Alector(US:ALEC)2025-08-07 20:11Financial Performance - Alector reported a net loss of $30.5 million, or $0.30 per share, for Q2 2025, compared to a net loss of $38.7 million, or $0.40 per share, for the same period in 2024[15]. - The net loss for the three months ended June 30, 2025, was $30.524 million, compared to a net loss of $38.676 million for the same period in 2024, showing an improvement of 21.5%[22]. - Basic and diluted net loss per share for the three months ended June 30, 2025, was $0.30, compared to $0.40 for the same period in 2024, indicating a reduction of 25%[22]. - The total net loss for the six months ended June 30, 2025, was $74.755 million, compared to $70.955 million in 2024, reflecting an increase of 5.1%[22]. - The net loss before income tax for the six months ended June 30, 2025, was $70.995 million, compared to $74.675 million in 2024, showing a decrease of 4.5%[22]. Revenue - Collaboration revenue for Q2 2025 was $7.9 million, down from $15.1 million in Q2 2024, a decrease of $7.2 million[11]. - Collaboration revenue for the three months ended June 30, 2025, was $7.874 billion, compared to $15.083 billion for the same period in 2024, reflecting a decrease of 47.8%[22]. - Alector anticipates collaboration revenue for 2025 to be between $13 million and $18 million[16]. Research and Development Expenses - Total R&D expenses for Q2 2025 were $27.6 million, compared to $46.3 million in Q2 2024, reflecting a decrease of $18.7 million[12]. - Research and development expenses for the six months ended June 30, 2025, totaled $61.252 million, compared to $46.314 million in 2024, marking an increase of 32.3%[22]. - Total R&D expenses for 2025 are projected to be between $130 million and $140 million[16]. Assets and Equity - Cash, cash equivalents, and investments totaled $307.3 million as of June 30, 2025, providing a runway into the second half of 2027[15]. - Alector's total assets decreased from $468.3 million as of December 31, 2024, to $356.4 million as of June 30, 2025[20]. - Total stockholders' equity decreased from $126.8 million as of December 31, 2024, to $71.2 million as of June 30, 2025[20]. Operating Expenses - Total operating expenses for the six months ended June 30, 2025, were $90.381 million, up from $60.689 million in 2024, representing an increase of 48.9%[22]. - General and administrative expenses for the three months ended June 30, 2025, were $14.401 million, slightly up from $14.375 million in 2024, reflecting a marginal increase of 0.2%[22]. Clinical Trials - The pivotal INFRONT-3 Phase 3 trial of latozinemab is expected to report topline data by mid-Q4 2025, with potential BLA and MAA submissions planned for 2026[6]. - The ongoing Phase 2 PROGRESS-AD trial of AL101 in early Alzheimer's disease is expected to complete in 2026[2]. Other Income - Other income for the three months ended June 30, 2025, was $3.614 million, compared to $7.003 million in 2024, indicating a decline of 48.7%[22]. Shares - Total shares used in computing net loss per share for the three months ended June 30, 2025, were 100,371,632, compared to 96,674,921 in 2024, representing an increase of 3.6%[22].