ALEC Stock — Alector Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biotechnology company developing therapies for neurodegenerative diseases, with a focus on areas of high unmet medical need. Our work is informed by advances in disease biology, including the roles of misfolded or deficient proteins, lysosomal dysfunction, and immune and neuronal pathway disruption.

Source: 10-K FY2025 via SEC EDGAR

Share price

$2.29

Market cap

$339.5M

Cash

$138.7M

Enterprise value

$202.3M

Balance sheet

Cash	$138.7M
Debt	$1.5M
Net cash	$137.2M
Enterprise value	$202.3M
Basic shares	111.7M shares
Fully diluted shares	128.7M shares
Fully diluted market cap	$294.6M
Cash per share	$1.24
Quarterly burn	$34.2M
Cash runway	5.1 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

111.7M

Pre-funded warrants

0.0M

Options

10.0M

RSUs

2.7M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

4.3M

FDSO

128.7M

Cap table as of 2026-06-30.

Price history

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Next catalyst

AL137 · Est. Feb 14, 2027 · quarter midpoint · guided in 8 wks

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Feb 14, 2027 in 8 wks quarter midpoint	AL137 IND submission	Not disclosed	Not disclosed	Q1 2027
Oct 27 - Dec 8 in 24 mo	GSK4527226	Phase 2	Alzheimer's Disease	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Latozinemab

Phase 3 · Terminated Modality: monoclonal antibody

Aliases AL001

Target progranulin (PGRN)

Partnerships GSK: collaboration and license agreement terminated (notice July 6, 2026; effective January 2, 2027)

Indications

frontotemporal dementia due to progranulin gene mutation (FTD-GRN) (Phase 3)

Status note Discontinued in FTD-GRN following INFRONT-3 Phase 3 readout in October 2025; clinical trials being wound down.

Nivisnebart

Phase 2 · Terminated Modality: monoclonal antibody

Aliases AL101/GSK4527226

Target SORT1

Partnerships GSK: collaboration and license agreement terminated (notice July 6, 2026; effective January 2, 2027)

Indications

early Alzheimer's disease (Phase 2)

Status note Discontinued in AD following PROGRESS-AD Phase 2 interim analysis in April 2026; clinical trials being wound down.

AL002

Stage not disclosed · Terminated

Indications

not disclosed (Stage not disclosed)

Status note Clinical trials being wound down per this filing; no indication, stage or target detail for AL002 in the excerpts.

AL137

Preclinical · Active Modality: monoclonal antibody (paired with Alector Brain Carrier blood-brain barrier platform)

Target amyloid beta (Aβ)

Indications

Alzheimer's disease (Preclinical)

Catalysts

— first quarter of 2027
— no later than April 2027

Status note Lead preclinical candidate after comparative evaluation vs AL037 (AL037 retained as backup; subcutaneous route selected). IND-enabling studies completed or completing.

AL064/AL164

Preclinical · Active Modality: siRNA

Aliases AL164

Target tau

Indications

Alzheimer's disease (Preclinical)
other tauopathies (Preclinical)

Status note Lead siRNA program; AL164 is the chemically modified form of AL064 advancing into IND-enabling studies. Earlier-stage siRNA programs (ADP062-ABC alpha-synuclein for PD; ADP065-ABC NLRP3) advancing toward lead selection.

AL050

Preclinical · Active Modality: enzyme replacement therapy (paired with Alector Brain Carrier blood-brain barrier platform)

Target glucocerebrosidase (GCase)

Indications

Parkinson's disease (GBA1 mutation patients) (Preclinical)
Lewy body dementia (GBA1 mutation patients) (Preclinical)

Status note Lysosomal glucocerebrosidase enzyme replacement therapy for GBA1-mutation patients.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06079190	Phase 2	Active, not recruiting	Collaborator	GSK	GSK	Alzheimer's Disease	—
NCT07105709	Phase 2	Recruiting	Collaborator	GSK	GSK	Alzheimer's Disease	—

Sponsor-matched active trials from ClinicalTrials.gov (0 as sponsor, 2 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for GlaxoSmithKline on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	2,883,583	+1,833,583	0.27%	2026-08-14
Ikarian Capital	1,982,606	-100,000	0.65%	2026-08-14
Deerfield Management	1,055,192	no change	0.02%	2026-08-14
DAFNA Capital	908,351	no change	0.35%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ALEC — Alector Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Active clinical trials

Specialist fund holders

Latest news

ALEC — Alector Inc.