Alector Reports Second Quarter 2025 Financial Results and Provides Business Update

Core Insights - Alector is on track to report topline data from the INFRONT-3 Phase 3 clinical trial of latozinemab for FTD-GRN by mid-Q4 2025, which is a significant milestone for both the company and the frontotemporal dementia (FTD) community [1][2][3] - The ongoing Phase 2 PROGRESS-AD trial of AL101 in early Alzheimer's disease is expected to complete in 2026, indicating Alector's commitment to advancing treatments for neurodegenerative diseases [1][2] - Alector has a strong cash position of $307.3 million as of June 30, 2025, which is projected to fund operations into the second half of 2027 [1][11] Clinical Development - Latozinemab is being developed in collaboration with GSK and aims to restore progranulin levels in the brain, addressing a genetic cause of FTD [2][3][6] - The INFRONT-3 trial is a 96-week, randomized, double-blind, placebo-controlled study, with potential BLA and MAA submissions planned for 2026, depending on trial outcomes [3][6] - AL101, another investigational therapy, is designed similarly to latozinemab and is currently in a Phase 2 trial for early Alzheimer's disease, with enrollment completed in April 2025 [6][8] Financial Performance - Collaboration revenue for Q2 2025 was $7.9 million, a decrease from $15.1 million in Q2 2024, primarily due to the completion of performance obligations related to previous programs [8] - Total R&D expenses for Q2 2025 were $27.6 million, down from $46.3 million in the same quarter of 2024, reflecting reduced spending on certain programs [9] - Alector reported a net loss of $30.5 million for Q2 2025, an improvement from a net loss of $38.7 million in Q2 2024, indicating a positive trend in financial management [10] Research and Development Pipeline - Alector is advancing its preclinical and research pipeline, including brain-penetrant candidates enabled by its proprietary Alector Brain Carrier platform, which aims to enhance therapeutic delivery across the blood-brain barrier [5][6] - The company is progressing several candidates, including an anti-amyloid beta antibody and anti-tau siRNA for Alzheimer's disease, as well as an engineered GCase enzyme replacement therapy for Parkinson's disease [5][6] - The statistical analysis plan for the INFRONT-3 trial has been amended to include plasma progranulin as a co-primary endpoint, highlighting the focus on relevant biomarkers in clinical trials [6]