Alector data supportive of slowing disease progression, says H.C. Wainwright

H.C. Wainwright analyst Andrew Fein says Alector’s deep dive on its progranulin program focused on the biological relevance of GRN deficiency in diseases like frontotemporal dementia and Alzheimer’s disease. The preclinical and the human Phase 1 data “showed convincingly” that AL001 is capable of increasing the progranulin levels in the brain followed by the Phase 2 study which showed using various biomarkers and clinical and functional behavioral measuring tool that when compared to GENFI matched control, AL001 was able to slow the progression of the disease, the analyst tells investors in a research note. The firm remains encouraged about the mechanism of action of AL001 concerning FTD-GRN and its implication in broader neurodegenerative diseases. It reiterates a Buy rating on Alector with a $41 price target. H.C. Wainwright believes the INFRONT-2 data is supportive of the role of PGRN in slowing down of FTD-GRN disease progression.