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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 (Nasdaq: ALEC) has promoted Clare Hunt to Chief People Officer, enhancing its commitment to employee culture and development. Since 2017, Hunt has contributed to a workforce growth of 44%, now exceeding 270 employees, with notable representation of women in leadership (50%) and R&D (64%). Alector has received the Great Place to Work® certification for three consecutive years and was listed in Fortune's “Best Workplaces in Biopharma” for the second year. This promotion reflects Alector's strategy to align talent acquisition with its growth objectives.
Alector, Inc. (Nasdaq: ALEC), a biotechnology company focused on immuno-neurology, has granted stock options and restricted stock units (RSUs) to six new employees. The awards include options for 103,462 shares at an exercise price of $9.46, matching the closing price on September 30, 2022. These options have a ten-year term and will vest over four years, while RSUs will vest over three years. This compensation is part of the 2022 Inducement Equity Incentive Plan and aims to attract talent critical to Alector’s innovative work in treating neurodegenerative diseases.
Alector, Inc. (Nasdaq: ALEC) has initiated a Phase 1 clinical trial for AL044, its first-in-class drug candidate targeting the MS4A gene, a significant genetic risk factor for Alzheimer’s disease (AD). The trial will evaluate the safety, pharmacokinetics, and target engagement of AL044 in approximately 72 healthy participants. AL044 aims to modulate microglia to address multiple AD pathologies. Alector's approach represents a novel strategy to treat neurodegeneration, contrasting with existing therapies. The company is also advancing two additional drug candidates for AD.
Alector, a clinical-stage biotechnology company focused on immuno-neurology, announced its participation in two upcoming investor conferences in New York. The H.C. Wainwright 24th Annual Global Investment Conference is scheduled for September 12, 2022, featuring an on-demand corporate presentation at 7:00 a.m. ET. Subsequently, Alector will engage in a fireside chat at the Morgan Stanley 20th Annual Global Healthcare Conference later that day at 5:25 p.m. ET. Webcasts of these events will be accessible on Alector's website for 90 days.
Alector, Inc. (Nasdaq: ALEC) recently reported its Q2 2022 financial results, highlighting revenue growth and significant advancements in its clinical pipeline. The company achieved $79.9 million in collaboration revenue, a significant increase from $6.6 million in Q2 2021, primarily due to the AbbVie Agreement. Alector's cash position stands at $808.9 million, providing operational runway into H2-2024.
The company submitted an IND application for AL044, targeting Alzheimer’s disease, and continues to expand clinical sites for the pivotal INFRONT-3 study of latozinemab (AL001).
Alector, a clinical-stage biotechnology company, announced participation in a fireside chat at the Goldman Sachs 43rd Annual Global Healthcare Conference on June 15, 2022, at 2:00 p.m. PT. The live webcast will be accessible on Alector's Investors page, with a replay available for 90 days post-event. Alector is known for its innovative approach in immuno-neurology, targeting immune dysfunction to treat neurodegenerative diseases like Alzheimer’s and frontotemporal dementia.
Alector, Inc. (Nasdaq: ALEC) announced on May 27, 2022, that its board approved an inducement equity grant for Gary Romano, M.D., Ph.D., its new Chief Medical Officer. The grant includes inducement stock options for 369,000 shares and restricted stock units (RSUs) for 92,250 shares, aligned with the 2022 Inducement Equity Incentive Plan. The options have an exercise price of $9.20 per share and vest over four years, while the RSUs vest quarterly over three years, starting September 1, 2022. This move aims to attract talent amid growing operations in immuno-neurology.
Alector, Inc. (Nasdaq: ALEC) reported promising results from the INFRONT-2 Phase 2 clinical trial of AL001 (latozinemab), showing a 54% annual delay in disease progression for FTD-C9orf72 patients compared to controls. The drug increased progranulin levels significantly, supporting its role in treating neurodegenerative diseases. Alector's cash reserves stand at $868.6 million, ensuring operational funds through mid-2024. Leadership has been strengthened with new appointments, enhancing their clinical and financial strategies.
Alector, a clinical-stage biotechnology company focused on immuno-neurology, announced its participation in the BofA Securities 2022 Healthcare Conference. The event will occur on May 12, 2022, at 11:20 a.m. PT, and will feature a fireside chat with management. A live webcast can be accessed through the Alector website, with a replay available for 90 days post-event. Alector specializes in therapeutic approaches for neurodegenerative diseases, targeting immune dysfunction in conditions such as Alzheimer's and frontotemporal dementia.
Alector, a biotechnology company focused on immuno-neurology, has appointed Dr. Gary Romano as the new Chief Medical Officer, effective May 23, 2022. Dr. Romano, an expert in neurodegeneration with over 25 years of experience, will oversee clinical development and operations. His previous roles include leadership at Passage Bio and Janssen. The company expressed gratitude to interim CMO Dr. Sam Jackson for his contributions. Dr. Romano aims to advance Alector's pipeline targeting neurodegenerative diseases, enhancing its strategy in clinical research and drug development.
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