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Jun 30, 2020
Alector Q2 2020 Earnings Report
Alector reported financial results for the second quarter ended June 30, 2020 and provided a corporate update.
Key Takeaways
Alector reported collaboration revenue of $3.2 million, research and development expenses of $34.1 million, general and administrative expenses of $15.7 million, and a net loss of $45.3 million for the second quarter ended June 30, 2020. The company's cash, cash equivalents, and marketable securities were $503.6 million as of June 30, 2020.
Pivotal Phase 3 trial of AL001 initiated for treatment of frontotemporal dementia due to a progranulin gene mutation (FTD-GRN).
Promising preliminary data from AL001 Phase 1b and Phase 2 open-label studies presented at Alzheimer’s Association International Conference
AL002, AL003 and AL014 programs for the treatment of Alzheimer’s disease and AL101 neurology program continue to progress
Strong cash and investments of $503.6 million to support execution of clinical, research and operational goals
Revenue by Segment
Forward Guidance
Alector believes that its cash and investments as of June 30, 2020, will be sufficient to fund its anticipated operations through 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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