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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, Inc. (NASDAQ: ALEC) reported business updates and financial results for Q4 2020, highlighting significant progress in its clinical programs. The company initiated the AL001 INFRONT-3 Phase 3 trial for frontotemporal dementia and AL002 INVOKE-2 Phase 2 trial for early Alzheimer's disease. Revenue for Q4 was $4.9 million, down from $6.0 million YoY, with a total 2020 revenue of $21.1 million, relatively stable. R&D expenses surged to $44.4 million for Q4, contributing to a net loss of $52.2 million. Alector's cash position remains strong at $413.3 million, sufficient to fund operations through mid-2022.
Alector (NASDAQ: ALEC) has initiated INVOKE-2, a Phase 2 clinical trial for AL002, targeting TREM2 to slow early Alzheimer’s disease progression. This humanized monoclonal antibody is being evaluated at 90 sites worldwide, enrolling approximately 265 participants. The study's primary endpoint is to measure disease progression using the Clinical Dementia Rating Sum Boxes. Alector's collaboration with AbbVie aims to address a disease affecting nearly six million Americans, focusing on enhancing microglial activity, critical for brain immune response.
Alector, Inc. (Nasdaq: ALEC) has announced the departure of chief business officer Sabah Oney, effective February 1, 2021. Dr. Oney, who joined the company in October 2016 when it was a small biotech firm, will assist during the transition until May 3, 2021. Shehnaaz Suliman, the company's president and COO, will take over as interim CBO. CEO Arnon Rosenthal expressed gratitude for Dr. Oney's contributions to Alector's growth and innovation in the field of immuno-neurology, targeting neurodegenerative diseases.
Alector (ALEC) reveals its clinical and research priorities for 2021, focusing on advancing its pipeline in neurodegenerative disorders. Key developments include the Phase 3 trial of AL001 for frontotemporal dementia and a Phase 2 trial for Alzheimer’s disease. Alector has a strong financial position with over $400 million in cash. Upcoming highlights include updated data from the AL001 Phase 2 study and the initiation of trials for AL101 and AL002 in 2021. The company also continues to monitor COVID-19 impacts on clinical operations and patient recruitment.
Alector, a clinical-stage biotechnology company focused on immuno-neurology, announced that Dr. Sabah Oney will speak at the Stifel 2020 Virtual Healthcare Conference on November 18, 2020, at 4:40 p.m. ET. The event will be accessible via a live webcast on Alector's investor website, with a replay available for 30 days post-event. Alector is developing innovative therapies targeting the immune system to address neurodegenerative diseases, including frontotemporal dementia and Alzheimer’s, emphasizing a novel approach to treating these conditions.
Alector, Inc. (NASDAQ: ALEC) announced its Q3 2020 financial results, reporting collaboration revenue of $5.9 million, a significant increase from $2.7 million in Q3 2019. The net loss was $52.7 million, up from $31.7 million in the prior year. The company is advancing its clinical pipeline, with a Phase 3 trial for AL001 targeting frontotemporal dementia and plans to initiate a Phase 2 trial for AL002 in Alzheimer's disease. Alector maintains a strong cash position of $461.7 million, expected to fund operations through 2022.
Alector, Inc. (Nasdaq: ALEC) announced an interim ruling from an independent arbitrator favoring the company in its arbitration proceedings with Dr. Asa Abeliovich. The arbitrator found Dr. Abeliovich liable for breach of his consulting agreement and document destruction, leading to potential damages and sanctions. The arbitration was initiated in June 2019 concerning the misuse of confidential information. Alector aims to resolve this matter efficiently, reaffirming Dr. Abeliovich's obligations towards the company.
Alector, Inc. (Nasdaq: ALEC), a biotechnology company specializing in immuno-neurology, announced its participation in two upcoming virtual scientific meetings to discuss its AL008 development program. AL008 is an investigational antibody targeting the CD47-SIRP-alpha pathway, designed to enhance anti-tumor immunity. Presentations will be made by key team members at the Macrophage-Directed Therapies Summit on October 28 and the CD47|SIRPα Summit on November 4-5, 2020. These events aim to showcase Alector's innovative approach and its commitment to developing effective cancer treatments.
Alector, a clinical-stage biotechnology company focused on immuno-neurology, will host fireside chats at two upcoming virtual investor conferences. The events will take place on September 10, 2020, at the Citi’s 15th Annual BioPharma Virtual Conference, and on September 14, 2020, at the Morgan Stanley 18th Annual Global Healthcare Conference. Live webcasts will be accessible on Alector's Investors page, with replays available for 30 days post-event. Alector aims to address neurodegenerative diseases through its innovative therapeutic approaches targeting immune dysfunction.
Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology firm specializing in immuno-neurology, announced that Chief Business Officer Sabah Oney, Ph.D., will speak at the BTIG Virtual Biotechnology Conference on August 11, 2020, at 11:00 a.m. ET. The event aims to discuss Alector's innovative approaches to treating neurodegenerative diseases by targeting immune dysfunction. A live webcast will be available on the company’s website, with a replay accessible for 30 days post-event.
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