Alector, Inc. SEC 10-Q Report

Alector, Inc., a biotechnology company focused on developing therapies for neurodegenerative diseases, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial performance and key business developments during the period.

Financial Highlights

• Collaboration Revenue: $3.7 million, a decrease of $12.2 million compared to the same period in 2024 due to the satisfaction of performance obligations associated with certain programs.
• Loss from Operations: $(44.7) million, an increase of $0.987 million compared to the same period in 2024, reflecting a decrease in operating expenses.
• Net Loss: $(40.5) million, an increase of $4.4 million compared to the same period in 2024, primarily due to lower collaboration revenue and other income.
• Net Loss Per Share, Basic and Diluted: $(0.41), compared to $(0.38) for the same period in 2024, reflecting the increased net loss.

Business Highlights

• Collaboration with GSK: Alector continues its collaboration with Glaxo Wellcome UK Limited, a subsidiary of GlaxoSmithKline plc, focusing on the global development and commercialization of progranulin-elevating monoclonal antibodies, including latozinemab and AL101. The collaboration involves shared development costs and potential milestone payments.
• Clinical Pipeline - Latozinemab: Latozinemab is being developed for frontotemporal dementia with a granulin gene mutation (FTD-GRN). It is currently in a pivotal Phase 3 clinical trial, INFRONT-3, with topline data expected in the fourth quarter of 2025. The drug has shown promising results in elevating PGRN levels and has received multiple designations from the FDA and EMA.
• Clinical Pipeline - AL101/GSK4527226: AL101 is being co-developed with GSK for early Alzheimer's disease and potentially other indications like Parkinson's disease. A Phase 2 clinical trial, PROGRESS-AD, is underway, with enrollment completed in April 2025.
• Preclinical and Research Pipeline: Alector is advancing its preclinical and research pipeline, leveraging its proprietary blood-brain barrier technology platform, Alector Brain Carrier (ABC), to develop therapeutic candidates for neurodegenerative diseases.
• Workforce Reduction: On March 7, 2025, Alector initiated a workforce reduction plan, impacting approximately 25 employees, to align resources with strategic priorities and advance its preclinical and research pipeline.
• Future Outlook: Alector anticipates that its existing cash, cash equivalents, and marketable securities will fund operations into the second half of 2027. The company plans to continue advancing its product candidates and discovery programs, with a focus on developing therapies for neurodegenerative diseases.

SEC Filing: Alector, Inc. [ ALEC ] - 10-Q - May. 08, 2025