Alector — Third Quarter 2026 Earnings Summary

Alector reported a net income of $124.6 million for the third quarter of 2026, driven by $162.9 million in collaboration revenue recognized following the termination of its agreement with GlaxoSmithKline. The company entered an exclusive global license agreement with Genentech for its AL050 program, receiving a $100 million upfront payment and becoming eligible for up to $1.17 billion in milestone payments. Alector also completed an underwritten offering of common stock in October 2026, generating approximately $75 million in gross proceeds. As of September 30, 2026, the company held $138.7 million in cash, cash equivalents, and investments, with management projecting that combined funds will support operations through the second half of 2029. Pipeline updates include the submission of an ethics registration in Australia for the lead Alzheimer's candidate AL137, targeting first-in-human dosing by April 2027, while AL164 and AL062 are on track for first-in-human studies in the second quarter of 2028.