Alector, Inc.
1.5500+0.05 (+3.33%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · ALEC · USD
Key Stats
Market Cap
156.88MP/E (TTM)
-Basic EPS (TTM)
-1.16Dividend Yield
0%Recent Filings
8-K
Latozinemab trial fails; cuts ensue.
Alector disclosed that its Phase 3 INFRONT-3 trial of latozinemab failed to meet the clinical co-primary endpoint for slowing frontotemporal dementia progression, despite boosting plasma progranulin levels, prompting discontinuation of the open-label extension and continuation study. The company is slashing its workforce by 49%, affecting 75 employees, with $7.7 million in expected restructuring charges through mid-2026, while President Sara Kenkare-Mitra resigns effective December 22, 2025. Cash stands at $291.1 million as of September 30, 2025, funding operations through 2027. Yet risks loom in pipeline execution.
8-K
Alector Q2 results and pipeline update
Alector reported Q2 2025 financials, posting $7.9 million in collaboration revenue, down from $15.1 million last year due to completed milestones, while R&D expenses dropped to $27.6 million from $46.3 million amid workforce cuts. The company stays on track for INFRONT-3 Phase 3 topline data by mid-Q4 2025, targeting unmet needs in FTD-GRN, with $307.3 million in cash funding operations into late 2027. PROGRESS-AD Phase 2 wraps in 2026. Cash burn eased, yet trial risks loom.
10-Q
Q2 FY2025 results
Alector narrowed its Q2 FY2025 losses to $30.5M from $38.7M y/y, as collaboration revenue dipped to $7.9M from $15.1M amid completion of certain performance obligations, while R&D expenses fell 40% to $27.6M on reduced AL002 and latozinemab program costs plus workforce cuts. Operating loss improved to $34.1M from $45.6M y/y, with net loss per share at $(0.30) versus $(0.40), confirmed against 100.4M diluted shares. Cash and equivalents stood at $44.8M with $262.5M in marketable securities for $307.3M total liquidity, supporting runway into H2 2027; long-term debt was $9.5M under the November 2024 Hercules facility. A March 2025 restructuring trimmed 13% of staff, incurring $2.3M costs. Yet clinical momentum builds: INFRONT-3 Phase 3 enrollment wrapped for latozinemab in FTD-GRN, topline data due mid-Q4 2025. Cash burn eased.
8-K
CFO Resigns, Interim Appointed
Alector announced on June 9, 2025, that CFO Dr. Marc Grasso will resign effective June 20 to pursue other opportunities, with Chief Business Officer Neil Berkley stepping in as Interim CFO while retaining his role. Grace Wong-Sarad assumes principal accounting officer duties as VP of Accounting. This leadership shift occurs amid a strong cash position extending into late 2027, supporting key trials like INFRONT-3 data in Q4 2025. Smooth transition ahead.
10-Q
Q1 FY2025 results
Alector posted Q1 FY2025 collaboration revenue of $3.7M, down sharply y/y from $15.9M as performance obligations wrapped up, yet R&D expenses fell 25% y/y to $33.6M amid program wind-downs and a 13% workforce cut. Operating loss widened slightly to $44.7M y/y, but net loss of $40.5M—or $0.41 per diluted share on 99.4M shares—reflected lower other income from reduced investments. Cash burn eased to $60.8M in operations, with $354.6M in cash and equivalents funding ops into late 2027; long-term debt stood at $9.5M. Restructuring hit $2.3M in Q1, targeting pipeline focus. Clinical momentum builds: INFRONT-3 Phase 3 for latozinemab in FTD-GRN wraps enrollment, topline due Q4 2025; PROGRESS-AD Phase 2 for AL101 in early AD completed enrollment in April 2025. GSK co-development costs shared 60/40. Competition from amyloid-targeting therapies like lecanemab and donanemab pressures market access.
ACOG
Alpha Cognition Inc.
6.57-0.03
ALZN
Alzamend Neuro, Inc.
2.45+0.09
ANRO
Alto Neuroscience, Inc.
14.04+0.42
ATHE
Alterity Therapeutics Limited
4.70-0.06
IGC
IGC Pharma, Inc.
0.40-0.01
KLTO
Klotho Neurosciences, Inc.
0.52-0.01
KRRO
Korro Bio, Inc.
38.78-1.29
NRSN
NeuroSense Therapeutics Ltd.
1.06-0.06
TCRT
Alaunos Therapeutics, Inc.
2.72+0.03
VYGR
Voyager Therapeutics, Inc.
4.61-0.05