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10-K

2023 FY

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ANRO Alto Neuroscience, Inc.

21 Mar 24

Annual report

4:26pm

The effective tax rate of the Company’s provision (benefit) for income taxes differs from the U.S. federal statutory rate as follows:

			December 31,
			2023						2022
Statutory rate			21.0		%				21.0		%
State taxes, net of federal tax benefit			6.2		%				7.0		%
Research and development tax credits			2.8		%				3.6		%
Change in valuation allowance			(30.3)		%				(31.0)		%
Other			0.3		%				(0.6		%)
Income tax provision (benefit)			0.0		%				0.0		%

10-K

2023 FY

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ANRO Alto Neuroscience, Inc.

21 Mar 24

Annual report

4:26pm

The most significant components of the Company’s deferred tax assets (liabilities) are as follows (in thousands):

			December 31,
			2023						2022
Deferred tax assets:
Net operating loss carryforwards			$	10,570					$	3,706
Stock-based compensation			319						125
R&D deferred costs			9,019						5,973
Accrued expenses and other, net			1,085						787
Tax credit carryforwards			2,172						1,484
Total deferred tax assets			23,165						12,075
Less: valuation allowance			(23,019)						(11,856)
Net deferred tax assets			146						219
Deferred tax liabilities:
Fixed assets			(146)						(219)
Net deferred taxes			$	—					$	—

10-K

2023 FY

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ANRO Alto Neuroscience, Inc.

21 Mar 24

Annual report

4:26pm

						Fiscal Year Ended December 31,
Fee Category						2023						2022
Audit fees(1)						$	779,233					$	179,088
Audit-related fees(2)						—						—
Tax fees(3)						46,426						—
All other fees(4)						—						—
Total fees						$	825,659					$	179,088

S-1/A

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ANRO Alto Neuroscience, Inc.

29 Jan 24

IPO registration (amended)

7:36am

The effective tax rate of the Company’s provision (benefit) for income taxes differs from the U.S. federal statutory rate as follows:

		December 31,
		2022				2021
Statutory rate			21.0	%			21.0	%
State taxes, net of federal tax benefit			7.0	%			6.6	%
Research and development tax credits			3.6	%			(0.5	)%
Change in valuation allowance			(31.0	)%			(27.4	)%
Other			(0.6	)%			0.3	%
Income tax provision (benefit)			0.0	%			0.0	%

S-1/A

Similar Export

ANRO Alto Neuroscience, Inc.

29 Jan 24

IPO registration (amended)

7:36am

The most significant components of the Company’s deferred tax assets (liabilities) are as follows (in thousands):

		December 31,
		2022				2021
Deferred tax assets:
Net operating loss carryforwards		$	3,706			$	2,934
Stock-based compensation			125				35
R&D deferred costs			5,973				—
Accrued expenses and other, net			787				90
Tax credit carryforwards			1,484				112
Total deferred tax assets			12,075				3,171
Less: valuation allowance			(11,856)				(3,171)
Net deferred tax assets			219				—
Deferred tax liabilities:
Fixed assets			(219)				—
Net deferred taxes		$	—			$	—