Alector, Inc.

Listed Company

ALECCIK 0001653087NasdaqAcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)FY ends Dec 31

Period

FY 2025

Revenue

$21.05M

Net Income

$-142.93M

Total Assets

$293.24M

Equity

$30.65M

Shares Out

110.36M

Op. Cash Flow

$-184.03M

Business

Alector, Inc. is a late-stage clinical biotechnology company focused on developing therapies to counteract neurodegenerative diseases by targeting genetic drivers and cellular dysfunction. It develops monoclonal antibodies, engineered proteins, enzymes, and nucleic acid therapeutics — including progranulin-elevating antibodies (latozinemab, AL101/GSK4527226) and ABC-enabled candidates (ADP037-ABC, ADP050-ABC, ADP056, ADP063-ABC/ADP064-ABC). Its business comprises discovery and preclinical research, clinical development, a proprietary Alector Brain Carrier (ABC) blood–brain barrier platform, and strategic collaborations. Alector advances and distributes its programs globally through clinical trials and partnerships across North America, Europe, Asia-Pacific and other regions.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Collaboration revenue	21	101	97	134	207
Research and development	123	186	192	210	189
General and administrative	54	60	57	61	55
Total operating expenses	177	246	249	272	244
Loss from operations	−156	−145	−152	−138	−37
Other income, net	13	26	27	8	1
Loss before income taxes	−143	−119	−125	−130	−36
Income tax expense	168,000	128,000	5	3	0
Net loss	−143	−119	−130	−133	−36
Unrealized gain (loss) on marketable securities	−95,000	77,000	5	−4	−2
Comprehensive loss	−143	−119	−126	−137	−38
Net loss per share, basic	−1.39	−1.23	−1.56	−1.62	−0.45
Net loss per share, diluted	−1.39	−1.23	−1.56	−1.62	−0.45
Shares used in computing net loss per share, basic	103	97	84	82	80
Shares used in computing net loss per share, diluted	103	97	84	82	80

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	66	33	75	154	329
Marketable securities	190	380	474	559	406
Prepaid expenses and other current assets	10	11	17	11	7
Total current assets	266	425	566	726	750
Property and equipment, net	11	17	22	26	27
Operating lease right-of-use assets	14	20	25	28	31
Restricted cash	2	2	2	1	1
Other assets	386,000	5	7	6	6
Total assets	293	468	622	788	815
Accounts payable	2	2	4	4	5
Accrued clinical supply costs	4	7	5	6	9
Accrued liabilities	19	29	30	28	27
Deferred revenue, current portion	7	24	83	48	91
Payable to collaboration partner	17	6	8	0	—
Refund liability to collaboration partner, current portion	11	49	39	0	—
Operating lease liabilities, current portion	9	9	8	8	8
Short-term debt	366,000	0	—	—	—
Total current liabilities	70	125	178	94	140
Deferred revenue, long-term portion	165	172	211	443	334
Long-term debt	9	9	0	—	—
Refund liability to collaboration partner, long-term portion	0	9	67	0	—
Operating lease liabilities, long-term portion	17	24	30	35	40
Other long-term liabilities	2	1	1	759,000	158,000
Total liabilities	263	342	488	573	514
Commitments and contingencies (Note 4)	—	—	—	—	—
Common stock, $0.0001 par value; 200,000,000 shares authorized; 110,362,581 and 99,085,888 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	11,000	9,000	8,000	8,000	8,000
Additional paid-in capital	1,003	956	844	799	748
Accumulated other comprehensive income	166,000	261,000	184,000	−5	−943,000
Accumulated deficit	−972	−829	−710	−580	−446
Total stockholders' equity	31	127	134	214	301
Total liabilities and stockholders' equity	293	468	622	788	815

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−143	−119	−130	−133	−36
Depreciation and amortization	6	5	6	6	6
Stock-based compensation	27	39	43	46	41
Amortization of premiums and accretion of discounts on marketable securities	−7	−14	−15	−1	2
Amortization of right-of-use assets	4	3	3	3	2
Amortization of debt discount and debt issuance costs	293,000	—	—	—	—
Impairment loss of right-of-use assets and leasehold improvements	3	2	0	0	0
Prepaid expenses and other current assets	992,000	6	−6	−4	1
Other assets	4	3	−1	−835,000	−3
Accounts payable	−524,000	−1	−377,000	−572,000	2
Accrued liabilities and accrued clinical supply costs	−13	340,000	3	−3	2
Payable to collaboration partner	11	−2	8	0	0
Deferred revenue	−21	−101	−67	66	293
Refund liability to collaboration partner	−50	−46	−25	0	0
Lease liabilities	−7	−6	−5	−4	−4
Other long-term liabilities	503,000	−139,000	614,000	601,000	−314,000
Net cash used in operating activities	−184	−230	−184	−20	299
Purchase of property and equipment	−41,000	−1	−2	−4	−3
Purchase of marketable securities	−272	−468	−552	−557	−343
Maturities of marketable securities	466	574	653	402	286
Sale of marketable securities	3	3	4	0	11
Net cash provided by investing activities	197	107	102	−159	−50
Proceeds from the exercise of options to purchase common stock	15,000	0	1	3	29
Proceeds from issuance of stock from employee stock purchase plan	217,000	1	1	1	2
Proceeds from issuance of common stock, net of issuance costs	20	71	—	—	—
Proceeds from debt financing, net of discount and issuance costs	0	9	0	0	—
Net cash provided by financing activities	20	82	3	5	30
Net increase (decrease) in cash, cash equivalents, and restricted cash	33	−41	−80	−175	279
Interest paid	855,000	0	—	—	—

Filings

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