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Jun 30, 2022
Alector Q2 2022 Earnings Report
Alector reported second quarter 2022 financial results and provided a business update.
Key Takeaways
Alector reported a net income of $9.9 million for the quarter ended June 30, 2022, compared to a net loss of $55.1 million for the same period in 2021. The company's cash, cash equivalents, and investments totaled $808.9 million as of June 30, 2022, which is expected to fund operations into H2 2024.
Submitted Investigational New Drug Application for AL044, a novel drug candidate targeting an Alzheimer’s disease risk gene.
Expanding clinical sites to drive additional enrollment in the INFRONT-3 pivotal study for latozinemab (AL001).
Enrollment continues in the INVOKE-2 Phase 2 study for AL002.
Peter Heutink, Ph.D., to join company as Chief Scientific Officer and John Maraganore appointed as strategic advisor.
Revenue by Segment
Forward Guidance
Management anticipates that cash, cash equivalents, and investments will be sufficient to fund current operations into the second half of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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