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ALEC Alector

Alector is a clinical stage biotechnology company pioneering immuno-neurology, a novel therapeutic approach for the treatment of neurodegenerative diseases. The Company is developing a broad portfolio of innate immune system programs, designed to functionally repair genetic mutations that cause dysfunction of the brain's immune system and enable the rejuvenated immune cells to counteract emerging brain pathologies. Immuno-neurology targets immune dysfunction as a root cause of multiple pathologies that are drivers of degenerative brain disorders. The Company's immuno-neurology product candidates are supported by biomarkers and target genetically defined patient populations in frontotemporal dementia and Alzheimer's disease. This scientific approach is also the basis for the Company's immuno-oncology programs.

Company profile

Ticker
ALEC
Exchange
Website
CEO
Arnon Rosenthal
Employees
Incorporated
Location
Fiscal year end
Former names
Alector LLC
SEC CIK
Subsidiaries
Alector LLC ...
IRS number
462702363

ALEC stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

3 Aug 21
20 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Alector earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 127.19M 127.19M 127.19M 127.19M 127.19M 127.19M
Cash burn (monthly) (positive/no burn) (positive/no burn) 18.44M 17.87M 14.85M 15.48M
Cash used (since last report) n/a n/a 68.23M 66.13M 54.94M 57.26M
Cash remaining n/a n/a 58.95M 61.06M 72.25M 69.92M
Runway (months of cash) n/a n/a 3.2 3.4 4.9 4.5

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Oct 21 Arnon Rosenthal Employee Stock Option Common Stock Grant Acquire A No No 23.7 417,213 9.89M 417,213
1 Oct 21 King Robert Common Stock Grant Acquire A No No 0 7,967 0 530,284
1 Oct 21 King Robert Employee Stock Option Common Stock Grant Acquire A No No 23.7 35,635 844.55K 35,635
1 Oct 21 King Robert Common Stock Grant Acquire A No No 0 5,939 0 528,256
23 Sep 21 Elizabeth A. Garofalo Stock Option Common Stock Grant Acquire A No No 24.26 33,235 806.28K 33,235

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

83.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 137 124 +10.5%
Opened positions 30 16 +87.5%
Closed positions 17 28 -39.3%
Increased positions 48 33 +45.5%
Reduced positions 29 44 -34.1%
13F shares
Current Prev Q Change
Total value 1.25B 1.72B -27.6%
Total shares 67.12M 64.27M +4.4%
Total puts 159.3K 159.7K -0.3%
Total calls 229.4K 35.1K +553.6%
Total put/call ratio 0.7 4.5 -84.7%
Largest owners
Shares Value Change
Polaris Venture Partners VI 12.85M $194.48M 0.0%
BLK Blackrock 5.19M $108.02M -1.9%
Vanguard 4.93M $102.72M -4.6%
FHI Federated Hermes 4.54M $94.61M -2.2%
EcoR1 Capital 4.24M $88.37M +604.1%
FMR 4.09M $85.24M +8.9%
MRK Merck & Co 3.55M $0 0.0%
BEN Franklin Resources 3.32M $69.22M +2.0%
STT State Street 2.74M $57.1M +1.0%
JPM JPMorgan Chase & Co. 2.65M $55.11M +1.1%
Largest transactions
Shares Bought/sold Change
EcoR1 Capital 4.24M +3.64M +604.1%
Gilder Gagnon Howe & Co 871.96K -960.73K -52.4%
Ikarian Capital 674.72K +417.22K +162.0%
MS Morgan Stanley 603.56K -344.9K -36.4%
FMR 4.09M +334.3K +8.9%
Citadel Advisors 294.9K +253.61K +614.2%
Vanguard 4.93M -238.22K -4.6%
Two Sigma Advisers 113.5K -207.3K -64.6%
Bridger Management 203.9K +203.9K NEW
Dimensional Fund Advisors 76.07K -197.02K -72.1%

Financial report summary

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Risks
  • Risks Related to Our Business, Financial Condition, and Capital Requirements
  • We are in the early stages of clinical drug development and have a limited operating history and no products approved for commercial sale, which may make it difficult to evaluate our current business and predict our future success and viability.
  • We have incurred significant net losses in each period since our inception and anticipate that we will continue to incur net losses for the foreseeable future.
  • Drug development is a highly uncertain undertaking and involves a substantial degree of risk.
  • We will need to obtain substantial additional financing to complete the development and any commercialization of our product candidates, and a failure to obtain this necessary capital when needed on acceptable terms, or at all, could force us to delay, limit, reduce, or terminate our commercialization efforts, product development, or other operations.
  • Due to the significant resources required for the development of our programs, and depending on our ability to access capital, we must prioritize development of certain product candidates. Moreover, we may expend our limited resources on programs that do not yield a successful product candidate or fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.
  • Risks Related to the Discovery, Development, and Commercialization of Our Product Candidates
  • Research and development of biopharmaceutical products is inherently risky. Our business is heavily dependent on the successful development of our product candidates, which are in various stages of preclinical and clinical development. We cannot give any assurance that any of our product candidates will receive regulatory, including marketing, approval, which is necessary before they can be commercialized.
  • We may not be successful in our efforts to continue to create a pipeline of product candidates from our Discovery Platform or to develop commercially successful products. If we fail to successfully identify and develop additional product candidates from our Discovery Platform, our commercial opportunity may be limited.
  • We may not be successful in our efforts to expand indications for approved product candidates.
  • We have concentrated a substantial portion of our research and development efforts on the treatment of neurodegenerative diseases, a field that has seen limited success in drug development. Further, our product candidates are based on new approaches and novel technology, and we must be able to identify and develop new biomarkers that are signs of a disease or condition and that can measure impact on disease progression of our product candidates, which makes it difficult to predict the time and cost of product candidate development and subsequently obtaining regulatory approval.
  • We may encounter substantial delays in our clinical trials, or may not be able to conduct or complete our clinical trials on the timelines we expect, if at all.
  • We may encounter difficulties enrolling patients in our clinical trials, and our clinical development activities could thereby be delayed or otherwise adversely affected.
  • Our clinical trials may reveal significant adverse events, toxicities, or other side effects and may fail to demonstrate substantial evidence of the safety and efficacy of our product candidates, which would prevent, delay, or limit the scope of regulatory approval and commercialization.
  • We face significant competition in an environment of rapid technological and scientific change, and there is a possibility that our competitors may achieve regulatory approval before us or develop therapies that are safer, more advanced, or more effective than ours, which may negatively impact our ability to successfully market or commercialize any product candidates we may develop and ultimately harm our financial condition.
  • The manufacture of our product candidates is complex, and we may encounter difficulties in production. If we or any of our third-party manufacturers encounter such difficulties, or fail to meet rigorously enforced regulatory standards, our ability to provide supply of our product candidates for clinical trials or our products for patients, if approved, could be delayed or stopped, or we may be unable to maintain a commercially viable cost structure.
  • If, in the future, we are unable to establish sales and marketing capabilities or enter into agreements with third parties to sell and market any product candidates we may develop, we may not be successful in commercializing those product candidates if and when they are approved.
  • Even if any product candidates we develop receive marketing approval, they may fail to achieve the degree of market acceptance by physicians, patients, healthcare payors, and others in the medical community necessary for commercial success.
  • Any products we commercialize may become subject to unfavorable pricing regulations, third-party reimbursement practices, or healthcare reform initiatives, which would harm our business.
  • Our product candidates for which we intend to seek approval may face competition sooner than anticipated.
  • If product liability lawsuits are brought against us, we may incur substantial liabilities and may be required to limit commercialization of our product candidates.
  • Risks Related to Regulatory Approval and Other Legal Compliance Matters
  • The regulatory approval processes of the FDA, EMA, and comparable foreign regulatory authorities are lengthy, time consuming, and inherently unpredictable. If we are ultimately unable to obtain regulatory approval for our product candidates, we will be unable to generate product revenue and our business will be substantially harmed.
  • Our product candidates may cause undesirable side effects or have other properties that could halt their clinical development, prevent their regulatory approval, limit their commercial potential, or result in significant negative consequences.
  • We currently are and may continue in the future to conduct clinical trials for our product candidates outside the United States, and the FDA, EMA, and applicable foreign regulatory authorities may not accept data from such trials.
  • Obtaining and maintaining regulatory approval of our product candidates in one jurisdiction does not mean that we will be successful in obtaining regulatory approval of our product candidates in other jurisdictions.
  • Even if we obtain regulatory approval for a product candidate, our products will remain subject to extensive regulatory scrutiny.
  • We have received orphan drug designation from the FDA for AL001 and AL101 for treatment of FTD and plan to seek orphan drug designation for some of our other product candidates, but we may be unable to obtain such designations or to maintain the benefits associated with orphan drug status, including market exclusivity, which may cause our revenue, if any, to be reduced.
  • We have received Fast Track designation from the FDA for AL001 and AL101 for the treatment of patients with frontotemporal dementia carrying specific genetic mutation in the granulin gene, but we may be unable to obtain or maintain the benefits associated with the Fast Track designation.
  • Healthcare legislative measures aimed at reducing healthcare costs may have a material adverse effect on our business and results of operations.
  • Our employees, independent contractors, consultants, commercial partners, and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • If we fail to comply with healthcare laws, we could face substantial penalties and our business, operations, and financial conditions could be adversely affected.
  • If we or any contract manufacturers and suppliers we engage fail to comply with environmental, health, and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on our business.
  • Our business is subject to complex and evolving U.S. and foreign laws and regulations relating to security, privacy and data protection. These laws and regulations are subject to change and uncertain interpretation, and could result in claims, changes to our business practices, or monetary penalties, and otherwise may harm our business.
  • Inadequate funding for the FDA and other government agencies could hinder our ability to hire and retain key leadership and other personnel, prevent new products and services from being developed or commercialized in a timely manner or otherwise prevent those agencies from performing normal business functions on which the operation of our business may rely, which could negatively impact our business.
  • Our business activities may be subject to the Foreign Corrupt Practices Act (FCPA) and similar anti-bribery and anti-corruption laws.
  • Risks Related to Our Reliance on Third Parties
  • We expect to depend on collaborations with third parties for the research, development, and commercialization of certain of the product candidates we may develop. If any such collaborations are not successful, we may not be able to realize the market potential of those product candidates.
  • We expect to rely on third parties to conduct our clinical trials and some aspects of our research and preclinical testing, and those third parties may not perform satisfactorily, including failing to meet deadlines for the completion of such trials, research, or testing.
  • We contract with third parties for the manufacture of materials for our research programs, preclinical studies, clinical trials, and for commercialization of any product candidates that we may develop. This reliance on third parties carries and may increase the risk that we will not have sufficient quantities of such materials, product candidates, or any medicines that we may develop and commercialize, or that such supply will not be available to us at an acceptable cost, which could delay, prevent, or impair our development or commercialization efforts.
  • We depend on third-party suppliers for key raw materials used in our manufacturing processes, and the loss of these third-party suppliers or their inability to supply us with adequate raw materials could harm our business.
  • Risks Related to Our Intellectual Property
  • If we are unable to obtain and maintain patent protection for any product candidates we develop, our competitors could develop and commercialize products similar or identical to ours, and our ability to successfully commercialize any product candidates we may develop may be adversely affected.
  • If any of our patent applications, or those of our collaborators, do not issue as patents in any jurisdiction, we may not be able to compete effectively.
  • If the scope of any patent protection we obtain is not sufficiently broad, or if we lose any of our patent protection, our ability to prevent our competitors from commercializing similar or identical technology and product candidates would be adversely affected.
  • Our rights to develop and commercialize our product candidates are subject, in part, to the terms and conditions of agreements with others.
  • If we fail to comply with our obligations in the agreements under which we option or license intellectual property rights from our collaborators or future licensors or otherwise experience disruptions to our business relationships with our collaborators or future licensors, we could lose intellectual property rights that are important to our business.
  • We may not be able to protect our intellectual property and proprietary rights throughout the world.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment, and other requirements imposed by government patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Changes in U.S. patent law could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • Issued patents covering our product candidates and other technologies could be found invalid or unenforceable if challenged in court or before administrative bodies in the United States or abroad.
  • If we do not obtain patent term extension and data exclusivity for any product candidates we may develop, our business may be materially harmed.
  • We may be subject to claims challenging the inventorship of our patents and other intellectual property.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • We may not be successful in obtaining, through acquisitions or otherwise, necessary rights to our product candidates or other technologies.
  • We may be subject to claims that our employees, consultants, or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers or claims asserting ownership of what we regard as our own intellectual property.
  • Third-party claims of intellectual property infringement, misappropriation, or other violation against us or our collaborators may prevent or delay the development and commercialization of our product candidates and other technologies.
  • We may become involved in lawsuits to protect or enforce our patents and other intellectual property rights, which could be expensive, time consuming, and unsuccessful.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • Intellectual property rights do not necessarily address all potential threats.
  • Risks Related to Our Operations
  • We are highly dependent on our key personnel, and if we are not successful in attracting, motivating, and retaining highly qualified personnel, we may not be able to successfully implement our business strategy.
  • We will need to grow the size and capabilities of our organization, and we may experience difficulties in managing this growth.
  • We have engaged in strategic collaborations and may in the future engage in acquisitions, collaborations, or strategic partnerships, which may increase our capital requirements, dilute our stockholders, cause us to incur debt or assume contingent liabilities, and subject us to other risks.
  • Our internal computer systems, or those used by our third-party research institution collaborators, CROs or other contractors or consultants, may fail or suffer other breakdowns, cyberattacks, or information security breaches that could compromise the confidentiality, integrity, and availability of such systems and data, result in material disruptions of our development programs and business operations, risk disclosure of confidential, financial, or proprietary information, and affect our reputation.
  • Our business is subject to economic, political, regulatory, and other risks associated with international operations.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • An active trading market for our common stock may not be sustained.
  • The market price of our common stock may continue to be volatile, which could result in substantial losses for investors.
  • If securities analysts do not publish research or reports about our business or if they publish negative evaluations of our stock, the price of our stock could decline.
  • Sales of substantial amounts of our common stock in the public markets, or the perception that such sales might occur, could cause the market price of our common stock to decline significantly, even if our business is doing well.
  • Raising additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights to our technologies or product candidates.
  • Our principal stockholders and management own a significant percentage of our stock and will be able to exercise significant influence over matters subject to stockholder approval.
  • We have incurred and will continue to incur significant additional costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.
  • If we are unable to maintain effective internal controls, our business, financial position, and results of operations could be adversely affected.
  • We do not expect to pay any dividends for the foreseeable future. Investors may never obtain a return on their investment.
  • Delaware law and provisions in our amended and restated certificate of incorporation and bylaws might discourage, delay, or prevent a change in control of our company or changes in our management and, therefore, depress the trading price of our common stock.
  • Our amended and restated bylaws provide that the Court of Chancery of the State of Delaware is the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
New words: age, antitrust, atrophy, attribution, Biden, billion, bioresearch, blinded, cap, Carlo, CDR, Circuit, consummation, cortex, curve, customary, dismissing, durable, elevating, enlargement, freeze, FTLD, GENFI, Glaxo, GlaxoSmithKline, GSK, HSR, jointly, longitudinal, matched, matching, midpoint, monoclonal, Monte, month, MRI, NACC, peer, persist, plc, propensity, refined, remote, requisite, Rescue, resurgence, SB, score, simulation, standing, subsidiary, Treasury, twelve, ventricular, Volumetric, weight, Wellcome
Removed: Abeliovich, advancing, announced, Asa, deficiency, Liquidity, mission, prioritized, repeal, responsibility, reversing, September, strain, transformative, transitioned, Trump

Patents

GRANT
Utility
Siglec transgenic mice and methods of use thereof
19 Oct 21
Provided herein are transgenic non-human animals whose genomes comprise two or more human genes selected from CD33, Siglec-5, Siglec-7, Siglec-9, Siglec-11, Siglec-14, and Siglec-16, to methods of screening candidate agents that bind to and/or modulate the function and/or activity of at least one of the human genes in the transgenic non-human animals, and to methods of screening candidate agents to determine their effect on one or more activities and/or functions associated with expression of at least one of the human genes in the transgenic non-human animals.
APP
Utility
ANTI-CD33 Antibodies and Methods of Use Thereof
14 Oct 21
The present disclosure is generally directed to compositions that include antibodies, e.g., monoclonal, antibodies, antibody fragments, etc., that specifically bind a CD33 polypeptide, e.g., a mammalian CD33 or human CD33, and use of such compositions in preventing, reducing risk, or treating an individual in need thereof.
GRANT
Utility
Anti-CD33 antibodies and methods of use thereof
5 Oct 21
The present disclosure is generally directed to compositions that include antibodies, e.g., monoclonal, chimeric, humanized antibodies, antibody fragments, etc., that specifically bind one or more epitopes within a CD33 protein, e.g., human CD33 or a mammalian CD33, and use of such compositions in preventing, reducing risk, or treating an individual in need thereof.
APP
Utility
SIGLEC-9 Ecd Fusion Molecules and Methods of Use Thereof
16 Sep 21
The present disclosure is generally directed to Siglec-9 ECDs and Siglec-9 ECD fusion molecules, and methods of treatment using Siglec-9 ECDs and Siglec-9 ECD fusion molecules.
APP
Utility
Anti-SIRP-Beta1 Antibodies and Methods of Use Thereof
9 Sep 21
The present disclosure is generally directed to compositions that include antibodies, e.g., monoclonal, antibodies, antibody fragments, etc., that specifically bind a SIRPβ1 polypeptide, e.g., a human SIRPβ1, and use of such compositions in preventing, reducing risk, or treating an individual in need thereof.