GlobeNewswire·Nov 5, 2026, 4:05 PM ET

Alector Reports Third Quarter 2026 Financial Results and Provides Business Update

Alector advanced its Alector Brain Carrier (ABC) platform pipeline spanning antibody, enzyme, & siRNA programs.
Lead program AL137 (anti-amyloid beta antibody for Alzheimer's) targets first-in-human dosing in Australia no later than April 2027.
AL164 (Tau siRNA for Alzheimer's & tauopathies) & AL062 (alpha-synuclein siRNA for Parkinson's & Lewy body dementia) target first-in-human studies in Q2 2028.
Alector entered an exclusive global license agreement with Genentech for AL050 (GCase enzyme replacement therapy), securing a $100 million upfront payment & up to $1.17 billion in milestone payments plus royalties.
Alector completed an underwritten offering of 36.6 million shares at $2.05 per share, generating approximately $75 million in gross proceeds.
Cash, cash equivalents, & investments totaled $138.7 million as of September 30, 2026.
Combined with the Genentech upfront payment & offering proceeds, Alector expects to fund operations into the second half of 2029.
Collaboration revenue for the quarter ended September 30, 2026, was $162.9 million, primarily driven by the recognition of deferred revenue from a terminated GSK agreement.
Research & development expenses were $30.0 million for the quarter, while general & administrative expenses decreased to $9.0 million.
Alector reported net income of $124.6 million ($1.11 per share) for the quarter, compared to a net loss of $34.7 million in the same period of 2025.