Exhibit 99.1 Alector Reports Second Quarter 2024 Financial Results and Provides Business Update Data from INVOKE-2 Phase 2 clinical trial of AL002 in individuals with early Alzheimer's disease (AD) on track for Q4 2024 Patient baseline characteristics data for the INVOKE-2 trial confirm the intended study population for testing the effects of AL002, a novel TREM2 agonist, in early AD The latozinemab pivotal INFRONT-3 Phase 3 trial continues to progress well, supported by a recent U.S. Food and Drug Administ ...

SOUTH SAN FRANCISCO, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, today announced it will host a conference call and webcast on Wednesday, August 7, 2024, at 4:30 p.m. ET to discuss results for the second quarter ended June 30, 2024, and provide a mid-year business update. A press release detailing second quarter results will be issued prior to the call. The event will be webcast live under the investor relations ...

--INVOKE-2 is the first global Phase 2 trial evaluating the safety and efficacy of a TREM2 agonist, AL002, in slowing disease progression in individuals with early Alzheimer’s disease (AD)-- --Baseline characteristics data for the INVOKE-2 study confirm a representative study population that enables testing of the effects of a novel TREM2 agonist in early AD-- SOUTH SAN FRANCISCO, Calif., July 28, 2024 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno ...

Core Insights - Alector, Inc. is presenting its TREM2 and progranulin programs at the Alzheimer's Association International Conference® 2024, highlighting its focus on immuno-neurology for treating neurodegenerative diseases [1][2]. Group 1: Alector's Programs - The TREM2 Program (AL002) is being developed in collaboration with AbbVie, with poster presentations scheduled for July 28 and July 29, 2024, focusing on early Alzheimer's disease [1]. - The Progranulin Programs (latozinemab (AL001) and AL101/GSK4527226) are being developed in collaboration with GSK, with multiple poster presentations on July 28 and July 29, 2024, addressing various aspects of Alzheimer's disease [1]. Group 2: Conference Details - The Alzheimer's Association International Conference® 2024 will be held online and in Philadelphia from July 28 to August 1, 2024, with on-demand viewing of poster presentations starting on July 28 at 8:00 a.m. ET [1].

Group 1 - Alector, Inc. is a clinical-stage biotechnology company focused on immuno-neurology, which addresses immune dysfunction as a cause of neurodegenerative diseases [2] - The company will participate in the H.C. Wainwright 5th Annual Neuro Perspectives Conference on June 27, 2024, with a webcast available for investors [1] - Alector's product candidates aim to treat conditions such as Alzheimer's disease and genetically defined frontotemporal dementia, supported by biomarkers [2] Group 2 - Alector is headquartered in South San Francisco, California, and is pioneering a novel therapeutic approach for neurodegenerative diseases [2] - The company has developed a broad portfolio of innate immune system programs to repair genetic mutations affecting the brain's immune system [2]

SOUTH SAN FRANSISCO, Calif., June 10, 2024 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, today announced management will host a virtual event to discuss Alector Brain Carrier, a proprietary, versatile blood-brain barrier (BBB) technology platform that is being applied selectively to the Company’s next-generation product candidates and research pipeline. The event will include a presentation from Alector’s management team as well as a le ...

Core Insights - Alector, Inc. is a clinical-stage biotechnology company focused on immuno-neurology, targeting immune dysfunction as a root cause of neurodegenerative diseases [1][2] - The company is hosting a virtual event to discuss its proprietary blood-brain barrier (BBB) technology platform, Alector Brain Carrier, and its application in next-generation product candidates [1] - The event will feature insights from Alector's management and a leading scientific expert, Dr. Zhiqiang An, on emerging technologies for BBB modulation [1] Company Overview - Alector is headquartered in South San Francisco, California, and is developing a broad portfolio of innate immune system programs aimed at treating neurodegenerative diseases such as Alzheimer's and genetically defined frontotemporal dementia [2] - The company's approach involves repairing genetic mutations that cause dysfunction in the brain's immune system, enabling rejuvenated immune cells to address emerging biomarkers [2] Event Details - The virtual event titled "Crossing the Blood-Brain Barrier: Advancing the Next Generation of Alector Neurodegenerative Therapies" is scheduled for June 18, 2024, from 3:00 pm to 4:30 pm EDT [1] - A live question and answer session will follow the formal presentation, and an archived replay will be available for approximately 90 days post-event [1]

Core Insights - Alector reported a quarterly loss of $0.38 per share, better than the Zacks Consensus Estimate of a loss of $0.48, and an improvement from a loss of $0.55 per share a year ago, indicating a 20.83% earnings surprise [1] - The company generated revenues of $15.89 million for the quarter, exceeding the Zacks Consensus Estimate by 8.67%, although this represents a decline from $16.55 million in the same quarter last year [1] - Alector has consistently surpassed consensus EPS and revenue estimates over the last four quarters [1] Company Performance - Alector's shares have declined approximately 33.6% year-to-date, contrasting with the S&P 500's gain of 8.8% [2] - The company's earnings outlook is crucial for future stock performance, with current consensus EPS estimates at -$0.48 for the next quarter and -$1.89 for the current fiscal year [4] Industry Context - Alector operates within the Medical - Biomedical and Genetics industry, which is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable industry outlook [4] - The industry’s performance can significantly influence Alector's stock performance, with research indicating that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [4] Future Expectations - The estimate revisions trend for Alector is currently favorable, contributing to a Zacks Rank 2 (Buy), indicating expectations for the stock to outperform the market in the near future [3] - Investors are advised to monitor changes in earnings estimates for Alector and its industry peers, such as Equillium, Inc., which is expected to report results soon [4][5]

[PART I. FINANCIAL INFORMATION](index=6&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) The company reported an improved net loss in Q1 2024, with strong cash reserves bolstered by a public offering and collaboration revenues [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet reflects increased assets and stockholders' equity, driven by a public offering, while liabilities decreased due to reduced deferred revenue - In January 2024, the company completed a public offering, issuing 10,869,566 shares of common stock which resulted in net proceeds of **$71.1 million**, significantly bolstering **stockholders' equity**[25](index=25&type=chunk) Balance Sheet Summary (in thousands) | Balance Sheet Items | March 31, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--- | :--- | :--- | | Cash, cash equivalents, and marketable securities | $562,083 | $548,861 | | Total Assets | $635,494 | $621,827 | | Total Liabilities | $456,587 | $487,669 | | Total Stockholders' Equity | $178,907 | $134,158 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported a reduced net loss in Q1 2024, primarily driven by a decrease in operating expenses, particularly research and development Statement of Operations Summary (in thousands, except per share data) | Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | Collaboration Revenue | $15,893 | $16,549 | | Research and Development | $45,167 | $51,887 | | General and Administrative | $14,434 | $14,777 | | Loss from Operations | ($43,708) | ($50,115) | | Net Loss | ($36,079) | ($45,857) | | Net Loss Per Share | ($0.38) | ($0.55) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased in Q1 2024, offset by significant cash provided from financing activities, primarily a public stock offering - The **$71.1 million** in cash from financing activities was due to proceeds from the issuance of common stock in a public offering, net of issuance costs[22](index=22&type=chunk)[78](index=78&type=chunk) Cash Flow Summary (in thousands) | Activity | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | ($61,346) | ($48,548) | | Net cash (used in) provided by investing activities | ($11,765) | $88,701 | | Net cash provided by financing activities | $71,108 | $1,079 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail collaboration agreements with GSK and AbbVie as primary revenue sources, alongside stock-based compensation expenses for the quarter - Under the GSK Agreement, collaboration revenue was **$8.7 million** in Q1 2024, with a deferred revenue balance of **$238.7 million** as of March 31, 2024[43](index=43&type=chunk) - Under the AbbVie Agreement, collaboration revenue was **$7.2 million** in Q1 2024, with a deferred revenue balance of **$39.3 million** expected to be recognized through clinical trial completion for the AL002 program[44](index=44&type=chunk) Stock-Based Compensation (in thousands) | Expense Category | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | Research and development | $5,395 | $5,655 | | General and administrative | $4,912 | $5,320 | | **Total** | **$10,307** | **$10,975** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's immuno-neurology focus, reduced net loss in Q1 2024 due to lower R&D, and sufficient cash to fund operations through 2026 [Overview](index=18&type=section&id=Overview) Alector, a clinical-stage biotech, focuses on immuno-neurology with lead candidates latozinemab, AL002, and AL101, and received FDA Breakthrough Therapy Designation for latozinemab - The company is focusing development resources on **latozinemab** for FTD and on **AL002** and **AL101** for Alzheimer's disease, in collaboration with **GSK** and **AbbVie**[52](index=52&type=chunk) - In February 2024, the FDA granted **Breakthrough Therapy Designation** to **latozinemab** for the treatment of **FTD-GRN**[52](index=52&type=chunk) - Data from the **INVOKE-2 Phase 2 clinical trial** for **AL002** in Alzheimer's disease is expected in the **fourth quarter of 2024**[53](index=53&type=chunk) [Results of Operations](index=22&type=section&id=Results%20of%20Operations) Q1 2024 saw a slight decrease in collaboration revenue but a significant reduction in operating expenses, primarily R&D, leading to an improved loss from operations - The **$6.7 million decrease** in **R&D expenses** was primarily due to the company's **prioritization of selected late-stage programs** and a **decrease in personnel-related costs**[65](index=65&type=chunk) Comparison of Operations (in thousands) | Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | Change (in thousands) | | :--- | :--- | :--- | :--- | | Collaboration Revenue | $15,893 | $16,549 | ($656) | | R&D Expenses | $45,167 | $51,887 | ($6,720) | | G&A Expenses | $14,434 | $14,777 | ($343) | | Loss from Operations | ($43,708) | ($50,115) | $6,407 | | Net Loss | ($36,079) | ($45,857) | $9,778 | R&D Expense Breakdown (in thousands) | Program | Q1 2024 (in thousands) | Q1 2023 (in thousands) | Change (in thousands) | | :--- | :--- | :--- | :--- | | Latozinemab | $2,095 | $4,311 | ($2,216) | | AL101 | $938 | $1,772 | ($834) | | AL002 | $13,262 | $11,064 | $2,198 | | Other programs | $3,970 | $6,974 | ($3,004) | | Personnel related | $18,897 | $21,934 | ($3,037) | [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) Alector held **$562.1 million** in cash as of March 31, 2024, projected to fund operations through 2026, though substantial additional funding will be required for future R&D - As of March 31, 2024, the company had **$562.1 million** in cash, cash equivalents, and marketable securities[70](index=70&type=chunk) - The company anticipates its existing cash will fund operations and capital expenditure requirements **through 2026**[71](index=71&type=chunk) - Cash used in operating activities was **$61.3 million** in Q1 2024, primarily due to the net loss of **$36.1 million** and changes in working capital, including a **$15.9 million decrease** in deferred revenue[75](index=75&type=chunk) [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 risks are interest rate and foreign currency fluctuations, with a **100 basis point** interest rate change impacting investments by **$2.9 million** - The company's primary market risks are **interest rate sensitivities** and **foreign currency risk**[81](index=81&type=chunk)[84](index=84&type=chunk) - As of March 31, 2024, an immediate **100 basis point** increase or decrease in interest rates would cause a change in the fair value of the company's investments of approximately **$2.9 million**[83](index=83&type=chunk) [Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2024, with no material changes in internal control over financial reporting - Management concluded that as of March 31, 2024, the company's disclosure controls and procedures were **effective**[85](index=85&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter ended March 31, 2024, that have **materially affected**, or are reasonably likely to materially affect, internal controls[86](index=86&type=chunk) [PART II. OTHER INFORMATION](index=29&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings expected to have a material adverse effect on its business - Alector is **not currently involved** in any litigation or legal proceedings expected to have a **material adverse effect** on the business[87](index=87&type=chunk) [Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including a history of net losses, high drug development uncertainty, reliance on collaborators, and the need for substantial additional financing - The company has a history of **significant net losses** (**$746.2 million accumulated deficit** as of March 31, 2024) and expects to continue incurring losses for the foreseeable future[88](index=88&type=chunk)[91](index=91&type=chunk) - The business is **heavily dependent** on the **successful development** of its clinical-stage product candidates (latozinemab, AL002, AL101), which is an **inherently risky and uncertain process**[88](index=88&type=chunk)[100](index=100&type=chunk) - The company will need **substantial additional financing** to complete development and commercialization, and failure to obtain capital could force **delays or termination of programs**[88](index=88&type=chunk)[97](index=97&type=chunk) - Clinical trials may reveal **significant adverse events**; for example, treatment-emergent MRI findings resembling **Amyloid-Related Imaging Abnormalities (ARIA)** have been observed in the INVOKE-2 Phase 2 trial of AL002, which could **delay or prevent regulatory approval**[89](index=89&type=chunk)[110](index=110&type=chunk)[130](index=130&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=83&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or use of proceeds were reported during the period - None reported[219](index=219&type=chunk) [Other Information](index=83&type=section&id=Item%205.%20Other%20Information) No other material information was reported, including no changes to Rule 10b5-1 trading arrangements by directors or officers - **No director or officer** adopted or terminated a **Rule 10b5-1 or non-Rule 10b5-1 trading arrangement** during the last fiscal quarter[219](index=219&type=chunk) [Exhibits](index=83&type=section&id=Item%206.%20Exhibits) The filing includes key exhibits such as an amended collaboration agreement with Glaxo Wellcome UK Ltd., and the Outside Director Compensation Policy - A **letter agreement amending the 2021 Collaboration and License Agreement** with **Glaxo Wellcome UK Ltd.** was filed as an exhibit[220](index=220&type=chunk) - The company's **Outside Director Compensation Policy** was filed as an exhibit[220](index=220&type=chunk)

Exhibit 99.1 Alector Reports First Quarter 2024 Financial Results and Provides Business Update Data from INVOKE-2, evaluating the most advanced TREM2 candidate in clinical development for early Alzheimer’s disease, on track for Q4 2024 Strengthened leadership team with key appointments: Neil Berkley, M.S., M.B.A., named Chief Business Officer; Errol De Souza, Ph.D., and Mark Altmeyer, M.B.A., join Board of Directors $562.1 million in cash, cash equivalents and investments provide runway through 2026 South S ...