Alector, Inc. · NASDAQ:ALEC
Alector — Corporate Update (October 2026)
47 slides from Alector's corporate update, Oct 13, 2026
Slide 1: Alector: Next-Generation Medicines for Neurodegeneration
Alector: Next-Generation Medicines for Neurodegeneration October 13, 2026 -- Alector’s differentiated brain-delivery platform spans antibodies, enzymes, and siRNA, with partnership validation, financial flexibility, and multiple clinical value inflection points through 2028
Slide 2: Forward-Looking Statement
Forward-Looking Statement This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation are forward-looking statements. In some cases, you can identify forward-looking st
Slide 3: Our Pipeline is Built on a New Foundation: Alector Brain Carrier (ABC)
Our Pipeline is Built on a New Foundation: Alector Brain Carrier (ABC) Earlier clinical programs pioneered novel targets with standard antibodies; every program in today’s pipeline is built on ABC EARLIER PROGRA MS TODAY Standard antibodies against novel ABC-enabled new drug modalities targets witho
Slide 4: AL050: Brain-Penetrant GCase ERT – Licensed to Genentech (2026)
AL050: Brain-Penetrant GCase ERT – Licensed to Genentech (2026) U P F R O N T PA Y M E N T * MIL ESTON E S* R O YA LT I E S * $100M Up to $1.17B Tiered Development, regulatory and commercial On net sales AL050 OVERVIEW • GCase deficiency affects up to 1.5M PD¹ and 2.4M LBD² patients with GBA1 mutati
Slide 5: Our Assets and Targeted Milestones Within Our Runway
Our Assets and Targeted Milestones Within Our Runway Runway into 2029 Q3 26 Q4 26 Q1 27 Q2 27 Q3 27 Q4 27 Q1 28 Q2 28 Q3 28 Q4 28 Q1 29 AL137 (AD) - ABC anti-Aβ antibody Fully Owned FIH in HV FIH in AD Serial PET Imaging and Biomarker Assessments Targeting no ARIA, anemia, or IRR; Monthly SC deliver
Slide 6: AL137 Alector Brain Carrier-enabled Anti-amyloid beta (Aβ) Antibody Program
AL137 Alector Brain Carrier-enabled Anti-amyloid beta (Aβ) Antibody Program AL137 represents the nearest-term clinical opportunity Property of Alector 6
Slide 7: The Growing Global Burden of Alzheimer’s Disease
The Growing Global Burden of Alzheimer’s Disease New dementia cases Estimated people living with ~10M each year, about one Alzheimer’s disease worldwide (millions) every 3 seconds Estimated dementia ~90M ~2M deaths in 2021 ~51M Annual global dementia ~$1.3T burden, projected to ~37M reach $2.8T by 2
Slide 8: AL137: Targeting Aβ with Best-in-Class Efficacy, Safety and Convenience
AL137: Targeting Aβ with Best-in-Class Efficacy, Safety and Convenience Designed for superior brain exposure, reduced ARIA and hematologic risks, and monthly at-home subcutaneous delivery Clinically validated 1 Anti-PyroGlu3 Aβ AL137 Targets a Clinically Derisked Aβ Epitope Binding Epitope PyroGlu3
Slide 9: Anti-Aβ Antibodies Require Fc Effector Function to Recruit Microglia and Clear Plaques
Anti-Aβ Antibodies Require Fc Effector Function to Recruit Microglia and Clear Plaques Microglia “Excavators” express all three major classes of Fcγ receptors; all can be engaged by IgG1 “Surveyors” antibodies Reduced / No Fc effector Function Aβ plaque Antibody Microglia Fc Receptors Expressed Pla
Slide 10: AL137 Binds PyroGlu3 Aβ-Containing Plaques in Human AD Brain Sections
AL137 Targets a Clinically Derisked Aβ Epitope: AL137 Binds PyroGlu3 Aβ-Containing Plaques in Human AD Brain Sections PyroGlu3 Aβ was Clinically Derisked by Lilly’s Donanemab and Remternetug (Rem) AL137 colocalizes with all identified A plaques on human AD brain sections similar to Rem Unfixed, fro
Slide 11: AL137 Facilitates Phagocytosis of Aβ by Human Microglia
AL137 Targets a Clinically Derisked Aβ Epitope: AL137 Facilitates Phagocytosis of Aβ by Human Microglia Fluorescent Imaging (red) of PyroGlu3 Aβ AL137-Dependent Phagocytosis of PyroGlu3 Aβ by Human Phagocytosed by Microglia in 24h IPSC Microglia in Culture similar to Don and Rem Aβ only Isotype Cont
Slide 12: Clinical Evidence Supports Full IgG1 Effector Function in Anti-Aβ Therapy
AL137 Retains Clinically Derisked, Full IgG1 Effector Function: Clinical Evidence Supports Full IgG1 Effector Function in Anti-Aβ Therapy FULL Effector (IgG1) / Benefit in Human AD REDUCED Effector Function* / No Benefit in Human AD • Lecanemab (Biogen/Eisai): positive Phase 3- • Crenezumab (IgG4) (
Slide 13: Modulating Fc Effector Function in Anti-Aβ Antibodies Constitutes An Efficacy Risk
AL137 Retains Clinically Derisked, Full IgG1 Effector Function: Modulating Fc Effector Function in Anti A Antibodies Constitutes An Efficacy Risk Antibody Fc Format Development stage Potential Liability Trontinemab1 IgG1, full effector Phase 3 No Fc-Dependent Efficacy Risk ABBV-17582 IgG1, no effec
Slide 14: AL137 Displays Potent Brain Exposure
AL137 Displays Potent Brain Exposure Frontal Cortex (3mg/kg dose) Hippocampus (3mg/kg dose) 32x 29x Three NHPs per group were dosed on days 1 and 9. Brain tissues were collected 24 hours after the second injection and drug levels were measured in the vessel-depleted fraction. *E.g. to our calculatio
Slide 15: Broad Distribution and Extensive Plaque Labeling in an Alzheimer's Mouse Model
AL137 Incorporates a Potent Brain Carrier: Broad Distribution and Extensive Plaque Labeling in an Alzheimer's Mouse Model Isotype No-ABC ABC Light sheet microscopy on 7-month-old AD mouse model dosed once at 10 mg/kg and collected after 24h. Naked antibody labels the vasculature and ventricles while
Slide 16: AL137 Projected Low, Single-Digit mg/kg Dose with SC Administration
AL137 Low Projected Efficacious Dose: AL137 Projected Low, Single-Digit mg/kg Dose with SC Administration Predicted serum PK of AL137 and trontinemab Predicted brain PK of AL137 and trontinemab brain- brain-enabled clinical mAb enabled clinical antibody Trontinemab Trontinemab AL137 is projected to
Slide 17: AL137 Was Well-Tolerated in NHPs at Repeated Subcutaneous Administration
AL137: Projected Favorable Tolerability: AL137 Was Well-Tolerated in NHPs at Repeated Subcutaneous (SC) Administration Delivery Safety NOAEL AL137 is delivered SC, the Well-tolerated in IND-enabling NOAEL from IND-enabling intended clinical route of studies, with transient reticulocyte studies suppo
Slide 18: AL137 ABC Targets an Epitope with a Favorable Hematologic Safety Profile
AL137 ABC Targets an Epitope with a Favorable Hematologic Safety Profile: ABC Delivers Reduced Anemia Risk with a Full Effector Exposed Epitope Exposed Epitope + Cis 8 Red Blood Cell 18 Hemoglobin (Co-binding to FcγR) LALAPS 15 RBC Count (10^6/uL) (same epitope as Korsana, Hemaglobin (g/dL) 6 Denali
Slide 19: Anti-Aβ Brain Shuttle Landscape; AL137 Potential Best-in-Class Advantages
Anti-Aβ Brain Shuttle Landscape; AL137 Potential Best-in-Class Advantages Despite a Crowded Field, Few Candidates May Have High PTS Due to Unvalidated Fc Modifications, Brain Shuttles, or Aβ Epitopes Company Candidate Stage Principal development risk / uncertainty Roche Trontinemab Phase 3 Shuttle H
Slide 20: AL137 Phase 1 Clinical Plan
AL137 Phase 1 Clinical Plan • Assess safety, tolerability, and exposure across ascending doses. PHASE 1 OBJECTIVES • Characterize dose-response and PD markers of amyloid reduction. • SAD in Healthy Volunteers (SC) o Assess safety, anemia, and injection-related reactions. o Measure serum and CSF expo
Slide 21: SAD in Australia — Targeted Cohort Timeline
SAD in Australia — Targeted Cohort Timeline SC dose escalation in healthy volunteers; monitor safety, hematology, injection reactions, and serum/CSF exposure. Timeline assumes no safety-related delays. Q2 ’27 Q3 ’27 Cohort 1 Cohort 2 Cohort 3 Cohort 4 Clinically validated pyroGlu3 Aβ and full Fc eff
Slide 22: CSF Exposure of AL137 Is Expected to Predict Exposure in Brain Tissues
CSF Exposure of AL137 Is Expected to Predict Exposure in Brain Tissues Concentrations of AL137 naked vs AL137 in the CSF Concentrations of AL137 naked vs AL137 in the Frontal Cortex 12.5x 32x At a clinically relevant dose of 3mg/kg, AL137 reaches mean concentrations of 184 ng/mL on Day 2 in the CSF
Slide 23: MAD in US and Australia: Targeted Cohort Timeline & Amyloid PET Readouts
MAD in US and Australia: Targeted Cohort Timeline & Amyloid PET Readouts Ascending SC doses in early AD; monitor amyloid PET, serum/CSF biomarkers, safety, ARIA, anemia, and injection-related reactions. Runway into 2029 Q3 '27 Q4 '27 Q1 '28 Q2 '28 Q3 '28 Q4 '28 Cohort 1 Q4W Cohort 2 Q4W Cohort 3 Q4W
Slide 24: Summary of AL137 Timeline; Clinical Validation Starting April 2027
Summary of AL137 Timeline; Clinical Validation Starting April 2027 Runway into 2029 Q3 26 Q4 26 Q1 27 Q2 27 Q3 27 Q4 27 Q1 28 Q2 28 Q3 28 Q4 28 Q1 29 FIH in HV FIH in AD, Monthly (Q2 27) SC dosing (Q3 27) HREC Submission Expected multiple PET imaging, biomarkers, ARIA, anemia, Australia (Q4 26) IRR
Slide 25: Alector Brain Carrier Platform for siRNA Cargo
Alector Brain Carrier Platform for siRNA Cargo ABC-siRNA Creates Substantial Platform Value Through a Versatile, Plug-and-Play Brain Carrier for Multiple siRNA Cargos and CNS Targets Property of Alector 25
Slide 26: ABC-Enabled siRNA Platform: Demonstrated Capabilities
ABC-Enabled siRNA Platform: Demonstrated Capabilities Targeting a differentiated profile for peripheral delivery of siRNA therapeutics to the brain Optimized Shuttle Subcutaneous Delivery -6 Infrequent Treatment 1 2 3 Optimized Affinity, Kinetics, and Demonstrated High Brain siRNA Targeting Durable
Slide 27: Alector Brain Carrier: Optimized Affinity Drives Superior Brain siRNA Delivery
Alector Brain Carrier: Optimized Affinity Drives Superior Brain siRNA Delivery Optimized anti-TfR affinity, binding AL164 delivers more siRNA into rodent brain than kinetics and drug configuration Arrowhead and Eli Lilly competitor AOCs ABC siRNA Cortex Optimal Configuration, Binding 250 Kinetics an
Slide 28: AL164: ABC-enabled Tau siRNA Program
AL164 ABC-enabled Tau siRNA Program Property of Alector 28
Slide 29: Tauopathies: A Large and Diverse Disease Burden
Tauopathies: A Large and Diverse Disease Burden ~34–40M Estimated people living with AD worldwide Tauopathies include common and rare diseases Pooled prevalence of PSP; Alzheimer’s disease ~7/100K likely underrecognized Largest tauopathy population Amyloid and tau pathology Median survival after PSP
Slide 30: AL164: Aiming for Brain-Wide Tau Reduction Without Invasive Spinal Injections
AL164: Aiming for Brain-Wide Tau Reduction Without Invasive Spinal Injections Designed for intracellular Tau reduction with subcutaneous delivery and broad brain distribution TARGET VALIDATION Phase 2 Diranersen reduced Tau pathology and showed encouraging clinical trends, supporting Tau lowering in
Slide 31: AL164 Aims to Enable Non-Invasive Subcutaneously Administered Delivery of siRNA to the Brain
AL164 Aims to Enable Non-Invasive Subcutaneously Administered Delivery of siRNA to the Brain AL164 Diranersen Systemic route, broad brain exposure CSF route, regional variability • Scalable delivery for a global AD population Brain-wide Non-homogeneous delivery through brain delivery through approac
Slide 32: Unmodified AL164 (AL064) Tau siRNA Demonstrates pM Potency in Vitro
Unmodified AL164 (AL064) Tau siRNA Demonstrates pM Potency in Vitro Dose-Dependent Knockdown Knockdown all MAPT Isoforms in Knockdown of MAPT in Cyno Knockdown of MAPT in iPSC in MAPT Expressing Cell Line Human Neuroblastoma Cell Line Primary Astrocytes Neurons by AL064 AL064 siRNA 2x dosing 4x dosi
Slide 33: AL164 Induces Up to 81% Durable Tau mRNA Knockdown in Murine Model
AL164 Induces Up to 81% Durable Tau mRNA Knockdown in Murine Model Three AL164 Loading Doses Achieve 81% Tau Knockdown in Single-Dose AL164 Maintains >50% Tau mRNA Knockdown for Over 2 Months Mouse Brain HuTfR x hMAPT double-knockin mice were injected subcutaneously (left) three times with 7.5 mg/kg
Slide 34: Peripheral AL064 Delivery Achieves Uniform Brain Exposure and Broad Cortical Neuronal Uptake
Peripheral AL064 Delivery Achieves Uniform Brain Exposure and Broad Cortical Neuronal Uptake AL064 reaches up to 130nM siRNA in NHP brain AL064 broadly distributes across cortical neurons AL064 siRNA (red) Neuron (Green) Overlay Three NHP per group were injected via IV infusion on days 1, 8, 15 with
Slide 35: Peripheral AL064 Achieves Up to 70% Tau mRNA Knockdown in NHPs
Peripheral AL064 (Unmodified AL164) Achieves Up to 70% Tau mRNA Knockdown in NHPs Knockdown of Tau mRNA in Brain Tissues (28 days) Vehicle AL064 Three NHP per group were injected via IV infusion on days 1, 8, 15 with 3 mg/kg and the level of MAPT mRNA in different brain regions was measured at day 2
Slide 36: AL064: Durable pTau217 Reduction in NHP Brain and CSF
AL064 (Unmodified AL164): Durable pTau217 Reduction in NHP Brain and CSF Up to 60+% Reduction of pTau 217 in NHP Brain 45% Reduction of pTau 217 in the CSF at Days 28 and 98 at Day 70 D28 and D98 normalized to experiment-specific vehicle treated cohort. Dosing Three NHP per group were injected via I
Slide 37: Subcutaneous Delivery of AL164: Up to 76% mRNA Knockdown in NHP Brain
Subcutaneous Delivery of AL164: Up to 76% mRNA Knockdown in NHP Brain NHPs (n = 3 per group; n = 2 for vehicle) received subcutaneous (SC) injections of the AL164 at 3 mg/kg siRNA-dose equivalent on days 1, 8, and 15. MAPT mRNA levels in the indicated brain regions were measured by qRT-PCR on day 29
Slide 38: AL164 Current Status; Targeting FIH in Q2 2028
AL164 Current Status; Targeting FIH in Q2 2028 S AF ETY Fast-tracked No AL164/AL064-Related Adverse Findings in NHPs at 2026 manufacturing with a Doses Up to 30 mg/kg siRNA global leader in AOC AL164 and AL064 were well tolerated following IV or SC administration in NHPs up to 30 mg/kg siRNA dose 15
Slide 39: AL062: ABC-enabled α-Synuclein siRNA Program
AL062 ABC-enabled -Synuclein siRNA Program Property of Alector 39
Slide 40: The Growing Burden of Parkinson’s Disease and Lewy Body Dementia
The Growing Burden of Parkinson’s Disease and Lewy Body Dementia ~12M People living with Parkinson’s disease People living with Parkinson’s worldwide in 2021 disease worldwide (millions) ~1.4M People living with Lewy body dementia in the U.S. 25.2M ~$52B Annual U.S. economic burden of Parkinson’s 11
Slide 41: AL062: Brain-Enabled, Disease-Modifying, Anti-α-Synuclein Therapy for PD/LBD
AL062: Brain-Enabled, Disease-Modifying, Anti-α-Synuclein Therapy for PD/LBD Silencing intracellular α-synuclein production with peripheral delivery and broad brain distribution THE CHALLENGE: No approved disease-modifying therapies for PD/LBD; antibodies have limited efficacy against intracellular
Slide 42: AL062 siRNA: High Potency and No Observed Off-Target Activity
AL062 siRNA: High Potency and No Observed Off-Target Activity Dose-Dependent Knockdown in SNCA No observed Off-Target in Human Cell Expressing Cell Line Lines at Up to 50nM Oligo ID AL062 analogue Hep3B #DEGs IC50=3pM 50% KD (FDR < 0.05, 0 Max KD: 84% log2FC <= -1) SH-SY5Y #DEGs 50% KD (FDR < 0.05,
Slide 43: AL062 Significantly Reduces α-Synuclein Expression Throughout the Mouse Brain
AL062 Significantly Reduces α-Synuclein Expression Throughout the Mouse Brain AL062 siRNA is delivered throughout Study design Snca expression was reduced 84-94% the mouse brain SC hTfR KI 3 x 3mg/kg siRNA hTfR KI mice were dosed subcutaneously 3 times siRNA concentration was determined using an Snc
Slide 44: Subcutaneous Delivery of AL062 Reduced α-Synuclein Expression by up to 94% in NHP Brain
Subcutaneous Delivery of AL062 Reduced α-Synuclein Expression by up to 94% in NHP Brain AL062 achieved over 85% SNCA knockdown in most brain regions NHPs were injected subcutaneously on days 1, 8, and 15 with 3mg/kg siRNA equivalent dose. Brain samples were collected on Day 29 and SNCA expression wa
Slide 45: AL062 Current Status; Targeting FIH in Q2 2028
AL062 Current Status; Targeting FIH in Q2 2028 S AF ETY Fast-tracked No AL062 related adverse findings in any tissue in NHPs 2026 manufacturing with a global leader in AOC AL062 was well tolerated following repeat SC administration in NHPs 150 mg/mL Manufacturable delivery for SC No test article-rel
Slide 46: Multiple Paths to Value Creation
Alector: From conventional antibodies to ABC- 01 Alector Has Evolved enabled therapeutics targeting validated biology. Multiple Paths to Value Creation Large Pharma validates ABC Partnership Validates 02 the Strategy technology and extends runway into 2029. One proprietary brain-delivery platform. M
Slide 47: Thank You
Thank You Alector’s differentiated brain-delivery platform spans antibodies, enzymes, and siRNA, with partnership validation, financial flexibility, and multiple clinical value inflection points through 2028.