Form 8-K
8-K — Alector, Inc.
Accession: 0001193125-26-338008
Filed: 2026-08-06
Period: 2026-08-06
CIK: 0001653087
SIC: 2836 (BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES))
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — alec-20260806.htm (Primary)
EX-99.1 (alec-ex99_1.htm)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: alec-20260806.htm · Sequence: 1
8-K
false000165308700016530872026-08-062026-08-06
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 06, 2026
Alector, Inc.
(Exact name of Registrant as Specified in Its Charter)
Delaware
001-38792
82-2933343
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
131 Oyster Point Blvd.
Suite 600
South San Francisco, California
94080
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s Telephone Number, Including Area Code: (415) 231-5660
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Common Stock
ALEC
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 6, 2026, Alector, Inc. (the “Company”) announced its financial results for the quarter ended June 30, 2026. A press release announcing these results, which is attached hereto as Exhibit 99.1, is incorporated herein by reference.
All of the information furnished in Item 2.02 and Item 9.01 (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
99.1
Press Release dated August 6, 2026
104
Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
ALECTOR, INC.
Date:
August 6, 2026
By:
/s/ Arnon Rosenthal
Arnon Rosenthal, Ph.D.
Co-founder and Chief Executive Officer
EX-99.1
EX-99.1
Filename: alec-ex99_1.htm · Sequence: 2
EX-99.1
Exhibit 99.1
Alector Reports Second Quarter 2026 Financial Results and Provides Business Update
Advancing the Alector Brain Carrier (ABC) blood-brain barrier platform across antibodies, enzymes, and siRNA, with AL137 advancing as Alector’s lead ABC-enabled anti-amyloid beta (Aβ) antibody program for Alzheimer’s disease (AD).
Continued progress across AL064/AL164 (ABC-enabled Tau siRNA for AD and other tauopathies) and AL050 (ABC-enabled GCase Enzyme Replacement Therapy for Parkinson’s disease (PD)).
$172.8 million in cash, cash equivalents and investments provide runway at least through 2027
---
SOUTH SAN FRANCISCO, Calif., August 6, 2026 (GLOBE NEWSWIRE) – Alector, Inc. (Nasdaq: ALEC), a biotechnology company focused on developing therapies to counteract the devastating progression of neurodegeneration, today reported second quarter 2026 financial results and recent portfolio and business updates. As of June 30, 2026, Alector’s cash, cash equivalents, and investments totaled $172.8 million.
"We continue to make steady progress across our ABC-enabled preclinical and research pipeline,” said Arnon Rosenthal, Ph.D., Chief Executive Officer of Alector. “Our work across antibodies, enzymes, and siRNA reflects the versatility of the ABC platform and our strategy to apply it to programs where enhanced brain delivery may address important limitations in the treatment of neurodegenerative diseases. We remain focused on disciplined execution as we advance our portfolio toward clinical development, with the goal of addressing important unmet needs for patients living with neurodegenerative diseases.”
Recent Program Updates
Alector Brain Carrier (ABC): Preclinical and Research Pipeline
Alector’s proprietary Alector Brain Carrier (ABC) blood-brain barrier platform is central to the company’s strategy to enhance therapeutic delivery to the brain. ABC is designed to achieve efficient, enhanced brain delivery through differentiated binding to a distinct region of the transferrin receptor (TfR) and to enable peripheral dosing, while preserving a favorable safety profile. It is adaptable across multiple drug modalities, including antibodies, enzymes, and siRNA.
Core to the platform's design are the principles of versatility, translatability, and differentiated binding. Preclinical studies across multiple ABC-enabled programs have
shown robust brain penetration, supporting the advancement of a broad pipeline directed at the underlying drivers of neurodegenerative diseases.
AL137
•
Following successful completion of IND-enabling studies evaluating both subcutaneous (SC) and intravenous (IV) administration, Alector selected AL137 as the lead molecule for its anti-amyloid beta (Aβ) antibody program for AD, with AL037 retained as a backup candidate. The company is targeting an IND submission in Q1 2027 and first-in-human dosing in Australia no later than April 2027.
•
AL137 combines Alector’s proprietary high-affinity fully human anti-Aβ antibody which selectively binds pyroglutamate-3 (PyroGlu3-Aβ), a validated and pathogenic form of Aβ enriched in amyloid plaques, with the company’s proprietary ABC platform. Based on preclinical studies, AL137 is designed to be delivered SC and to combine several differentiated attributes intended to optimize efficacy, safety, convenience, and manufacturability, including:
•
High brain exposure and efficient brain delivery through the ABC platform, supporting low projected efficacious dose.
•
Preserved full IgG1 Fc effector function, designed to maximize recruitment of brain immune cells for efficient amyloid plaque clearance.
•
A proprietary transferrin receptor (TfR)-binding epitope designed to maintain brain delivery while reducing hematologic adverse effects associated with targeting TfR with a full Fc effector function.
•
A favorable preclinical safety profile to support the planned clinical study, with no observed adverse effects and only transient, reversible, non-adverse hematological findings with SC dosing.
•
Supportive pharmacokinetic and formulation characteristics intended to enable convenient monthly subcutaneous administration using a high-concentration formulation.
•
High-productivity manufacturability, with an identified stable, high-expressing cell line designed to support efficient large-scale manufacturing and commercial scalability.
ABC-Enabled siRNA Platform
•
Alector continues to advance its ABC-enabled siRNA platform, designed for peripheral dosing and offering the potential for more convenient administration compared with traditional intrathecal delivery, as well as the potential for homogeneous drug distribution throughout the brain.
AL064/AL164
•
Alector’s lead siRNA program, AL064/AL164, is a tau siRNA program for AD and other tauopathies and aims to reduce toxic tau protein expression and slowing of cognitive decline in AD.
•
AL064 demonstrated robust tau mRNA knockdown and durable reduction of phospho-Tau 217 in non-human primate brains. AL064 was modified to incorporate a well-validated chemical modification intended to further optimize siRNA stability, and this modified form is advancing into IND-enabling studies as AL164.
Early-Stage siRNA Programs
•
Earlier-stage siRNA programs advancing toward lead candidate selection include ADP062-ABC, an alpha-synuclein siRNA for PD, and ADP065-ABC, an NLRP3 siRNA for multiple neurodegenerative conditions, reflecting the broad applicability of the ABC platform across disease mechanisms. Alector continues to evaluate development plans and timing for its ABC-enabled siRNA programs.
AL050
•
AL050, Alector’s ABC-enabled engineered glucocerebrosidase (GCase) enzyme replacement therapy (ERT), is in preclinical development for PD.
•
AL050 is engineered to overcome the central challenges of delivering enzyme therapy to the brain, combining an engineered GCase with enhanced activity and stability, a silenced effector function for safety, and Alector's tunable ABC technology. To date, preclinical data have demonstrated increased GCase activity in both rodents and NHPs and reduced toxic substrate accumulation in a rodent GBA disease model with no apparent hematologic findings, supporting continued development as a potential therapy for PD and Lewy body dementia (LBD) associated with GBA loss-of-function mutations and subsequently for idiopathic PD and LBD.
Second Quarter 2026 Financial Results
Revenue. Collaboration revenue for the quarter ended June 30, 2026, was $3.3 million, compared to $7.9 million for the same period in 2025. The decrease was primarily due to lower revenue recognized for the AL101 AD program.
R&D Expenses. Total research and development expenses for the quarter ended June 30, 2026, were $19.5 million, compared to $27.6 million for the quarter ended June 30, 2025.
The decrease was mainly due to a decrease in personnel-related costs as a result of the reductions in force as well as a decrease in facilities and other expenses.
G&A Expenses. Total general and administrative expenses for the quarter ended June 30, 2026, were $8.3 million, compared to $14.4 million for the quarter ended June 30, 2025. The decrease was mainly driven by a decrease in personnel-related costs as a result of the reductions in force.
Net Loss. For the quarter ended June 30, 2026, Alector reported a net loss of $23.0 million, or $0.21 net loss per share, compared to a net loss of $30.5 million, or $0.30 net loss per share, for the same period in 2025.
Cash Position. Cash, cash equivalents, and investments were $172.8 million as of June 30, 2026. Management anticipates that this will be sufficient to fund Alector’s operations at least through 2027.
About Alector
Alector is a biotechnology company focused on developing therapies to counteract the devastating progression of neurodegenerative diseases. Leveraging the principles of genetics, immunology, and neuroscience, the company is advancing a portfolio of programs that aim to remove toxic proteins, replace missing proteins, and restore immune and nerve cell function. Supported by biomarkers, Alector’s product candidates seek to treat a range of indications, such as Alzheimer’s disease and Parkinson's disease. The company is also developing Alector Brain Carrier (ABC), a proprietary blood-brain barrier platform, which is being applied to its preclinical and research pipeline. ABC aims to enhance the delivery of therapeutics, achieve deeper brain penetration and efficacy at lower doses, and ultimately improve patient outcomes while reducing costs. Alector is headquartered in South San Francisco, California. For more information, please visit www.alector.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements regarding our business plans, business strategy, product candidates, research and preclinical pipeline, blood-brain barrier technology platform, planned and ongoing preclinical studies, planned clinical trials, expected milestones, and financial and cash guidance. Such statements are subject to numerous risks and uncertainties, including but not limited to risks and uncertainties as set forth in Alector’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, with the Securities and Exchange Commission (“SEC”), as well as the other documents Alector files from time to time with the SEC. These documents contain and identify important factors that could cause the actual results for Alector to differ materially from those contained in Alector’s forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Alector
specifically disclaims any obligation to update any forward-looking statement, except as required by law.
Selected Consolidated Balance Sheet Data
(in thousands)
June 30,
December 31,
2026
2025
Cash, cash equivalents, and marketable securities
$
172,798
$
256,024
Total assets
202,855
293,237
Total current liabilities (excluding deferred revenue)
34,236
62,819
Deferred revenue (including current portion)
162,866
171,221
Total liabilities
212,825
262,588
Total stockholders’ equity (deficit)
(9,970)
30,649
Condensed Consolidated Statement of Operations Data
(in thousands, except share and per share data)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Collaboration revenue
$
3,320
$
7,874
$
4,366
$
11,548
Operating expenses:
Research and development
19,460
27,611
37,317
61,252
General and administrative
8,253
14,401
16,361
29,129
Total operating expenses
27,713
42,012
53,678
90,381
Loss from operations
(24,393)
(34,138)
(49,312)
(78,833)
Other income, net
1,533
3,614
3,522
7,838
Net loss before income tax
(22,860)
(30,524)
(45,790)
(70,995)
Income tax expense
130
—
130
—
Net loss
$
(22,990)
$
(30,524)
$
(45,920)
$
(70,995)
Net loss per share, basic and diluted
$
(0.21)
$
(0.30)
$
(0.41)
$
(0.71)
Shares used in computing net loss
per share basic and diluted
111,224,116
100,371,632
110,908,937
99,887,605
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