Core Viewpoint - Bank of America Securities has downgraded Alector, Inc. due to the failure of its AL002 program in the INVOKE-2 Phase 2 trial for early Alzheimer's disease, which did not meet its primary endpoint [1][2] Group 1: AL002 Program and Impact - The AL002 program is likely considered finished following its failure to slow Alzheimer's clinical progression as measured by the Clinical Dementia Rating Sum of Boxes (CDR-SB) [1] - Alector's workforce has been reduced by 17%, and the anticipated $250 million opt-in milestone from AbbVie is not expected to be realized [2] - The failure of AL002 is expected to negatively affect investor sentiment as they await Phase 3 data on latozinemab for frontotemporal dementia [2] Group 2: Future Trials and Expectations - The INFRONT-3 Phase 3 trial has completed enrollment in October 2023, with a treatment duration of 96 weeks [3] - Alector's next significant milestone is anticipated to be the results from the Phase 3 INFRONT-3 trial, expected in late 2025 or early 2026 [4] Group 3: Analyst Outlook and Valuation - The analyst downgraded Alector from Neutral to Underperform and reduced the price target from $9 to $1, reflecting the removal of AL002 and lower valuation for AL001 [4] - Alector is viewed as being in a "wait-and-see" phase over the next year, with limited opportunities for significant progress in the near term [6] Group 4: Other Programs and Risks - While there is optimism about AL001 targeting progranulin, it carries a similar level of biological risk as AL002 [5] - AL101 presents another potential avenue for Alzheimer's disease, but its prospects are viewed cautiously until it demonstrates functional benefits [5] Group 5: Market Reaction - Alector's stock has decreased by 10.7%, trading at $2.25 [7]

Shares of Alector, Inc. (ALEC) were down 35.1% on Nov. 26 after the company announced data from a mid-stage study that evaluated its pipeline candidate, AL002, for treating individuals with early Alzheimer’s disease (AD).The phase II INVOKE-2 study evaluated the safety and efficacy of AL002 in slowing disease progression in individuals with early AD. The study's primary endpoint was to check disease progression, as measured by the Clinical Dementia Rating Sum of Boxes (“CDR-SB”) scale. The CDR-SB is a numer ...

Core Insights - Alector, Inc. announced results from the INVOKE-2 Phase 2 clinical trial for AL002, which did not meet its primary endpoint of slowing Alzheimer's disease progression as measured by the Clinical Dementia Rating Sum of Boxes (CDR®-SB) [1] - The company is halting the long-term extension study based on these results and plans to further explore TREM2 biology [2] - Alector is committed to advancing its pipeline of drug candidates for neurodegenerative diseases, including ongoing trials for latozinemab and AL101/GSK4527226 [3] Clinical Trial Results - The INVOKE-2 trial was a randomized, double-blind, placebo-controlled study evaluating AL002 in early Alzheimer's disease, with no significant effects on clinical and functional endpoints or Alzheimer's fluid biomarkers [1][7] - MRI changes resembling amyloid-related imaging abnormalities (ARIA) were observed, primarily in participants treated with AL002 [1] Pipeline and Future Plans - Alector is advancing its drug candidates, with topline data from the INFRONT-3 Phase 3 trial of latozinemab expected in late 2025 or early 2026 [3] - The PROGRESS-AD Phase 2 trial for AL101/GSK4527226 has reached over one-third of its target enrollment of 282 participants [3] Technology Development - The company is developing its proprietary blood-brain barrier technology platform, Alector Brain Carrier (ABC), aimed at enhancing therapeutic delivery and improving patient outcomes [4][9] Workforce and Financials - Alector is reducing its workforce by approximately 17% to align resources with strategic priorities [5] - As of September 30, 2024, Alector has $457.2 million in cash and equivalents, expected to provide runway through 2026 [6]

SOUTH SAN FRANCISCO, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, today announced that the Company has entered into a debt financing agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $50 million. “Alector is in a strong cash position with more than $457 million in cash and investments. This credit facility further enhances our financial strength and provides the Company with increased strategic and oper ...

Alector (ALEC) came out with a quarterly loss of $0.43 per share versus the Zacks Consensus Estimate of a loss of $0.53. This compares to loss of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.87%. A quarter ago, it was expected that this biotechnology company would post a loss of $0.49 per share when it actually produced a loss of $0.40, delivering a surprise of 18.37%.Over the last four quarters, the company has su ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38792 Alector, Inc. (Exact name of Registrant as specified in its Charter) Delaware 82-2933343 (State or other jurisdiction ...

Exhibit 99.1 Alector Reports Third Quarter 2024 Financial Results and Provides Business Update Data from INVOKE-2, evaluating TREM2 agonist candidate AL002 in patients with early Alzheimer's disease (AD), on track for 2024 Participant baseline characteristics in pivotal INFRONT-3 Phase 3 trial suggest a representative study population for testing the effects of latozinemab in frontotemporal dementia with a progranulin gene mutation (FTD-GRN) $457.2 million in cash, cash equivalents and investments provide r ...

Data from INVOKE-2, evaluating TREM2 agonist candidate AL002 in patients with early Alzheimer’s disease (AD), on track for 2024 Participant baseline characteristics in pivotal INFRONT-3 Phase 3 trial suggest a representative study population for testing the effects of latozinemab in frontotemporal dementia with a progranulin gene mutation (FTD-GRN) $457.2 million in cash, cash equivalents and investments provide runway through 2026 SOUTH SAN FRANCISCO, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Alector, Inc. ...

Alector (ALEC) came out with a quarterly loss of $0.40 per share versus the Zacks Consensus Estimate of a loss of $0.49. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.37%. A quarter ago, it was expected that this biotechnology company would post a loss of $0.48 per share when it actually produced a loss of $0.38, delivering a surprise of 20.83%.Over the last four quarters, the company ha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38792 Alector, Inc. (Exact name of Registrant as specified in its Charter) Delaware 82-2933343 (State or other jurisdiction of in ...