly two decades ago, and this program has been the clinical validation of that thesis. The IDMC's confirmation that QUILT-2.005 is adequately powered to detect clinically meaningful differences when ANKTIVA is combined with BCG. Among participants from the QUILT 2.005 Phase 1b study, which began in 2014, those patients who enrolled in long-term follow-up (6 of 9 evaluable), all (6 out of 6, 100%) demonstrated a prolonged duration of complete remission with a median survival of 8.8 years with ongoing bladder preservation to date. In addition, the initial interim analysis of QUILT-2.005 performed in the first 43 patients in 2023 further demonstrated a difference in durable complete response when ANKTIVA is combined with BCG in the BCG-naïve setting. The consistency of durable response from the first 9 patients in 2014, to the next 43 patients in 2023 is encouraging, and I am pleased that statistical power of the randomized trial requires no further enrollment."

Soon-Shion went on to note that the company is on track to submit a supplemental Biologics License Application (BLA) in Q4 of this year, based on the current analyzed data.

ImmunityBio Inc. is an American immunotherapy company based in California that has "progressed into a clinical-stage biotechnology company with 27 clinical trials — 18 of which are in Phase 2 or 3 development — across 13 indications in liquid and solid tumors."

On its website, the company describes Anktiva as, ". . . the first FDA-approved immunotherapy designed to activate the body's natural immune system to target and attack BCG-unresponsive non-muscle invasive bladder CIS (NMIBC CIS), potentially leading to a long duration of complete response with some patients exceeding 53+ months."

A Hot and Cold Biotech/Pharma Market

In a March 26, 2026, article for Fierce Biotech, Nick Paul Taylor wrote that pharma funding had fallen from 2024 but noted that, "2025 was still the third-best year of the past decade. Similarly, overall funding was well above the pre-pandemic norm and only topped by 2020, 2021, and 2024."

In contrast, J. Edward Moreno of Sherwood News reported on January 14, 2026, that, "In 2025, announced global biotech deals totaled US$228.4 billion, up from US$132.3 billion in 2024, data from Dealogic shows . . . Just two weeks into 2026, US$9.2 billion in deals have been announced."

Moreno went on to add that movement is expected in the sector: "As some of the most lucrative drugs lose exclusivity in the next few years, pharmaceutical giants are increasingly shopping around for biotechs to add to their portfolios — and they are more than happy to pay a hefty premium for the right company . . . For some Big Pharma companies, business development spending is now about equal to, or more than, research and development."

Moreno's statement could explain the drop investors are beginning to see in research and development spending at biotech and pharma companies. On March 25, 2026, BioSpace's Annalee Armstrong reported that, "R&D spending at the top 16 pharmaceutical companies declined by 3.6% overall in 2025, as many aggressively cut spending and refocused pipelines."

Concerns With the FDA

Recently, the FDA criticized Founder, Executive Chairman Soon-Shion's representation of Anktiva via TV ads and podcasts.

"In a March 13 warning letter to ImmunityBio, which is primarily owned and controlled by Soon-Shiong, the agency found fault with numerous comments about the therapy, called Anktiva. The drug is marketed as a treatment for a type of bladder cancer, but the FDA noted both the ad and podcast suggested it was able to treat 'all cancers'," reported Ed Silverman for Stat News on March 13, 2026.

The company faced further concern that it may downplay risks of side effects, make promises of 'cures' that are not supported by data, and omit that Anktiva must be paired with a vaccine.

Analysts Rate the Stock a Buy

Analyst Jason Kolbert of D. Boral Capital assigned ImmunityBio a 'Buy' rating on March 26, 2026, reasoning that the company's drug trial update, "helps de-risk execution around the trial design and enrollment assumptions while preserving the company's stated path to final analysis and a supplemental BLA submission in 2026, rather than changing the underlying development timeline or introducing a new clinical hurdle."

Kolbert cautioned that results are still pending and offered a price target of US$23.00.

For H.C. Wainwright & Co., analysts Andres Maldonado and Andrew Fein also issued a 'Buy' rating, but with the lower price target of US$15.00.

They said that ImmunityBio's trial update, "meaningfully strengthens the commercial and clinical positioning of ANKTIVA within NMIBC, particularly by expanding its relevance into papillary-only disease, a sizable segment with limited approved options." [OWNERSHIP_CHART-10496]

Catalysts

Looking to the future, Richard Adcock, President and CEO of ImmunityBio, said, "With ANKTIVA approved with BCG for adult patients with BCG-unresponsive NMIBC CIS with or without papillary disease in 34 countries and territories, the opportunity to extend its use earlier in the disease course in the BCG-naïve setting represents a substantial expansion of the addressable patient population."

The company plans to file a supplemental BLA later this year.

Ownership & Share Structure¹

ImmunityBio Inc. has a market cap of US$8.3 billion and 1.03 billion shares outstanding.

Institutions own 16.89% of shares, while Strategic Investors own 60.33%. Management & Insiders hold 3.32% of shares, and the remaining 19.46% are held by Retail.

Important Disclosures:

Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: IBRX:NASDAQ, )

Rare Disease Biotech Sell Rating Maintained: Early Clinical Data Fails to Offset Flagship Drug Revenue Decline

Thu, 26 Mar 2026 00:00:00 PST

Source: Mitchell Kapoor 03/26/2026

H.C. Wainwright reiterated a Sell rating on Sarepta Therapeutics Inc. (SRPT:NASDAQ), arguing that promising but early-stage siRNA muscle concentration data in DM1 and FSHD cannot compensate for falling ELEVIDYS sales, a fatal adverse event in SRP-1003, and intensifying competition from Avidity and Dyne ahead of a potential 2030 market entry.

Published March 26, 2026, analysts Mitchell S. Kapoor and Raghuram Selvaraju, Ph.D. of H.C. Wainwright & Co. reiterated their Sell rating on Sarepta Therapeutics Inc. (SRPT:NASDAQ) with an unchanged 12-month price target of US$5.00, implying roughly 79% downside from the March 25, 2026 closing price of US$23.77.

The analysts argue that encouraging early-stage siRNA data from the company's DM1 and FSHD programs, while attention-grabbing, cannot compensate for the ongoing deterioration in ELEVIDYS sales and the broader risks surrounding Sarepta's PMO-based product portfolio.

siRNA Programs: Impressive Muscle Concentration, Incomplete Clinical Story

Sarepta's DM1 candidate SRP-1003, developed using Arrowhead Pharmaceuticals, Inc.'s (ARWR:NASDAQ) TRiM platform, demonstrated notably higher muscle concentration than competing approaches — 12.2nM versus approximately 1.43nM for Avidity Biosciences' AOC 1001 (an mAb-siRNA) and approximately 1.86nM for Dyne Therapeutics, Inc.'s (DYN: NASDAQ) DYNE-101 (a Fab-ASO).

However, the analysts caution that this mechanistic advantage has not yet translated into clearly superior clinical outcomes. Sarepta disclosed only Cohort 1 DMPK knockdown data, showing just over 50% placebo-adjusted reduction, while acknowledging it lacks Cohort 2 and 3 data due to sample-availability and assay-transition issues. By comparison, Avidity reported approximately 47% placebo-adjusted DMPK reduction despite far lower muscle concentration, while Dyne reported approximately 26% reduction alongside a 3.3-second video hand opening time (vHOT) improvement at six months — sustained to one year — versus Avidity's approximately 2–3 second vHOT improvement at one year. The analysts conclude that investors supporting the bull case are relying on "multi-step mechanistic extrapolation vs. clean human dose-response with clear superior biology."

In FSHD, SRP-1001 similarly leads on muscle concentration at 28.4nM compared to approximately 4.5nM for Avidity's delpacibart braxlosiran, and reported approximately 90% placebo-adjusted suppression across DUX4-regulated gene panels along with a 33% creatine kinase (CK) reduction. The analysts note, however, that the DUX4 analysis was pooled across lower single-ascending-dose cohorts, with the dataset still too small to demonstrate a dose response, and that data dropout occurred during a transition from fit-for-purpose to validated assays. On a cross-trial basis, SRP-1001's 33% CK reduction only modestly exceeded the approximately 30% CK decline previously reported by Avidity, while Sarepta's DUX4 panel data carried placebo error bars in the 50–60% range compared to Avidity's 53% DUX4-related gene reduction with narrower placebo error bars topping out at approximately 25%. The analysts also note that Sarepta itself cautioned investors not to over-read CK data, describing the measure as "inherently noisy."

Safety Concerns Add to the Uncertainty

On the safety front, SRP-1001 recorded one unrelated serious adverse event of chest discomfort, while SRP-1003 had one fatal arrhythmia that Sarepta characterized as unrelated to the study drug, occurring in the lowest-dose single-dose cohort.

While regulators permitted continued dose escalation, the analysts highlight that neither Dyne's Phase 1/2 DM1 program (n=56) nor Avidity's (n=38) has reported a fatal event to date. The analysts note that Sarepta "now has to carry a fatal event in a still-immature DM1 program until a larger dataset provides more clarity," even acknowledging that DM1 patients carry baseline cardiac risk.

ELEVIDYS and PMOs Remain the Key Value Drivers

The analysts emphasize that the roughly 35% single-day stock move — against the XBI's approximately 3.5% gain — reflects how little value the market had previously assigned to the siRNA programs, with investor attention firmly anchored to ELEVIDYS and the PMO franchise.

The analysts project ELEVIDYS revenue to decline sharply, from US$898.7 million in 2025 to just US$355.2 million in 2026, as the product faces significant headwinds. Total revenue is forecast to fall from US$2.198 billion in 2025 to US$1.750 billion in 2026, with net income swinging from a loss of US$713.4 million in 2025 to estimated earnings of US$435.5 million in 2026, the latter heavily supported by collaboration and licensing revenues projected at US$450 million.

Competitive Landscape and Path to Market

The analysts highlight the difficulty of Sarepta's competitive position in both DM1 and FSHD. DM1 is characterized as a crowded space, while FSHD is noted as particularly challenging, citing Roche's (ROG.SW) recent discontinuation of emugrobart — an anti-myostatin antibody that failed to show consistent improvements in muscular growth in Phase 2. With pivotal development in DM1 and FSHD not anticipated to begin until 2027 and potential market entry no earlier than 2030, the analysts argue these programs cannot offset near-term value erosion.

They further note that without a first-mover advantage, Sarepta would face "significant commercial disadvantages with respect to both pricing and patient acquisition."

Valuation

H.C. Wainwright's US$5.00 price target is derived from a discounted cash flow model using a 12% discount rate and a 2% terminal rate of decline, running through 2045. After accounting for estimated end-2026 cash of approximately US$1.5 billion and debt of approximately US$800 million, the firm arrives at an equity valuation of US$618 million.

The analysts ascribe 100% probability of approval to marketed products ELEVIDYS, Amondys 45, Exondys 51, and Vyondys 53. Key risks to the downside thesis include an FDA reversal on ELEVIDYS approval status in non-ambulatory patients, the potential for Sarepta to navigate a path forward for ELEVIDYS in patients not susceptible to liver injury, and additional favorable clinical data from development-stage assets.

Important Disclosures:

This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co., Sarepta Therapeutics Inc., March 26, 2026

Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months. Distribution of Ratings Table as of March 24, 2026 IB Service/Past 12 Months Ratings Count Percent Count Percent Buy 582 87.26% 167 28.69% Neutral 60 9.00% 10 16.67% Sell 1 0.15% 0 0.00% Under Review 24 3.60% 4 16.67% H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Mitchell S. Kapoor and Raghuram Selvaraju, Ph.D. , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Sarepta Therapeutics, Inc. and Dyne Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of February 28, 2026 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Sarepta Therapeutics, Inc. and Dyne Therapeutics, Inc.. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. A research analyst of the firm and/or the research analyst’s household has a financial interest in and own the securities of Arrowhead Pharmaceuticals, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of February 28, 2026 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Arrowhead Pharmaceuticals, Inc.. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The firm or its affiliates received compensation from Arrowhead Pharmaceuticals, Inc. for non-investment banking services in the previous 12 months. The Firm or its affiliates did not receive compensation from Sarepta Therapeutics, Inc. and Dyne Therapeutics, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm or its affiliates did receive compensation from Arrowhead Pharmaceuticals, Inc. for investment banking services within twelve months before, and will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.

The Firm does not make a market in Sarepta Therapeutics, Inc., Arrowhead Pharmaceuticals, Inc. and Dyne Therapeutics, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: SRPT:NASDAQ, )

Buy Rating Reaffirmed: ALTO-207 TRD Trial on Track

Wed, 25 Mar 2026 00:00:00 PST

Source: Paul Matteis 03/25/2026

Stifel reiterated its rating and price target on Alto Neuroscience Inc. (ANRO:NYSE) after an in-line Q4 2025 earnings report.

Published March 17, 2026, Stifel analyst Paul Matteis maintained a Buy rating on Alto Neuroscience Inc. (ANRO:NYSE) with an unchanged price target of US$33.00, representing approximately 48% upside from the then-current share price of US$22.36, following an in-line fourth quarter 2025 earnings report.

The rating reflects continued confidence in the company's precision psychiatry pipeline, led by ALTO-207, and a newly announced financing that meaningfully extends the company's cash runway.

Recent Developments

Concurrent with the earnings release, Alto Neuroscience announced a roughly US$120 million PIPE financing. Combined with the US$177 million in cash on hand at year-end 2025, the company's estimated pro forma cash position stood at approximately US$275 million as of February 28, 2026.

The report notes this capital is intended to support ALTO-207 through its planned Phase 3 trial, which is expected to initiate in early 2027, and potentially through an NDA filing. Additionally, in January 2026, ANRO disclosed the issuance of a new method-of-treatment patent, with the company anticipating intellectual property protection extending into the mid-2040s.

Pipeline & Clinical Progress

ALTO-207 (pramipexole + ondansetron) remains the analyst's primary focus and what he considers the company's most compelling asset. The combination drug candidate targets treatment-resistant depression (TRD), and its Phase 2b trial is on track to initiate in the first half of 2026, with data expected in the second half of 2027. ANRO acquired the rights to the combination and associated intellectual property from Chase Therapeutics, which had already completed Phase 1 and Phase 2a studies in major depressive disorder (MDD), allowing ANRO — with FDA concurrence — to proceed directly into Phase 2b.

The placebo-controlled, adjunctive study is designed to enroll approximately 178 TRD patients randomized 1:1, measuring change from baseline on the MADRS scale at eight weeks. The analyst draws favorable comparisons to two-drug combinations that have already achieved commercial success in neuropsychiatry, specifically Auvelity and KarXT.

ALTO-300 (agomelatine), already approved in the European Union and Australia for MDD, is on track for Phase 2b data readout in mid-2026. The program uses an EEG biomarker signature to enrich the patient population for likely responders. A blinded, pre-specified interim analysis conducted in 2025 led to optimization of the analysis population and a modest increase in target enrollment; the study now targets 200 biomarker-positive patients.

ALTO-101, a brain-penetrant PDE4 inhibitor delivered via transdermal patch and being studied for cognitive impairment associated with schizophrenia (CIAS), is expected to report topline data around the end of the first quarter of 2026. The study's primary endpoint is theta-band intertrial coherence (ITC), an EEG biomarker believed to correlate with cognitive performance. The analyst characterizes this as a signal-seeking biomarker study with relatively modest expectations. Separately, ALTO-100's Phase 2b topline data in bipolar depression (BPD) are expected in the second half of 2026.

Financial Results

For full-year 2025, ANRO reported a GAAP EPS loss of US $(2.19), in l in e w i t h t h e p r i or St i f e l es t ima t eo f U S$ (2.38), with no product revenue as expected for a clinical-stage company.

Total operating expenses for the year were US$66.4 million, comprising US$45.6 million in research and development and US$20.7 million in SG&A. Looking ahead, Stifel projects FY2026 operating expenses of US$89.0 million — US$62.0 million in R&D and US$27.0 million in SG&A — reflecting the anticipated ramp in clinical activity, with a projected FY2026 GAAP EPS loss of US$(2.08).

Valuation & Target Price Methodology

Stifel's US$33 target price is derived from a discounted cash flow analysis using an 11.5% discount rate and a 1% terminal growth rate. ALTO-300 revenues in MDD are risk-adjusted at 25%, while ALTO-207 is modeled at a 40% probability of success, reflecting prior pramipexole data and positive KOL feedback, tempered by the absence of ANRO-specific randomized Phase 2 data. Modest credit is also ascribed to ALTO-100 in BPD and ALTO-101 in schizophrenia.

Risks

The analyst highlights clinical, regulatory, and commercial risks inherent to an early-stage biotechnology investment. These include the possibility of pipeline failures, safety setbacks, inability to obtain FDA approval, competitive pressure, and insurer pushback.

The risk of additional dilutive equity offerings is also noted, though the recently completed PIPE is expected to fund operations through a potential NDA for ALTO-207.

Analyst Outlook

Stifel remains constructive on ANRO, viewing the stock as largely valued on the ALTO-207 program while characterizing the risk/reward on the remaining pipeline as upside-biased.

With the Phase 2b TRD trial for ALTO-207 set to begin in the first half of 2026, Phase 2b MDD data for ALTO-300 expected mid-year, and near-term CIAS data from ALTO-101 due by the end of Q1 2026, the analyst sees a series of meaningful catalysts ahead. At the time of publication, ANRO shares traded at US$22.36, implying approximately 48% potential return to the US$33 target price.

Important Disclosures:

As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Alto Neuroscience Inc.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for Stifel, Alto Neuroscience Inc., March 17, 2026

I, Paul Matteis, research analyst, certify that the views expressed in this research report accurately reflect my personal views about the subject securities or issuers; and I, Paul Matteis, certify that no part of my compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report. Our European Policy for Managing Research Conflicts of Interest is available at www.stifel.com/institutional/ImportantDisclosures. Alto Neuroscience, Inc. (ANRO) as of March 16, 2026 (in USD) Price (USD) 25 20 15 10 5 0 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 Jul-25 Oct-25 Jan-26 Apr-26 02/27/2024 14.36 I:B:32.00 11/12/2024 4.50 B:10.00 11/13/2025 11.35 B:33.00 *Represents the value(s) that changed. Buy=B; Hold=H; Sell=S; Discontinued=D; Suspended=SU; Discontinued=D; Initiation=I The disclosures contained in this report are applicable as of the date of publication. For a current price chart with historical rating and target price changes as well as current disclosures for ANRO go to http://stifel2.bluematrix.com/sellside/Disclosures.action?ticker=ANRO Alto Neuroscience, Inc. is a client of Stifel or an affiliate or was a client of Stifel or an affiliate within the past 12 months. Alto Neuroscience, Inc. is provided with investment banking services by Stifel or an affiliate or was provided with investment banking services by Stifel or an affiliate within the past 12 months. Stifel or an affiliate has received compensation for investment banking services from Alto Neuroscience, Inc. in the past 12 months. Stifel or an affiliate expects to receive or intends to seek compensation for investment banking services from Alto Neuroscience, Inc. in the next 3 months. Stifel or an affiliate is a market maker or liquidity provider in the securities of Alto Neuroscience, Inc.. The equity research analyst(s) responsible for the preparation of this report receive(s) compensation based on various factors, including Stifel's overall revenue, which includes investment banking revenue. Investment Rating System Our investment rating system is defined as follows: Buy - We expect a total return of greater than 10% over the next 12 months with total return equal to the percentage price change plus dividend yield. Speculative Buy1 - We expect a total return of greater than 30% over the next 12 months, with total return equal to the percentage price change plus dividend yield, accompanied by substantially higher than normal risk including the possibility of a binary outcome. Hold - We expect a total return between -5% and 10% over the next 12 months with total return equal to the percentage price change plus dividend yield. Sell - We expect a total return below -5% over the next 12 months with total return equal to the percentage price change plus dividend yield. Occasionally, we use the ancillary rating of Suspended (SU) to indicate a long-term suspension in rating and/or target price, and/or coverage due to applicable regulations or Stifel policies. Alternatively, Suspended may indicate the analyst is unable to determine a “reasonable basis” for rating/target price or estimates due to lack of publicly available information or the inability to quantify the publicly available information provided by the company and it is unknown when the outlook will be clarified. Suspended may also be used when an analyst has left the firm. 1 This rating is only utilised by Stifel Canada. Of the securities we rate, 51% are rated Buy, 0.25% are rated Speculative Buy, 18% are rated Hold, 1% are rated Sell and 30% are rated Suspended.

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( Companies Mentioned: ANRO:NYSE, )

America's First Brain-Dedicated PET Scanning Clinics: A Turnaround Play for Chart-Savvy Investors?

Thu, 26 Mar 2026 00:00:00 PST

Source: Stewart Thomson 03/26/2026

Technical Analyst Stewart Thomson explains why he thinks Algernon Health (AGN:CSE; AGNPF:OTCQB; AGW0:XFRA) is a Strong Speculative Buy.

Algernon Health (AGN:CSE; AGNPF:OTCQB; AGW0:XFRA) is a Canadian healthcare company.

Technical charts show the company's stock is basing and flashing new signals to buy. Investors and analysts can view a key video update on the company's new and very significant growth plan here.

This plan will make the company's main business diagnosing Alzheimer's disease, using high-technology brain-optimized Positron Emission Tomography (PET) scans for diagnosis, with the goal of capturing a US$6.9 billion emerging market. Medicare, Medicaid, and private insurance will cover the cost for the patients, making the target market both enormous and enticing.

Algernon to Open the First Brain-Dedicated PET Scanning Clinic in the U.S. at the HCA Florida University Medical Office Building – Globe News Wire, March 23, 2026.

Investors and analysts can read more here.

Florida's Retirement Community

Alzheimer's affects older people, and Florida has a huge retirement community.

They are the target market for the company's new flagship clinic, with the doors expected to open for patients in just a few months.

Investors and analysts can read the news release on the Novascan Neuroimaging Clinics here.

Alzheimer's: A New Direction for Algernon

The company is entering the Alzheimer's Disease (AD) diagnostic market segment with plans to establish a network of dedicated neuroimaging medical clinics in the U.S., utilizing the most advanced, FDA-cleared brain-specific PET scanner to focus on early-stage detection of the disease.

The Vision

A Focus on Alzheimer's

Funding in Place for the Expansion

Investors and analysts can read the funding details here:

Algernon Announces Additional Increase to Private Placement Financing to CA$858,000 and Final Closing of the Financing.

Treatment with DMT, A Natural Psychedelic Compound for Brain Injury

Alongside its work in the Alzheimer's Disease market, Algernon was the first company in the world to investigate DMT for stroke and traumatic brain injury recovery.

DMT is a natural compound that may promote neuroplasticity in the brain after injuries like a concussion or stroke.

It is part of the tryptamine family, which also includes psilocybin and psilocin. DMT increases brain-derived neurotropic factor (BDNF), which is critical to healing after a stroke or traumatic brain injury.

AGN NeuroScience

Algernon NeuroScience (AGN Neuro) is a wholly owned private subsidiary of Algernon Pharmaceuticals and has been established to advance its DMT program for stroke and traumatic brain injury (TBI).

PET Scan Launch Partners

The launch partners are highly respected players in the U.S. health care space.

Recent Developments and FDA Approvals

The FDA has approved two new AD antibody treatment therapies developed by Eli Lilly (Kinsula) and Eisai and Biogen (Leqembi). Both are covered by U.S. Medicare, Medicaid, and private insurance.

These therapies can clear amyloid plaque from the brain and help slow down the progression of the disease.

The FDA has also approved the new ultracompact Oncovision CareMiBrain™ brain-specific, Positron Emission Tomography (PET) scanner system, which can confirm amyloid plaque build-up, a prerequisite established by the FDA prior to the administration of the new AD drug.

Small Cap Health Care Stocks Set to Soar?

The Invesco/S&P small caps health care ETF.

There is bullish technical action on this key weekly chart:

A bullish triangle is in play.
Stochastics (14,7,7 series is oversold for only the fourth time since 2023.
RSI is almost oversold and is turning up.

Low market capitalization stocks like Algernon can benefit from a surge in the overall health care sector.

Another Key Small Caps Healthcare Chart

This daily chart shows not only bull wedge action, but a breakout today!

Note the significant volume just a few weeks ago. Small-cap stocks look set to surge, and with the launch of Algernon's Novascan clinics, the stock should be on every speculator's watch list… watching for a burst in volume that signals launch day is here.

A Key Long-Term Algernon Chart

On this weekly chart, a classic double bottom is in play in the CA$0.05 area.

Stochastics (14,5,5 series) is massively oversold and starting to flash a crossover buy signal.

Significant rallies have followed recent bursts of volume… and another burst is in play now.

Shares Outstanding

Algernon Pharmaceuticals Inc. has approximately 46.5 million to 54.1 million shares outstanding.

Significant Shareholders

The largest shareholder is AlphaNorth Asset Management, holding over 7% (approx. 2.6 million shares).

Other key insiders include CEO Christopher Moreau and CFO James Kinley.

Another Bullish Chart

There's a huge bullish divergence between the key FORCE index and the price on this daily chart.

RSI is also massively oversold.

Big volume suggests a changing of the guard… from weak hands to strong.

A Momentum-Oriented Breakout Is Next?

On this weekly line chart, the ADX momentum indicator has turned up, bullishly leading the price.

Stock price at time of writing: Approx. CA:$0.045

Short-Term Technical Price Target: CA$0.08

Medium-Term Technical Price Target: CA$0.17

Long-Term Technical Price Target: CA$0.40

Technical Rating: Strong Speculative Buy

You can view the company's investor presentation here.

Company Website: https://www.algernonhealth.com/

Important Disclosures:

Algernon Health has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
For this article, Algernon Health has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Algernon Health.
Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services, or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: AGN:CSE; AGNPF:OTCQB; AGW0:XFRA, )

Neuroscience Co. Enters Catalyst-Rich 2026 With Multiple Phase 2 Readouts and US$120M Financing

Wed, 25 Mar 2026 00:00:00 PST

Source: Patrick Trucchio 03/25/2026

H.C. Wainwright reiterated its rating and price target on Alto Neuroscience Inc. (ANRO:NYSE), citing upcoming Phase 2 data readouts for ALTO-101, ALTO-300, and ALTO-100, plus US$120 million financing to advance ALTO-207 in treatment-resistant depression through Phase 3.

On March 18, 2026, analyst Patrick R. Trucchio, CFA, of H.C. Wainwright & Co. reiterated a Buy rating and US$50 price target on Alto Neuroscience Inc. (ANRO:NYSE), following the company's fourth-quarter 2025 earnings report.

The note highlighted Alto's entry into a catalyst-rich 2026, with multiple top-line data readouts expected across its late-stage precision neuropsychiatry pipeline. At the time of publication, shares traded at US$22.45, implying approximately 123% upside to the price target.

Financial Position and Fundraising

As of December 31, 2025, Alto reported cash and cash equivalents of US$177 million, slightly above H.C. Wainwright's prior estimate of US$174 million, with the variance attributed to lower-than-expected operating expenses. The company expects this cash runway to fund planned operations into 2028, covering key data readouts.

Additionally, on March 16, Alto raised US$120 million through a private placement financing, bringing expected pro forma cash to approximately US$275 million. The additional capital is intended to support the development of ALTO-207 in treatment-resistant depression through a Phase 3 trial expected to begin in early 2027 and potentially through to a new drug application submission.

ALTO-207: Treatment-Resistant Depression

ALTO-207 is a fixed-dose combination of pramipexole (a dopamine D3-preferring D3/D2 agonist) and ondansetron (a 5-HT3 antagonist) being developed for treatment-resistant depression (TRD). A Phase 2b trial is on track to initiate in the first half of 2026 and is described as potentially pivotal in design. The study is expected to be a randomized, double-blind, placebo-controlled trial evaluating ALTO-207 as an adjunctive treatment in approximately 178 adults with TRD.

Participants will be randomized 1:1 to receive ALTO-207 or placebo during an eight-week double-blind treatment period, with the primary endpoint being change from baseline in MADRS. Top-line data from this trial is expected in the second half of 2027.

The program is supported by prior clinical evidence, including the PAX-D study conducted by the University of Oxford showing a Cohen's d of 0.87, a meta-analysis demonstrating a significant Hedges' g effect size of 0.64 (p<0.001) across randomized pramipexole trials, and data from a Phase 2a trial demonstrating a statistically significant and clinically meaningful placebo-adjusted 8.2-point mean reduction in MADRS at Week 8 (n=32; p=0.025; Cohen's d=1.1). On a risk-adjusted basis, H.C. Wainwright estimates ALTO-207 is worth US$25 per share. Alto also strengthened its intellectual property position on January 14, with patent claims expected to extend into the mid-2040s.

ALTO-101: Cognitive Impairment in Schizophrenia

On February 13, Alto announced complete enrollment for its Phase 2 trial evaluating ALTO-101, a transdermal PDE4 inhibitor with Fast Track designation, in cognitive impairment associated with schizophrenia (CIAS). The trial enrolled 83 patients across 13 U.S. clinical sites and is designed as a randomized, double-blind, placebo-controlled crossover study with a primary endpoint of theta-band inter-trial coherence (theta-ITC) on EEG. Top-line data is expected around the first quarter of 2026.

The program was further de-risked by data presented at the Annual Meeting of the American College of Neuropsychopharmacology (ACNP) on January 12–15, where an independent data set of 427 individuals (155 with schizophrenia; 272 healthy controls) validated prior findings supporting theta-ITC as the most robust EEG marker for detecting case-control differences. This represented the second large independent replication. While H.C. Wainwright does not currently assign a value to ALTO-101 pending clinical data, the firm views it as a potentially first-in-class, biomarker-guided treatment in CIAS.

ALTO-300: Major Depressive Disorder

ALTO-300 (agomelatine 25 mg) is an oral melatonergic agonist and 5-HT2C antagonist currently in a randomized, double-blind, placebo-controlled Phase 2b trial (n≈200) as an adjunctive treatment for major depressive disorder (MDD). The study enrolls biomarker-positive patients identified by EEG signals indicating increased neural noise and reduced dopaminergic activity. Phase 2b top-line data is expected in mid-2026. H.C. Wainwright views ALTO-300 as a well-differentiated, biomarker-guided adjunctive therapy with a safety advantage over existing atypical antipsychotic adjuncts. On an unadjusted basis, the firm estimates ALTO-300 may generate peak annual revenues of US$2.5 billion or more in MDD. Risk-adjusted, ALTO-300 is estimated to be worth US$20 per share.

ALTO-100: Bipolar Depression

ALTO-100 is a first-in-class small molecule that enhances neuroplasticity via BDNF pathway modulation. It is currently being evaluated for bipolar depression (BPD) in an ongoing Phase 2b trial (n≈200) targeting patients with cognitive biomarkers associated with chronicity and treatment resistance.

The trial includes a 6-week treatment phase and a 7-week open-label extension, with top-line data expected in the second half of 2026. On an unadjusted basis, H.C. Wainwright estimates ALTO-100 may generate peak annual revenues of US$1 billion or more in BPD. Risk-adjusted, ALTO-100 is estimated to be worth US$3 per share.

Precision Psychiatry Thesis

H.C. Wainwright highlighted a recent key opinion leader webinar hosted by Denovo Neuroscience as validation of the potential for precision psychiatry to disrupt the treatment landscape. The event laid out the central nervous system "tax" framework—the structural trial failures driven by high placebo responses and rater variability—that Alto's platform is designed to bypass. By using EEG- and neurobiology-driven enrichment to select patients before trial enrollment, Alto aims to increase signal detection and de-risk the late-stage attrition that has historically plagued CNS drug development. The firm views Alto's focus on biomarker-guided oral therapies as offering a scalable model that can reach a broader population through routine care settings, in contrast to interventional psychiatry approaches that are limited by capacity and specialized clinic requirements.

Valuation and Risks

H.C. Wainwright values Alto using a sum-of-the-parts and risk-adjusted discounted cash flow methodology. The firm assigns probabilities of success of 30% to ALTO-300 in MDD, 30% to ALTO-207 in TRD, and 10% to ALTO-100 in BPD. The model incorporates annual equity raises of US$150 million from 2027 through 2029 to fund clinical development and potential commercial launch, a 12% discount rate, and a 6x terminal multiple. These assumptions yield a total firm value of approximately US$2 billion, supporting the US$50 price target.

Key risks identified include clinical development risk across the pipeline, execution and trial quality risk, biomarker regulatory acceptance risk, commercial adoption risk tied to EEG-based diagnostics, financing and dilution risk given the early stage of pipeline monetization, and platform risk if biomarkers fail to consistently predict clinical response across programs. The firm does not expect revenue generation until 2028, with estimated product revenues of US$18.6 million that year, growing to US$338.5 million by 2031. GAAP EPS is estimated at negative US$2.75 for 2026 and negative US$3.44 for 2027, with profitability projected in 2031 at US$0.95 per share.

Important Disclosures:

As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Alto Neuroscience Inc.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co., Alto Neuroscience Inc., March 18, 2026

This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet. H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility. RETURN ASSESSMENT Market Outperform (Buy): The common stock of the company is expected to outperform a passive index comprised of all the common stock of companies within the same sector. Market Perform (Neutral): The common stock of the company is expected to mimic the performance of a passive index comprised of all the common stock of companies within the same sector. Market Underperform (Sell): The common stock of the company is expected to underperform a passive index comprised of all the common stock of companies within the same sector. Rating and Price Target History for: Alto Neuroscience, Inc. (ANRO-US) as of 03-16-2026 25 20 15 10 5 0 2023 Q1 Q2 Q3 2024 Q1 Q2 Q3 2025 Q1 Q2 Q3 2026 Q1 I:BUY:$10.00 04/07/25 BUY:$50.00 10/24/25 Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months. Distribution of Ratings Table as of March 16, 2026 IB Service/Past 12 Months Ratings Count Percent Count Percent Buy 584 87.03% 159 27.23% Neutral 62 9.24% 11 17.74% Sell 1 0.15% 0 0.00% Under Review 24 3.58% 4 16.67% H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Patrick R. Trucchio, CFA , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Alto Neuroscience, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of February 28, 2026 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Alto Neuroscience, Inc.. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The firm or its affiliates received compensation from Alto Neuroscience, Inc. for non-investment banking services in the previous 12 months. The Firm or its affiliates did not receive compensation from Alto Neuroscience, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Alto Neuroscience, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: ANRO:NYSE, )

First US Brain-Only PET Clinic Targets Alzheimer's Detection as Diagnostic Demand Expands

Fri, 27 Mar 2026 00:00:00 PST

Source: Streetwise Reports 03/27/2026

Algernon Health (AGN:CSE; AGNPF:OTCQB; AGW0:XFRA) is opening its inaugural brain PET clinic in Florida with a five-year lease and renewal option.

Algernon Health (AGN:CSE; AGNPF:OTCQB; AGW0:XFRA) announced that it will open its inaugural brain PET scanning clinic at the HCA Florida University Medical Office Building in Davie, Florida, located on the campus of the HCA Florida University Hospital. Algernon USA LLC, a wholly owned subsidiary, has signed a five-year lease with a five-year renewal option for the site.

According to the company, the clinic will be the first location of its kind in the United States to provide brain-dedicated PET scans to aid in the detection of Alzheimer's Disease and other forms of dementia, as well as epilepsy, neuro-oncology, and movement disorders, including Parkinson's disease. Brain PET scans for beta-amyloid plaque detection are covered by Medicare, Medicaid, and private insurance for patients aged 65 and older.

The facility will feature the U.S. FDA-cleared CareMiBrain system, a standalone diagnostic PET scanner that does not require an integrated CT component. The company stated that this design results in 25% less radiation exposure for patients compared to PET/CT scanners.

Algernon noted that two U.S. FDA-approved monoclonal antibody treatments for Alzheimer's Disease, Leqembi and Kisunla, require a positive beta-amyloid brain scan or spinal tap before patients can be authorized to receive them. These treatments are also covered by Medicare, Medicaid, and private insurance.

The company stated that the current supply of PET/CT scanners is insufficient to serve demand for Alzheimer's diagnostics and treatment, noting that 45% of these scanners are located in hospitals and are primarily used for cancer diagnostics and cardiac imaging.

Christopher J. Moreau, CEO of Algernon, said in a company news release, "We are very pleased to be opening our first neuroimaging clinic in a brand-new suite at the HCA Florida University Medical Office Building. We look forward to delivering the highest level of care possible to our patients in Florida, as part of a professional healthcare community that is dedicated to medical excellence."

Algernon previously announced that it had signed a definitive equipment order and financing agreement with Catalyst MedTech for four CareMiBrain systems to be installed in its first four planned clinics. The company stated that this represents a non-dilutive deal valued at over CA$4 million and includes an agreement to acquire an additional six systems for future clinics.

The flagship clinic will be located at 7630 SW 34th Manor in Davie, Florida. The company stated that the area includes a population of over 6.4 million people within a 60-mile radius, including 2.5 million people aged 50 and over.

Algernon Health Inc. also announced on March 25 that it has introduced NOVASCAN NEUROIMAGING CLINICS™ as the new brand name and visual identity for its planned U.S. network of brain PET scanning centers. The branding will be applied to its inaugural location at the HCA Florida University Medical Office Building in Davie, which will feature the U.S. FDA-cleared CareMiBrain system, a standalone PET scanner without an integrated CT component.

The company stated that the Florida clinic will provide dedicated, brain-optimized PET scans to aid in the detection and treatment of Alzheimer's Disease by confirming the presence of beta-amyloid plaques. The facility will also be used to scan patients for other neurological conditions, including dementia, epilepsy, Parkinson's disease, multiple sclerosis, and brain cancer, and will be available for clinical trials evaluating new tracers.

According to the company, the CareMiBrain system delivers 25% less radiation exposure compared to traditional PET/CT scanners, as it does not include a CT component. The company also noted that its inaugural clinic is located approximately twenty minutes southwest of Fort Lauderdale and is being prepared for opening, with further updates expected regarding the official launch date and the commencement of patient referrals.

Christopher J. Moreau said in a company news release, "Our goal was to settle on a name and symbol that would capture the essence of what we are planning to achieve in offering a new approach to dedicated brain PET scanning as an important component of the healthcare system."

Advancing Alzheimer's Detection Through Biomarkers, Diagnostics, and Early Care Initiatives

Research published March 23 by Lund University highlighted the growing role of biomarkers in identifying Alzheimer's disease well before symptoms appear. According to the study, "signs of Alzheimer's in the brain can be detected in the blood up to 20 years before symptoms become apparent," reflecting a shift toward earlier-stage detection. The research also addressed limitations in existing methods, noting that "a blood marker can sometimes produce a positive result in people who do not yet meet the criteria for the disease," with false-positive results observed in 43 per cent of cases with elevated p-tau217 levels.

By combining biomarkers, the researchers stated that "we can better identify which people have Alzheimer's disease and which of them have such an advanced stage of the disease that it leads to symptoms," while reducing false positives and improving diagnostic accuracy.

Developments in blood-based diagnostic tools were also reported by CLP on March 23 in coverage of new immunoassay technologies targeting neurodegenerative biomarkers. According to that report, new assays were designed to detect Alzheimer's-related tau changes "at the preclinical stage," supporting earlier identification of disease processes. The same report noted that clinical guidelines had begun incorporating these tools, stating that the Alzheimer's Association had recommended blood-based biomarker tests, including plasma p-tau217, as "triaging and confirmatory tools in patients with objective cognitive impairment," with specified sensitivity and specificity thresholds for clinical use.

Feng Xuan, founder and chief executive officer of a company developing such assays, stated in a release, "Our goal is to place the most sensitive protein biomarker tools in the hands of scientists tackling complex neurodegenerative diseases," while Oliver Tassinari added that the technology enabled "richer data from more assays without depleting samples."

Policy and healthcare system initiatives were also addressing diagnostic capacity and access. A March 23 announcement from U.S. lawmakers introduced legislation aimed at improving provider training for dementia detection and care. According to the release, the proposed legislation would "improve detection, diagnosis, and treatment of Alzheimer's, as well as other forms of dementia" through expanded training opportunities.

Senator Amy Klobuchar stated that "detecting Alzheimer's and other dementias early can reduce stress for patients and families, lower unnecessary health costs, and improve access to care," while Rachel Conant of the Alzheimer's Association noted that "delays in diagnosis often mean missed opportunities for care, planning and support," emphasizing the role of earlier identification within community-based healthcare settings.

Technical Analyst Highlights Alzheimer's Diagnostic Strategy and Assigns Speculative Buy Rating

¹According to a March 26 report from Stewart Thomson, Algernon Health Inc. was described as "a Canadian healthcare company," with a strategic focus on Alzheimer's diagnostics using brain-optimized PET imaging. The report stated that "this plan will make the company's main business diagnosing Alzheimer's disease, using high-technology brain-optimized Positron Emission Tomography (PET) scans for diagnosis," and referenced "the goal of capturing a US$6.9 billion emerging market."

Thomson also wrote on March 26 that "the company is entering the Alzheimer's Disease (AD) diagnostic market segment with plans to establish a network of dedicated neuroimaging medical clinics in the U.S.," adding that the clinics would utilize "the most advanced, FDA-cleared brain-specific PET scanner to focus on early-stage detection of the disease."

In the same report, Thomson assigned a "Technical Rating: Strong Speculative Buy" to the company and outlined price targets of "CA$0.08" in the short term, "CA$0.17" in the medium term, and "CA$0.40" in the long term.

U.S. Clinic Rollout, Equipment Deployment, and Brain Specific PET Scanning Expansion

The company stated in its investor presentation that it plans to open multiple neuroimaging clinics across the United States, beginning with its flagship location in Davie, Florida.

Algernon also indicated that it intends to work in partnership with neurologists, geriatricians, primary care physicians, and other healthcare providers to generate patient referrals, while also marketing directly to the population aged 50 and over to promote early detection through cognitive testing, blood biomarker testing, and brain PET scans.

In support of its clinic rollout, the company has entered into a supply, financing, and services agreement valued at approximately CA$4 million for the delivery of four U.S. FDA-cleared CareMiBrain systems for its initial clinics, with an additional agreement to acquire up to six more systems for future locations. [OWNERSHIP_CHART-9895]

The investor presentation also outlined partnerships with a U.S.-based provider of molecular imaging and nuclear medicine technology, which will supply equipment and provide regulatory, licensing, and clinical support services for the planned clinic network.

Additionally, the company noted the potential for a future NASDAQ listing as part of its broader corporate strategy.

Ownership and Share Structure²

Management and insiders own about 11% of the company, and about 21% is owned by institutions. The rest is with retail.

Algernon has 54.1 million outstanding shares, a market cap of US$1.37 million, and a 52-week range of US$0.035 - US$0.10.

Important Disclosures:

Algernon Health has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Algernon Health.
James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Disclosure for the quote from the Stewart Thomson article published on March 26, 2026

For the quoted article (published on March 26, 2026), Algernon Health has paid Street Smart, an affiliate of Streetwise Reports, US$3000.
Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: AGN:CSE; AGNPF:OTCQB; AGW0:XFRA, )

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