Business
Alector Reports 2020 First Quarter Financial Results and Business Highlights
Provides business continuity update regarding COVID-19Continued execution across immuno-neurology platformOn track to initiate pivotal Phase 3 trial of AL001
About this update from Alector, Inc.
[{"type":"text","content":"Provides business continuity update regarding COVID-19Continued execution across immuno-neurology platformOn track to initiate pivotal Phase 3 trial of AL001 in patients with frontotemporal dementia with a progranulin mutation (FTD-GRN) and a Phase 2 study of AL002 in Alzheimer’s disease patients in 2020 Strong cash and investments position of $548.5 million to support execution of clinical, research, and operational goals SOUTH SAN FRANCISCO, Calif., May 13, 2020 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical- stage biotechnology company pioneering immuno-neurology, today announced business highlights and financial results for the first quarter ended March 31, 2020.\n “At Alector we are committed to developing transformative treatments for neurodegeneration. We believe that our mission could benefit millions of patients and families affected by neurodegenerative diseases, and even with the current COVID-19 health crisis, we remain focused on advancing our portfolio of immuno-neurology programs,” said Arnon Rosenthal, Ph.D., Co-founder, and Chief Executive Officer of Alector. “Our COVID-19 task force and the entire Alector team continues to focus on initiating a pivotal Phase 3 study of AL001 in FTD-GRN patients and a Phase 2 study of AL002 in Alzheimer’s disease patients in 2020.” Business Highlights COVID-19 Response Alector is actively monitoring the evolving impact of COVID-19 on its operations and clinical trials, with a primary focus on the health and safety of employees, clinical trial participants, and clinical trial site teams. The Company is complying with regulatory, institutional, and governmental guidance for conducting its business worldwide. As the COVID-19 pandemic continues to evolve, it could impact Alector’s programs in the future. The Company is also continuing with its efforts to complete enrollment across ongoing clinical trials. Currently, certain clinical trial sites have delayed enrollment of new patients and paused clinical trial visits across clinical development programs. Alector is aware that some participants in ongoing trials have not been able to receive scheduled doses on time due to site closures or various state and local shelter-in-place directives. However, the Company is continuing to collect data from all existing clinical trial participants enrolled to date. The Company remai...