Alector shares plunge after dementia drug fails to slow disease progression

Core Insights - Alector's experimental drug did not succeed in slowing the progression of a rare form of dementia during a late-stage trial, leading to the termination of the study [1] - The company announced a significant workforce reduction, cutting nearly 50% of its employees as a result of the failed trial [1] Company Summary - Alector's late-stage trial aimed at treating a rare form of dementia has been unsuccessful, prompting the company to cease the study [1] - The decision to end the trial has resulted in a drastic workforce reduction, with nearly half of the company's staff being laid off [1]