Business
Alector Reports Third Quarter 2022 Financial Results and Provides Business Update
Progressing enrollment in the INFRONT-3 Phase 3 pivotal study for latozinemab (AL001) and in the INVOKE-2 Phase 2 study for AL002 Initiated first-in-human
About this update from Alector, Inc.
[{"type":"text","content":"Progressing enrollment in the INFRONT-3 Phase 3 pivotal study for latozinemab (AL001) and in the INVOKE-2 Phase 2 study for AL002 Initiated first-in-human Phase 1 trial of AL044, the company’s third novel, first-in-class clinical stage microglia immune checkpoint therapy for the treatment of Alzheimer’s disease (AD) $758.3 million in cash, cash equivalents and investments provide runway through 2024 SOUTH SAN FRANCISCO, Calif., Nov. 08, 2022 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology and innate immuno-oncology, today reported third quarter 2022 financial results and recent portfolio and business updates. As of September 30, 2022, Alector’s cash, cash equivalents and investments totaled $758.3 million. Commentary on the Quarter: “In the third quarter, we expanded our first-in-class clinical immuno-neurology pipeline with AL044, a biologic targeting MS4A, a brain immune checkpoint molecule and a genetic risk factor for Alzheimer’s disease. We also continued to advance our INFRONT-3 Phase 3 pivotal study of latozinemab for frontotemporal dementia with progranulin mutations, or FTD-GRN, and our INVOKE-2 Phase 2 Alzheimer’s disease study with AL002, which activates TREM2 receptor signaling,” said Arnon Rosenthal, Ph.D., Chief Executive Officer of Alector. “We will be reporting new data from the Phase 1 study of AL101 later this year at CTAD in addition to follow-up data from the INFRONT-2 Phase 2 trial in patients with symptomatic FTD-C9orf72 in 2023.” “We anticipate biomarker data from the AL044 healthy volunteer study and completion of enrollment in our INVOKE-2 study in 2023. We believe that our immuno-neurology drug candidates, which are designed to regulate key aspects of microglial proliferation, survival, migration, lysosomal function and immune response, could prove important in effectively treating neurodegeneration either as stand-alone therapies or potentially in combination with anti-beta amyloid drugs.” Sara Kenkare-Mitra, Ph.D., President and Head of Research and Development at Alector, added, “Our immuno-oncology pipeline continues to advance as well. We remain on track to submit an IND for AL009, Alector’s first-in-class multi-Siglec inhibitor, by the end of the year.” “We are also thrilled to have expanded our talented leadership team over the ...