Earnings Releases·Nov 5, 2026, 4:10 PM ET

Alector — Third Quarter 2026 Earnings Summary

Collaboration revenue surged to $162.9 million from $3.3 million year-over-year, driven by the recognition of deferred revenue following the GSK agreement termination, resulting in a net income of $124.6 million compared to a $34.7 million loss in 2025.
Management secured a $100 million upfront payment from the exclusive Genentech license for AL050 and raised $75.0 million via an October 2026 equity offering, extending cash runway into the second half of 2029 despite a balance sheet decline to $138.7 million.
Clinical progress includes AL137 IND submission targeting first-in-human dosing in Australia by April 2027, while AL164 and AL062 are positioned for first-in-human studies in Q2 2028.
Operational efficiency improved with general and administrative expenses falling to $9.0 million from $11.5 million due to a reduction in force, while research and development expenses rose slightly to $30.0 million.