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Alector, Inc. (Nasdaq: ALEC) is a clinical-stage biotechnology company headquartered in South San Francisco, California, pioneering a novel therapeutic approach known as immuno-neurology. The company leverages the body’s innate immune system to develop treatments for neurodegenerative diseases, including Alzheimer’s disease and frontotemporal dementia (FTD). Alector’s groundbreaking research focuses on counteracting brain pathologies by restoring healthy immune function.
The company’s pipeline includes several promising product candidates like AL001 (latozinemab), AL002, AL003, and AL101. Among these, latozinemab and AL101 are being co-developed in collaboration with global biopharmaceutical giant GSK. Latozinemab, a progranulin-elevating monoclonal antibody, is currently in the pivotal Phase 3 INFRONT-3 trial for FTD-GRN and has received FDA Breakthrough Therapy and Fast Track designations.
AL002, in collaboration with AbbVie, is a TREM2-activating antibody undergoing a Phase 2 INVOKE-2 trial to assess its efficacy in early Alzheimer's disease. The company recently completed enrollment for INVOKE-2, with a data readout expected in the fourth quarter of 2024. AL101, another progranulin-elevating candidate, has initiated the PROGRESS-AD Phase 2 trial to treat early Alzheimer's disease.
Alector’s innovative Alector Brain Carrier (ABC) technology aims to enhance drug delivery across the blood-brain barrier, further strengthening their therapeutic pipeline. The company’s financial health is robust, with $620.0 million in cash, cash equivalents, and investments as of January 2024. This financial buffer is anticipated to fund operations through 2026, ensuring continued progress in their clinical programs.
For ongoing updates and detailed information, visit their official website at www.alector.com.
Alector announced disappointing results from its INVOKE-2 Phase 2 trial of AL002 for early Alzheimer's disease. The drug failed to meet its primary endpoint of slowing disease progression and showed no significant effects on secondary endpoints or biomarkers. While AL002 achieved target engagement, it did not demonstrate treatment benefits and showed ARIA-related safety concerns. Following these results, Alector is discontinuing the long-term extension study and reducing its workforce by 17%. The company will focus on other programs, including the INFRONT-3 Phase 3 trial of latozinemab and PROGRESS-AD Phase 2 trial of AL101/GSK4527226. With $457.2 million in cash reserves, Alector expects runway through 2026.
Alector has secured a flexible credit facility of up to $50 million from Hercules Capital. The company drew an initial $10 million at closing, with $15 million available through June 2026 and an additional $25 million subject to lender approval. The facility carries a low double-digit cost of capital. Alector reported $457.2 million in cash and investments as of September 30, 2024, which, excluding the credit facility, is expected to fund operations through 2026. The company anticipates key data from both the AL002 INVOKE-2 Phase 2 trial and latozinemab INFRONT-3 pivotal Phase 3 trial within this runway.
Alector reported Q3 2024 financial results with collaboration revenue of $15.3 million and a net loss of $42.2 million. The company maintains a strong cash position of $457.2 million, providing runway through 2026. Key clinical updates include: the INVOKE-2 Phase 2 trial data for AL002 in early Alzheimer's disease expected in 2024, with 98% participant retention in long-term extension; INFRONT-3 Phase 3 trial for latozinemab in FTD-GRN progressing with enrollment completed; and PROGRESS-AD Phase 2 trial for AL101 reaching over one-third of target enrollment. The company reaffirmed 2024 guidance with expected collaboration revenue of $60-70 million.
Alector (Nasdaq: ALEC) presented baseline characteristics for its pivotal INFRONT-3 Phase 3 clinical trial at the 14th International Conference on Frontotemporal Dementias. The trial evaluates latozinemab, a novel monoclonal antibody, for treating frontotemporal dementia with progranulin gene mutation (FTD-GRN). Key points:
- 119 participants enrolled (103 symptomatic, 16 at-risk carriers)
- Mean age: 62.1 years
- 51.3% female, 84.9% Caucasian
- Symptomatic cohort mean CDR plus NACC FTLD-SB score: 6.9
- Mean serum neurofilament light chain: 73.0 pg/mL
The baseline characteristics suggest a representative study population, enabling effective testing of latozinemab in FTD-GRN. The trial, completed enrollment in October 2023, is ongoing with a 96-week treatment duration.
Alector (Nasdaq: ALEC), a clinical-stage biotechnology company focused on immuno-neurology, has announced its participation in three upcoming healthcare conferences in September 2024. The company will be present at:
- Morgan Stanley 22nd Annual Global Healthcare Conference on September 5
- H.C. Wainwright 26th Annual Global Investment Conference on September 9
- 2024 Cantor Global Healthcare Conference on September 17
All events will take place in New York City, featuring fireside chats with Alector's management. Webcasts of these presentations will be available on Alector's investor relations website, with replays accessible for 90 days after each event.
Alector (NASDAQ: ALEC) reported Q2 2024 financial results and provided a business update. Key highlights include:
- Data from INVOKE-2 Phase 2 trial of AL002 in early Alzheimer's disease expected in Q4 2024
- Latozinemab INFRONT-3 Phase 3 trial progressing well after FDA Breakthrough Therapy Designation
- $503.3 million in cash, providing runway through 2026
- Q2 revenue of $15.1 million, down from $56.2 million in Q2 2023
- Net loss of $38.7 million ($0.40 per share) compared to net income of $1.4 million in Q2 2023
- 2024 revenue guidance of $60-70 million maintained
- R&D expenses expected to be $210-220 million
The company remains focused on its immuno-neurology programs and proprietary Alector Brain Carrier technology platform.
Alector (Nasdaq: ALEC), a clinical-stage biotechnology company focused on immuno-neurology, has announced a conference call and webcast scheduled for Wednesday, August 7, 2024, at 4:30 p.m. ET/1:30 p.m. PT. The event will discuss second quarter 2024 results and provide a mid-year business update. A press release detailing Q2 results will be issued before the call. The webcast will be available on Alector's investor relations website, with a 30-day replay option. Phone participants must register online to receive dial-in details and a personal PIN for access.
Alector presented baseline characteristics for the INVOKE-2 Phase 2 clinical trial of AL002, a TREM2 agonist, at AAIC® 2024. The trial, involving 381 participants with early Alzheimer's disease (AD), is the first global Phase 2 study evaluating a TREM2 agonist's safety and efficacy in slowing AD progression. Key points:
- Median age: 71 years (range: 51-85)
- 78% of participants ≥65 years old
- 50% female, 94% Caucasian
- 67% with mild cognitive impairment, 33% with mild dementia
- 59% heterozygous APOE e4 carriers
- All participants confirmed amyloid-positive
Results are expected in Q4 2024, with a long-term extension study ongoing. The baseline data confirm a representative study population for testing AL002's effects in early AD.
Alector Inc (Nasdaq: ALEC) announced presentations on its TREM2 and progranulin programs at the upcoming Alzheimer's Association International Conference® 2024 (AAIC®). The event will be held online and in Philadelphia from July 28 to August 1, 2024.
Key presentations include:
- Two posters on the AL002 TREM2 program, developed with AbbVie, focusing on the INVOKE-2 phase 2 study in early Alzheimer's disease.
- Three posters on progranulin programs (latozinemab and AL101/GSK4527226), developed with GSK, covering plasma biomarkers, the PROGRESS-AD phase 2 study, and genetics related to Alzheimer's disease.
These presentations highlight Alector's ongoing efforts in immuno-neurology and Alzheimer's disease research.
Alector (Nasdaq: ALEC), a clinical-stage biotechnology company specializing in immuno-neurology, will present at the H.C. Wainwright 5th Annual Neuro Perspectives Virtual Conference on June 27, 2024. The event will be held virtually, and Alector's management will participate in a corporate presentation. Interested parties can access the webcast on the 'Events & Presentations' page of the Alector website starting at 7:00 a.m. ET. A replay of the presentation will be available on the website for 90 days post-event.
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