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Dec 31, 2023
Alector Q4 2023 Earnings Report
Alector reported Q4 and full year 2023 financial results and provided a business update.
Key Takeaways
Alector reported a net loss of $41.4 million for the quarter ended December 31, 2023, with collaboration revenue of $15.2 million. The company's cash, cash equivalents, and investments totaled $548.9 million as of December 31, 2023, which is anticipated to provide runway through 2026 after a January 2024 equity offering.
Target enrollment achieved in pivotal INFRONT-3 latozinemab Phase 3 trial in FTD-GRN during Q4 2023.
Data from INVOKE-2, evaluating the most advanced TREM2 candidate in clinical development for early Alzheimer’s disease (AD), expected in Q4 2024.
Latozinemab granted FDA’s Breakthrough Therapy Designation for frontotemporal dementia due to a mutation in the progranulin gene (FTD-GRN).
First participant in the global PROGRESS-AD Phase 2 clinical trial of AL101 in early AD dosed in Q1 2024.
Revenue by Segment
Forward Guidance
Management anticipates, for the year ending 2024, 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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