Alector Stock Price, News & Analysis

Alector, Inc. (Nasdaq: ALEC) reported its fourth quarter and full year 2021 financial results. As of December 31, 2021, the company had cash reserves totaling $735.3 million, which increased to over $900 million after receiving a $200 million payment from GlaxoSmithKline (GSK) in January 2022. Collaboration revenue surged to $14 million for the quarter and $207 million for the year, significantly up from previous periods. However, Alector reported a net loss of $55.6 million in Q4 2021, slightly higher than the previous year's loss. The company anticipates sufficient funds to support operations through mid-2024.

Alector, a clinical-stage biotechnology company focused on immuno-neurology, has appointed Dr. Marc Grasso as its new Chief Financial Officer. Dr. Grasso brings significant experience from Kura Oncology and leading investment banking roles. He will oversee financial operations and support corporate strategy, succeeding Linda Rubinstein, who served as interim CFO. Alector emphasizes its robust capital position and advanced clinical pipeline as it continues to develop therapies targeting neurodegenerative diseases.

Alector, a clinical-stage biotechnology company focused on immuno-neurology, announced an inducement equity grant for its new President and Head of Research and Development, Dr. Sara Kenkare-Mitra, on January 3, 2022. The package includes stock options for 300,000 shares, 59,000 restricted stock units, and 59,000 performance stock units. The stock options have an exercise price of $20.78, and vesting schedules range from three to four years. The performance stock units are contingent on achieving stock price thresholds of $30 and $40 per share.

Alector, a clinical-stage biotechnology company focused on immuno-neurology, has appointed Sara Kenkare-Mitra, Ph.D., as the new President and Head of Research and Development. This position aims to oversee the company’s R&D efforts in immuno-neurology and oncology. Dr. Kenkare-Mitra, formerly of Genentech, has over 23 years of experience, including significant contributions to drug approvals and clinical trials. Her expertise is expected to advance Alector's mission to develop innovative treatments for neurological diseases and cancers, enhancing both operational leadership and scientific goals.

Alector (NASDAQ: ALEC) announced positive results from its Phase 2 INFRONT-2 clinical trial of AL001 for frontotemporal dementia (FTD) patients with progranulin gene mutations. The treatment successfully restored progranulin levels to normal and showed a 48% reduction in clinical progression compared to a matched control cohort over 12 months. Biomarkers for disease severity, including GFAP, also improved. The company aims to advance to the Phase 3 INFRONT-3 study, seeking to further evaluate AL001’s efficacy and safety.

Alector, Inc. (NASDAQ: ALEC) has presented preclinical data for its first-in-class immuno-oncology therapy, AL009, at the Society for Immunotherapy of Cancer’s annual meeting. AL009 targets multiple Siglec receptors to enhance immune response against solid tumors. Preclinical studies indicate that AL009 significantly improves T cell function (up to 100-fold) and demonstrates efficacy in reducing tumor growth in resistant tumor models. Alector plans to commence first-in-human clinical trials for AL009 in 2022, aiming to impact a range of solid tumor types and mitigate immune suppression by tumors.

Alector (Nasdaq: ALEC) presented data from its AL003 and AL101 clinical programs at the 14th CTAD conference in November 2021. The company aims to leverage immune system mechanisms to combat neurodegenerative diseases. AL003 is in Phase 1 trials, showing a favorable safety profile, while AL101 is also in Phase 1 and is designed to elevate progranulin levels. Both candidates are progressing into further studies, with AL003 set for a Phase 2 trial in late 2022. The conference presentations include additional data on Alector's pipeline, showcasing advances in immuno-neurology therapies.

Alector, a clinical-stage biotechnology company based in South San Francisco, is announcing its participation in the Stifel 2021 Virtual Healthcare Conference. CEO Arnon Rosenthal will engage in a fireside chat on November 15, 2021, at 2:00 p.m. ET. A live webcast of the session will be accessible on Alector's Investors section. Alector specializes in immuno-neurology, focusing on innovative treatments for neurodegenerative diseases, with ongoing developments targeting conditions such as frontotemporal dementia and Alzheimer's disease. A replay of the event will be available for 90 days.

Alector, Inc. (Nasdaq: ALEC) reported significant progress in its third quarter 2021 results, including a net income of $126.6 million, or $1.56 per share, compared to a net loss of $52.7 million in Q3 2020. Collaboration revenue surged to $182.4 million, driven primarily by a $500 million upfront payment from GSK for co-developing neurodegenerative disease treatments. The company has initiated a Phase 2 trial of AL001 in ALS patients and received orphan drug designation for frontotemporal dementia.