Neurology-Focused Alector Downgraded On Failed Alzheimer's Study, BofA Securities Highlights Lack Of Catalysts

Bank of America Securities has downgraded Alector, Inc. ALEC, citing the failure of its AL002 program. Alector recently released results from the INVOKE-2 Phase 2 trial evaluating the safety and efficacy of AL002 in slowing disease progression in individuals with early Alzheimer’s disease (AD).But AL002 failed to meet the primary endpoint of slowing Alzheimer’s clinical progression as measured by the Clinical Dementia Rating Sum of Boxes (CDR-SB).The analyst writes, “We see this as likely the end for the AL ...