Core Viewpoint - Alector's shares have dropped 62.5% in the past month due to the failure of its late-stage study for latozinemab in treating frontotemporal dementia caused by a progranulin gene mutation [1] Group 1: Study Results - The phase III INFRONT-3 study of latozinemab did not meet its primary endpoint of slowing disease progression in symptomatic and at-risk FTD-GRN patients, as measured by the CDR plus NACC FTLD-SB scale [2] - Despite missing clinical endpoints, the therapy showed a statistically significant effect on the biomarker endpoint of plasma progranulin concentrations [2] - No treatment-related improvements were observed in secondary and exploratory endpoints, including fluid biomarkers and volumetric magnetic resonance imaging [3] Group 2: Company Actions - Following the disappointing study results, Alector has decided to discontinue the open-label extension of the INFRONT-3 study and a continuation study for latozinemab [8] - The company is reducing its workforce by approximately 49% to focus resources on priority programs and maintain progress across its core pipeline [8] Group 3: Pipeline Focus - Alector is shifting its focus to its remaining clinical candidate, nivisnebart, which is being evaluated in a phase II PROGRESS-AD study for early-stage Alzheimer's disease [9] - Nivisnebart is a human monoclonal antibody designed to elevate PGRN concentrations in the brain, differing from latozinemab in pharmacokinetic and pharmacodynamic characteristics [10] - The PROGRESS-AD study is expected to complete enrollment and finish by 2026, with an independent interim analysis scheduled for the first half of 2026 [10] Group 4: Collaboration and Financials - Alector and GSK entered a global collaboration agreement in 2021 to develop progranulin-elevating monoclonal antibodies, with profits and losses split evenly in the U.S. and Alector eligible for royalties outside the U.S. [12]