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]

Core Viewpoint - Alector, Inc. experienced a significant decline in stock price following the announcement of disappointing results from its midstage study of AL002 for early Alzheimer's disease, leading to a 35.1% drop in shares on November 26 [1]. Study Results - The phase II INVOKE-2 study aimed to evaluate the safety and efficacy of AL002 in slowing disease progression in early Alzheimer's disease, with the primary endpoint being the Clinical Dementia Rating Sum of Boxes (CDR-SB) scale [2]. - AL002 did not meet the primary endpoint of slowing clinical progression as measured by the CDR-SB, and there were no favorable treatment effects on secondary clinical and functional endpoints [3]. - The study also showed no significant effects on Alzheimer's fluid biomarkers or reductions in brain amyloid levels, although some positive signs of sustained target engagement and microglial activation were noted [4]. Company Response - Following the study results, Alector decided to discontinue the open-label extension study of AL002 [5]. - The company plans to present the data at a future scientific conference and is focusing on developing other candidates for neurodegenerative diseases, including latozinemab (AL001) and AL101/GSK4527226 in collaboration with GSK plc [6][7]. Future Plans - Alector is currently conducting the phase III INFRONT-3 study for latozinemab targeting frontotemporal dementia with a progranulin gene mutation, with top-line data expected in late 2025 or early 2026 [7]. - The phase II PROGRESS-AD study is evaluating AL101/GSK4527226 for early Alzheimer's disease, with over one-third of the target enrollment already achieved [8]. - To align resources for pipeline development, Alector plans to reduce its workforce by nearly 17% [8]. Financial Position - As of September 30, 2024, Alector reported cash, cash equivalents, and investments totaling $457.2 million, which is expected to fund operations through 2026 [9]. Market Context - Currently, there are two FDA-approved drugs for early symptomatic Alzheimer's disease: Leqembi and Kisunla, both targeting the reduction of amyloid beta plaque accumulation in the brain [10][11].

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 ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Alector, Inc.'s unaudited condensed consolidated financial statements for Q3 and YTD September 2024 are presented, showing a $117.0 million net loss for the nine-month period and $71.1 million from a January 2024 public offering Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--- | :--- | :--- | | Cash, cash equivalents, and marketable securities | $457,202 | $548,861 | | Total Assets | $516,023 | $621,827 | | Total Liabilities | $397,090 | $487,669 | | Total Stockholders' Equity | $118,933 | $134,158 | Condensed Consolidated Statement of Operations Highlights (in thousands) | Metric | Three Months Ended Sep 30, 2024 (in thousands) | Three Months Ended Sep 30, 2023 (in thousands) | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :--- | :--- | :--- | :--- | :--- | | Collaboration Revenue | $15,342 | $9,109 | $46,318 | $81,872 | | Research and Development | $47,998 | $46,328 | $139,479 | $144,392 | | Net Loss | $(42,220) | $(44,475) | $(116,975) | $(88,957) | | Net Loss Per Share | $(0.43) | $(0.53) | $(1.22) | $(1.07) | Condensed Consolidated Statement of Cash Flows Highlights (in thousands) | Metric | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | $(174,877) | $(138,092) | | Net cash provided by investing activities | $65,729 | $83,847 | | Net cash provided by financing activities | $71,752 | $1,960 | - In January 2024, the company completed a public offering, issuing 10,869,566 shares of common stock which resulted in aggregate net proceeds of **$71.1 million**[21](index=21&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and operations, highlighting progress in clinical programs for FTD and Alzheimer's, supported by collaboration revenues and a cash runway through 2026 - The company is focusing its development resources on key clinical candidates: **latozinemab** for frontotemporal dementia (FTD), and **AL002** and **AL101** for Alzheimer's disease (AD)[46](index=46&type=chunk) - Key clinical milestones achieved include target enrollment in the pivotal **Phase 3 INFRONT-3 trial for latozinemab**, **FDA Breakthrough Therapy Designation for latozinemab**, and the first participant dosed in the **PROGRESS-AD Phase 2 trial for AL101**[46](index=46&type=chunk) - As of September 30, 2024, the company had **$457.2 million** in cash, cash equivalents, and marketable securities, which is anticipated to provide a financial runway **through 2026**[48](index=48&type=chunk)[72](index=72&type=chunk) Comparison of Results of Operations (in thousands) | Metric | Three Months Ended Sep 30, 2024 (in thousands) | Three Months Ended Sep 30, 2023 (in thousands) | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :--- | :--- | :--- | :--- | :--- | | Collaboration Revenue | $15,342 | $9,109 | $46,318 | $81,872 | | R&D Expenses | $47,998 | $46,328 | $139,479 | $144,392 | | G&A Expenses | $15,778 | $13,364 | $44,587 | $41,767 | | Net Loss | $(42,220) | $(44,475) | $(116,975) | $(88,957) | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=26&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate sensitivity on its $457.2 million investment portfolio, with foreign currency risk deemed minimal due to U.S. dollar-denominated expenses - The company's primary market risk is **interest rate sensitivity**. An immediate **100 basis point change** in interest rates would cause a change in the fair value of its investment portfolio of approximately **$2.2 million** as of September 30, 2024[82](index=82&type=chunk) - Foreign currency risk is **not considered material** as expenses are generally denominated in **U.S. dollars**. A 10% change in exchange rates would **not have a material effect** on financial results[83](index=83&type=chunk) [Item 4. Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2024, with no material changes to internal control over financial reporting during the quarter - Based on an evaluation as of September 30, 2024, the Principal Executive Officer and Principal Financial and Accounting Officer concluded that the company's disclosure controls and procedures were **effective at a reasonable assurance level**[85](index=85&type=chunk) - **No changes in internal control over financial reporting** occurred during the quarter ended September 30, 2024, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[86](index=86&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=28&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any legal proceedings expected to have a material adverse effect on its business - As of the filing date, the company is **not a party to any litigation or legal proceedings** that are expected to have a **material adverse effect** on its business[87](index=87&type=chunk) [Item 1A. Risk Factors](index=28&type=section&id=Item%201A.%20Risk%20Factors) This section outlines significant risks including limited operating history, substantial net losses, high uncertainty in neurodegenerative drug development, reliance on third parties, and the need for additional financing - The company has a **limited operating history**, **no approved products**, and has incurred **significant net losses** each year, with an **accumulated deficit of $827.1 million** as of September 30, 2024[91](index=91&type=chunk)[92](index=92&type=chunk)[93](index=93&type=chunk) - The business is **heavily dependent on the success of its product candidates**, which are in various stages of development. Drug development is **inherently risky**, particularly in the field of neurodegenerative diseases, which has seen **limited success**[96](index=96&type=chunk)[101](index=101&type=chunk)[106](index=106&type=chunk) - The company will need to obtain **substantial additional financing** to complete development and commercialization. Failure to raise capital could force **delays, reductions, or termination of its programs**[98](index=98&type=chunk) - The company **depends on collaborations with third parties** like GSK and AbbVie for development and commercialization, and these collaborations pose risks such as **potential termination or underperformance by partners**[162](index=162&type=chunk) - Clinical trials may face **substantial delays, enrollment difficulties, or fail to demonstrate safety and efficacy**. For example, **treatment-emergent MRI findings resembling ARIA** have been observed in the INVOKE-2 Phase 2 clinical trial[107](index=107&type=chunk)[111](index=111&type=chunk)[114](index=114&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=78&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities during the period - **None**[233](index=233&type=chunk) [Item 5. Other Information](index=78&type=section&id=Item%205.%20Other%20Information) This section discloses the termination and adoption of new Rule 10b5-1 trading plans by the CFO for the potential sale of up to 84,357 shares of common stock - On September 12, 2024, CFO Marc Grasso **terminated a Rule 10b5-1 trading plan** adopted in August 2023[234](index=234&type=chunk) - On September 13, 2024, CFO Marc Grasso **adopted a new Rule 10b5-1 trading plan** for the exercise of options and sale of **up to 84,357 shares of common stock**, which will expire on September 13, 2025[234](index=234&type=chunk) [Item 6. Exhibits](index=78&type=section&id=Item%206.%20Exhibits) This section provides an index of exhibits filed with the Form 10-Q, including certifications from the Principal Executive Officer and Principal Financial Officer - The report includes **certifications from the Principal Executive Officer and Principal Financial Officer** pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[235](index=235&type=chunk)[237](index=237&type=chunk)

[Executive Summary & Business Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Highlights) Alector reported strong Q3 2024 financial results, a robust cash position, and key updates on its TREM2 and Progranulin clinical programs [Q3 2024 Overview](index=1&type=section&id=Q3%202024%20Overview) Alector reported strong Q3 2024 results, maintaining a **$457.2 million** cash position through 2026, and updated on key clinical programs AL002 and latozinemab - Alector's cash, cash equivalents, and investments totaled **$457.2 million** as of September 30, 2024, providing a financial runway through **2026**[1](index=1&type=chunk)[13](index=13&type=chunk) - Data from the INVOKE-2 Phase 2 trial, evaluating TREM2 agonist candidate AL002 in early Alzheimer's disease, is on track for release in **2024**[1](index=1&type=chunk)[2](index=2&type=chunk) - Participant baseline characteristics in the pivotal INFRONT-3 Phase 3 trial for latozinemab in FTD-GRN suggest a representative study population[1](index=1&type=chunk)[2](index=2&type=chunk) [CEO & R&D Head Commentary](index=1&type=section&id=CEO%20%26%20R%26D%20Head%20Commentary) CEO and R&D Head highlighted significant pipeline progress, including AL002's potential, INFRONT-3 patient data, PROGRESS-AD enrollment, and ABC technology advancements - AL002, the most advanced TREM2 candidate for early Alzheimer's disease, is expected to report INVOKE-2 Phase 2 trial data in **2024**, with potential for potent and durable therapeutic benefits[2](index=2&type=chunk) - The INFRONT-3 Phase 3 clinical trial for latozinemab in FTD-GRN has reported patient baseline characteristics suggesting a representative study population, with top-line data expected in **late 2025/early 2026**[2](index=2&type=chunk) - PROGRESS-AD, the Phase 2 trial of AL101/GSK4527226 in early Alzheimer's disease, has reached over **one-third** of its target enrollment[2](index=2&type=chunk) - Alector is actively advancing its proprietary Alector Brain Carrier (ABC) technology platform to improve the delivery of therapeutics to the brain for neurodegenerative diseases[2](index=2&type=chunk) [Recent Clinical Updates](index=2&type=section&id=Recent%20Clinical%20Updates) Alector provided comprehensive updates on its immuno-neurology pipeline, including TREM2 and Progranulin programs, and Alector Brain Carrier technology advancements [Immuno-Neurology Portfolio](index=2&type=section&id=Immuno-Neurology%20Portfolio) Alector updated its immuno-neurology pipeline, covering the TREM2 program (AL002) and Progranulin programs (latozinemab and AL101/GSK4527226) for neurodegenerative diseases [TREM2 Program (AL002)](index=2&type=section&id=TREM2%20Program%20(AL002)) The AL002 Phase 2 INVOKE-2 trial for early Alzheimer's disease is on track for 2024 results, with AbbVie holding a **$250 million** option for global rights - Results from the INVOKE-2 Phase 2 clinical trial of AL002 for early Alzheimer's disease are expected in **2024**[3](index=3&type=chunk) - **98%** of eligible participants who completed the planned treatment period of INVOKE-2 have elected to participate in the long-term extension (LTE) study[4](index=4&type=chunk) - A manuscript published in **October 2024** detailed preclinical and INVOKE-1 Phase 1 study results, showing AL002 engaged TREM2 and induced pharmacodynamic biomarker changes associated with microglial proliferation, survival, and phagocytic activity[5](index=5&type=chunk) - AbbVie has an exclusive option to globally develop and commercialize AL002, with a **$250 million** payment to Alector upon exercise[6](index=6&type=chunk) [Progranulin Programs (latozinemab (AL001) and AL101/GSK4527226)](index=2&type=section&id=Progranulin%20Programs%20(latozinemab%20(AL001)%20and%20AL101%2FGSK4527226)) The pivotal INFRONT-3 Phase 3 trial for latozinemab in FTD-GRN is on track for late 2025/early 2026 data, with AL101/GSK4527226's PROGRESS-AD trial progressing - The pivotal INFRONT-3 Phase 3 clinical trial of latozinemab for FTD-GRN is ongoing and on track, with enrollment completed in **October 2023** and a treatment duration of **96 weeks**[6](index=6&type=chunk) - Top-line data readout for INFRONT-3 is approaching in **late 2025/early 2026**[2](index=2&type=chunk) - Baseline characteristics of symptomatic INFRONT-3 participants were representative of the broader FTD-GRN registry population[7](index=7&type=chunk) - PROGRESS-AD, a Phase 2 clinical study evaluating AL101/GSK4527226 in early AD, has reached more than **one-third** of its target enrollment of **282 participants**[8](index=8&type=chunk) [Early Research Pipeline](index=3&type=section&id=Early%20Research%20Pipeline) Alector is advancing its proprietary Alector Brain Carrier (ABC) technology to optimize therapeutic delivery to the brain for next-generation immuno-neurology treatments - Alector continues to advance its Alector Brain Carrier (ABC), a proprietary, versatile blood-brain barrier technology platform[9](index=9&type=chunk) - The ABC technology platform enables customization of affinity, valency, and format to optimize effector function and half-life in preclinical models, aiming to improve delivery of therapeutics to the brain[9](index=9&type=chunk) [Third Quarter 2024 Financial Results](index=3&type=section&id=Third%20Quarter%202024%20Financial%20Results) Alector reported Q3 2024 financial results, detailing changes in collaboration revenue, operating expenses, net loss, and current cash position [Financial Performance Summary](index=3&type=section&id=Financial%20Performance%20Summary) Alector's Q3 2024 saw increased collaboration revenue, higher operating expenses, a reduced net loss, and a strong cash position despite a facility transition impairment [Collaboration Revenue](index=3&type=section&id=Collaboration%20Revenue) Collaboration revenue for Q3 2024 significantly increased year-over-year, driven by higher revenue recognition from the AL002 program | Metric | Q3 2024 (USD thousands) | Q3 2023 (USD thousands) | Change (YoY) | | :----- | :---------------------- | :---------------------- | :----------- | | Collaboration revenue | $15,342 | $9,109 | +$6,233 (+68.4%) | [Research and Development Expenses](index=3&type=section&id=Research%20and%20Development%20Expenses) Total R&D expenses for Q3 2024 modestly increased, driven by higher spending on AL101 programs and PROGRESS-AD Phase 2 clinical trial initiation | Metric | Q3 2024 (USD thousands) | Q3 2023 (USD thousands) | Change (YoY) | | :----- | :---------------------- | :---------------------- | :----------- | | Research and development | $47,998 | $46,328 | +$1,670 (+3.6%) | [General and Administrative Expenses](index=3&type=section&id=General%20and%20Administrative%20Expenses) G&A expenses increased in Q3 2024, primarily due to an impairment charge from a facility transition to the South San Francisco headquarters | Metric | Q3 2024 (USD thousands) | Q3 2023 (USD thousands) | Change (YoY) | | :----- | :---------------------- | :---------------------- | :----------- | | General and administrative | $15,778 | $13,364 | +$2,414 (+18.1%) | [Net Loss and EPS](index=3&type=section&id=Net%20Loss%20and%20EPS) Alector reported a reduced net loss and improved net loss per share for Q3 2024 compared to the prior year | Metric | Q3 2024 (USD million) | Q3 2023 (USD million) | Change (YoY) | | :----- | :-------------------- | :-------------------- | :----------- | | Net loss | $(42.2) | $(44.5) | -$2.3 (-5.2%) | | Net loss per share (USD) | $(0.43) | $(0.53) | -$0.10 (-18.9%) | [Cash Position](index=3&type=section&id=Cash%20Position) As of September 30, 2024, Alector maintained a strong cash position of **$457.2 million**, projected to fund operations through 2026 | Metric | As of Sep 30, 2024 (USD million) | As of Dec 31, 2023 (USD million) | Change (USD million) | | :----- | :------------------------------- | :------------------------------- | :------------------- | | Cash, cash equivalents, and investments | $457.2 | $548.9 | -$91.7 | [2024 Financial Guidance](index=4&type=section&id=2024%20Financial%20Guidance) Alector provided its full-year 2024 financial guidance, including projections for collaboration revenue and operating expenses [Full-Year 2024 Guidance](index=4&type=section&id=Full-Year%202024%20Guidance) Alector reiterated its full-year 2024 financial guidance, projecting collaboration revenue between **$60 million and $70 million** and total operating expenses between **$270 million and $290 million** | Metric | 2024 Guidance Range (USD million) | | :----- | :-------------------------------- | | Collaboration revenue | $60 - $70 | | Total R&D expenses | $210 - $220 | | Total G&A expenses | $60 - $70 | [Company Information](index=4&type=section&id=Company%20Information) This section provides an overview of Alector's immuno-neurology mission and includes standard forward-looking statements [About Alector](index=4&type=section&id=About%20Alector) Alector is a clinical-stage biotechnology company pioneering immuno-neurology, targeting immune dysfunction as a root cause of neurodegenerative diseases - Alector is a clinical-stage biotechnology company pioneering immuno-neurology for neurodegenerative diseases[15](index=15&type=chunk) - Its therapeutic approach targets immune dysfunction as a root cause of degenerative brain disorders[15](index=15&type=chunk) - Alector's product candidates are supported by biomarkers and seek to treat indications including Alzheimer's disease and genetically defined frontotemporal dementia patient populations[15](index=15&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section contains standard forward-looking statements regarding Alector's business, product candidates, and financial guidance, subject to risks in SEC filings - The press release contains forward-looking statements regarding business plans, product candidates, clinical trials, and financial guidance[16](index=16&type=chunk) - Such statements are subject to numerous risks and uncertainties, including those set forth in Alector's Quarterly Report on Form 10-Q filed with the SEC[16](index=16&type=chunk) - Alector specifically disclaims any obligation to update any forward-looking statement, except as required by law[16](index=16&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) This section presents Alector's selected consolidated balance sheet and statement of operations data for the reported periods [Selected Consolidated Balance Sheet Data](index=5&type=section&id=Selected%20Consolidated%20Balance%20Sheet%20Data) Alector's consolidated balance sheet data shows a decrease across cash, total assets, liabilities, and stockholders' equity from December 31, 2023, to September 30, 2024 | Metric (USD thousands) | Sep 30, 2024 (USD thousands) | Dec 31, 2023 (USD thousands) | | :-------------------- | :--------------------------- | :--------------------------- | | Cash, cash equivalents, and marketable securities | $457,202 | $548,861 | | Total assets | $516,023 | $621,827 | | Total current liabilities (excluding deferred revenue) | $87,098 | $94,973 | | Deferred revenue (including current portion) | $248,202 | $293,820 | | Total liabilities | $397,090 | $487,669 | | Total stockholders' equity | $118,933 | $134,158 | [Consolidated Statement of Operations Data](index=5&type=section&id=Consolidated%20Statement%20of%20Operations%20Data) The consolidated statement of operations data for Q3 2024 shows increased collaboration revenue and reduced net loss, while the nine-month period reflects decreased revenue and increased net loss | Metric (USD thousands, except per share) | Q3 2024 (USD thousands) | Q3 2023 (USD thousands) | 9 Months Ended Sep 30, 2024 (USD thousands) | 9 Months Ended Sep 30, 2023 (USD thousands) | | :------------------------------------------ | :---------------------- | :---------------------- | :------------------------------------------ | :------------------------------------------ | | Collaboration revenue | $15,342 | $9,109 | $46,318 | $81,872 | | Research and development | $47,998 | $46,328 | $139,479 | $144,392 | | General and administrative | $15,778 | $13,364 | $44,587 | $41,767 | | Total operating expenses | $63,776 | $59,692 | $184,066 | $186,159 | | Loss from operations | $(48,434) | $(50,583) | $(137,748) | $(104,287) | | Other income, net | $6,214 | $7,360 | $20,853 | $18,876 | | Net loss before income tax | $(42,220) | $(43,223) | $(116,895) | $(85,411) | | Income tax expense | — | $1,252 | $80 | $3,546 | | Net loss | $(42,220) | $(44,475) | $(116,975) | $(88,957) | | Net loss per share, basic and diluted (USD) | $(0.43) | $(0.53) | $(1.22) | $(1.07) | | Shares used in computing net loss per share basic and diluted | 97,519,595 | 83,927,961 | 96,007,105 | 83,513,954 | [Contacts](index=6&type=section&id=Contacts) This section provides essential contact information for Alector's corporate, media, and investor relations [Alector Contacts](index=6&type=section&id=Alector%20Contacts) This section provides contact information for Alector's corporate communications, media relations, and investor relations - Contact information for Alector (Katie Hogan), media (Dan Budwick at 1AB), and investors (Laura Perry at Argot Partners) is provided[19](index=19&type=chunk)

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 ...