Alector Files 10-Q: Financials and Partner Updates
Ticker: ALEC · Form: 10-Q · Filed: 2024-05-08T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, biotech, partnerships
TL;DR
Alector's Q1 2024 10-Q is in. Financials look stable, and GSK/AbbVie partnerships are still key.
AI Summary
Alector, Inc. filed its 10-Q for the period ending March 31, 2024. The company reported its financial position and results of operations. Key financial data includes accumulated other comprehensive income and retained earnings as of various dates in 2023 and 2024. The filing also references agreements with AbbVie Biotechnology Limited and GSK.
Why It Matters
This filing provides investors with a quarterly update on Alector's financial health and operational progress, including details on its collaborations with major pharmaceutical companies.
Risk Assessment
Risk Level: medium — Biotech companies like Alector are inherently risky due to the long and uncertain drug development process and reliance on partnerships.
Key Numbers
- 2024-03-31 — Reporting Period End Date (Indicates the latest financial snapshot provided.)
- 2023-03-31 — Prior Year Period End Date (Allows for year-over-year comparison of financial performance.)
- 2022-12-31 — Previous Fiscal Year End Date (Provides context for the current quarter's financial results.)
Key Players & Entities
- Alector, Inc. (company) — Filer of the 10-Q
- March 31, 2024 (date) — End of reporting period
- AbbVie Biotechnology Limited (company) — Partner mentioned in filing
- GSK (company) — Partner mentioned in filing
FAQ
What were Alector's total revenues for the quarter ended March 31, 2024?
The provided text does not contain specific revenue figures for the quarter ended March 31, 2024.
What is the current status of Alector's collaboration with GSK?
The filing mentions GSK in relation to dates like May 31, 2023, and August 17, 2021, suggesting ongoing or past collaboration, but specific details on current status are not in the provided snippet.
How much cash and marketable securities did Alector have as of March 31, 2024?
The filing indicates 'alec:CashEquivalentsAndMarketableSecuritiesMember' and 'us-gaap:FairValueMeasurementsRecurringMember' for March 31, 2024, but the specific dollar amount is not present in the provided text.
What was Alector's net loss for the quarter ended March 31, 2024?
The provided text does not include information on Alector's net loss for the specified period.
Are there any significant updates regarding Alector's pipeline candidates mentioned in this filing?
The provided text focuses on financial data and partner mentions, not specific pipeline candidate updates.
From the Filing
0000950170-24-055682.txt : 20240508 0000950170-24-055682.hdr.sgml : 20240508 20240508161540 ACCESSION NUMBER: 0000950170-24-055682 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 48 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240508 DATE AS OF CHANGE: 20240508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Alector, Inc. CENTRAL INDEX KEY: 0001653087 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 822933343 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-38792 FILM NUMBER: 24926298 BUSINESS ADDRESS: STREET 1: 131 OYSTER POINT BLVD., SUITE 600 CITY: SOUTH SAN FRANCISCO STATE: CA ZIP: 94080 BUSINESS PHONE: 415-231-5660 MAIL ADDRESS: STREET 1: 131 OYSTER POINT BLVD., SUITE 600 CITY: SOUTH SAN FRANCISCO STATE: CA ZIP: 94080 FORMER COMPANY: FORMER CONFORMED NAME: Alector LLC DATE OF NAME CHANGE: 20150915 10-Q 1 alec-20240331.htm 10-Q 10-Q 0001653087 false Q1 --12-31 0001653087 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001653087 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0001653087 alec:AbbVieBiotechnologyLimitedMember 2023-12-31 0001653087 srt:MinimumMember alec:GskMember 2023-05-31 0001653087 alec:ChangeInEstimateMember alec:GskMember 2024-03-31 0001653087 alec:GskMember 2024-03-31 0001653087 alec:CashEquivalentsAndMarketableSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-03-31 0001653087 us-gaap:CommonStockMember 2023-03-31 0001653087 us-gaap:RetainedEarningsMember 2022-12-31 0001653087 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001653087 us-gaap:OverAllotmentOptionMember 2024-01-19 2024-01-19 0001653087 alec:GskMember 2021-08-17 2021-08-17 0001653087 alec:AbbVieBiotechnologyLimitedMember 2023-03-01 2023-03-31 0001653087 alec:GskMember 2023-05-01 2023-05-31 0001653087 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001653087 2023-03-31 0001653087 alec:GskMember 2023-09-30 0001653087 us-gaap:RetainedEarningsMember 2023-03-31 0001653087 alec:AbbVieBiotechnologyLimitedMember 2017-10-01 2017-10-31 0001653087 us-gaap:CommonStockMember 2022-12-31 0001653087 us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001653087 us-gaap:OverAllotmentOptionMember 2024-01-19 0001653087 alec:AbbVieBiotechnologyLimitedMember 2018-01-01 2018-01-31 0001653087 us-gaap:RevenueFromContractWithCustomerMember alec:AbbVieBiotechnologyLimitedMember 2023-01-01 2023-03-31 0001653087 us-gaap:RetainedEarningsMember 2024-03-31 0001653087 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001653087 alec:AbbVieBiotechnologyLimitedMember 2023-01-01 2023-03-31 0001653087 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateBondSecuritiesMember 2023-12-31 0001653087 us-gaap:RetainedEarningsMember 2023-12-31 0001653087 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2023-12-31 0001653087 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-31 0001653087 us-gaap:GeneralAndAdministrativeExpenseMember 2024-01-01 2024-03-31 0001653087 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001653087 2023-12-31 0001653087 alec:RestrictedStockAwardsAndRestrictedStockUnitsMember 2023-01-01 2023-03-31 0001653087 us-gaap:ResearchAndDevelopmentExpenseMember 2023-01-01 2023-03-31 0001653087 us-gaap:EmployeeStockMember 2024-01-01 2024-03-31 0001653087 alec:GskMember 2023-12-31 0001653087 alec:GskMember 2023-01-01 2023-03-31 0001653087 us-gaap:EmployeeStockOptionMember 2024-01-01 2024-03-31 0001653087 alec:GskMember 2021-07-01 2021-07-01 0001653087 srt:MaximumMember alec:GskMember 2024-03-31 0001653087 us-gaap:EmployeeStockMember 2023-01-01 2023-03-31 0001653087 alec:AlectorMember 2024-01-01 2024-03-31 0001653087 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember alec:CertificateOfDepositMember 2023-12-31 0001653087 us-gaap: