Alector(US:ALEC)2025-11-06 21:12Clinical Trial Results - The Company announced results from its Phase 3 INFRONT-3 clinical trial, which included a preliminary estimate of cash, cash equivalents, and short-term investments as of September 30, 2025[6]. - The Company is discontinuing the open-label extension portion of the INFRONT-3 trial and the continuation study for latozinemab[8]. - The Company issued a press release on October 21, 2025, detailing the results of the Phase 3 INFRONT-3 clinical trial and the workforce reduction plan[12]. Workforce Reduction - The Company plans to reduce its workforce by approximately 49%, impacting about 75 employees, to align resources with strategic priorities[8]. - Total incremental restructuring charges associated with the reduction in force are expected to be approximately $7.7 million[9]. - The reduction in force is expected to be completed during the first half of 2026[9]. - The Company may incur additional costs related to the workforce reduction that are not currently contemplated[9]. - Forward-looking statements regarding the Company's business strategy and expected impacts of the workforce reduction are subject to risks and uncertainties[14]. Executive Changes - Dr. Sara Kenkare-Mitra, President and Head of Research and Development, will resign effective December 22, 2025[10]. - Dr. Kenkare-Mitra will receive a lump-sum cash payment equal to nine months of her annual base salary and 50% of her annual bonus target[11].