Business
Alector Reports Second Quarter 2024 Financial Results and Provides Business Update
Data from INVOKE-2 Phase 2 clinical trial of AL002 in individuals with early Alzheimer’s disease (AD) on track for Q4 2024 Patient baseline characteristics
About this update from Alector, Inc.
[{"type":"text","content":"Data from INVOKE-2 Phase 2 clinical trial of AL002 in individuals with early Alzheimer’s disease (AD) on track for Q4 2024 Patient baseline characteristics data for the INVOKE-2 trial confirm the intended study population for testing the effects of AL002, a novel TREM2 agonist, in early AD The latozinemab pivotal INFRONT-3 Phase 3 trial continues to progress well, supported by a recent U.S. Food and Drug Administration interaction post Breakthrough Therapy Designation $503.3 million in cash, cash equivalents and investments provide runway through 2026 Management to host conference call and webcast today at 4:30 p.m. ET/1:30 p.m. PT SOUTH SAN FRANCISCO, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, today reported second quarter 2024 financial results and recent portfolio and business updates. As of June 30, 2024, Alector’s cash, cash equivalents and investments totaled $503.3 million. “Alector’s significant progress in recent months has set the stage for a transformative period ahead, as we approach key clinical catalysts for our maturing, potential first-in-class immuno-neurology programs,” said Arnon Rosenthal, Ph.D., Chief Executive Officer of Alector. “We remain on track to report data from INVOKE-2, our Phase 2 clinical trial in early Alzheimer’s disease for AL002, in the fourth quarter, and we are encouraged that the recently reported patient baseline characteristics reflect a study population appropriate for the clinical evaluation of a TREM2 agonist in this indication.” Dr. Rosenthal continued, “In addition, the recent Breakthrough Therapy Designation for latozinemab in frontotemporal dementia with a progranulin gene mutation has provided the opportunity for increased interactions with the FDA about this program, and we now have additional clarity on how key biomarkers may support our path to a potential regulatory submission. In parallel, we are continuing to enroll patients in the PROGRESS-AD Phase 2 trial of AL101/GSK4527226. With a cash runway that extends through 2026, we are in a strong financial position as we approach these key milestones.” Sara Kenkare-Mitra, Ph.D., President and Head of Research and Development at Alector added, “In June, Alector hosted a virtual research and development event focused on the Alector Bra...