Alector reports Q3 EPS (53c), consensus (66c)

Reports Q3 revenue $9.11M, consensus $9.97M. “We’ve made significant clinical advancements in our late-stage immuno-neurology programs in the second half of 2023,” said Arnon Rosenthal, Ph.D., Chief Executive Officer of Alector. “Notably, we successfully completed enrollment in the INVOKE-2 Phase 2 trial in collaboration with AbbVie, positioning us for a meaningful data readout in the fourth quarter of 2024. In collaboration with GSK, we achieved our enrollment target of 103 symptomatic participants with frontotemporal dementia due to a progranulin gene mutation in the pivotal INFRONT-3 Phase 3 clinical trial of latozinemab. Further, we are progressing our strategic partnership with GSK to evaluate the potential of our progranulin programs in more prevalent neurodegenerative diseases with patient screening underway for the upcoming Phase 2 trial of AL101/GSK4257226 in early Alzheimer’s disease.”