Business
Alector Reports 2019 Fourth Quarter and Full Year Financial Results and Business Highlights
Continued execution across immuno-neurology platform, with multiple clinical, regulatory and operational milestones achieved in 2019 On track to initiate
About this update from Alector, Inc.
[{"type":"text","content":"Continued execution across immuno-neurology platform, with multiple clinical, regulatory and operational milestones achieved in 2019 On track to initiate pivotal Phase 3 trial in patients with frontotemporal dementia with a progranulin mutation (FTD-GRN) in 2020 Strengthened balance sheet with $240 million in gross proceeds from recent public offering Provides business continuity update regarding COVID-19 SOUTH SAN FRANCISCO, Calif., March 24, 2020 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, today announced company highlights and financial results for the fourth quarter and year ended December 31, 2019.\n “At Alector, we envision a world where dementia and neurodegeneration are illnesses of the past, and even amidst the uncertainties we face today in light of the COVID-19 pandemic, we remain committed to this vision. As of today, four of our novel immuno-neurology programs are advancing in the clinic, we have received two Fast Track designations from the FDA, generated sufficient data to support the launch of a pivotal Phase 3 trial in with AL001 in FTD-GRN patients, and expanded our Alzheimer’s disease portfolio from two to three prioritized development product candidates,” said Arnon Rosenthal, Ph.D., Co-founder, and Chief Executive Officer of Alector. “We look forward to progressing our clinical and research programs forward in 2020, and with our strong cash position and experienced team, we believe we are well-positioned to execute on our milestones throughout the year.” Recent Business Highlights Progranulin Portfolio: AL001, AL101 In December 2019, the U.S. Food and Drug Administration (FDA) granted Fast Track Designation for AL001 for the treatment of FTD-GRN patients. In December 2019, Alector reported Phase 1b results of AL001 in symptomatic FTD-GRN patients. In the trial, AL001 met all primary and secondary endpoints. Treatments with AL001 also showed a statistically significant normalization in a number of disease-associated proteins and an initial trend of decreasing levels of plasma Neurofilament (NfL) in patients compared to baseline. Alector initiated an open-label Phase 2 trial investigating the use of AL001 in patients with FTD-GRN and FTD-C9orf72 in September 2019. The company plans to present data from the ongoing Phase 2 study of AL001 ...