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Mar 31, 2024
Alector Q1 2024 Earnings Report
Alector reported first quarter 2024 financial results and provided business update.
Key Takeaways
Alector reported a net loss of $36.1 million, or $0.38 per share, for the quarter ended March 31, 2024. As of March 31, 2024, Alector’s cash, cash equivalents and investments totaled $562.1 million, providing runway through 2026.
Data from INVOKE-2, evaluating the most advanced TREM2 candidate in clinical development for early Alzheimer’s disease, is on track for Q4 2024.
Leadership team strengthened with key appointments: Neil Berkley, M.S., M.B.A., named Chief Business Officer; Errol De Souza, Ph.D., and Mark Altmeyer, M.B.A., join Board of Directors.
Cash, cash equivalents and investments totaled $562.1 million, providing runway through 2026.
Enrollment is ongoing in the PROGRESS-AD global Phase 2 clinical trial of AL101/GSK4527226 in early Alzheimer’s disease (AD), with dosing initiated in February 2024.
Revenue by Segment
Forward Guidance
Management is reiterating its guidance for the year ending 2024. The company continues to anticipate collaboration revenue to be between $60 million and $70 million, total research and development expenses to be between $210 million and $230 million, and total general and administrative expenses to be between $60 million and $70 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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