Alector, Inc. Files 8-K on Exit Costs and Disclosures

Ticker: ALEC · Form: 8-K · Filed: 2024-11-25T00:00:00.000Z

Sentiment: neutral

Topics: 8-k, disposal-activities, financials

TL;DR

ALEC filing 8-K: Exit costs, Reg FD, financials. What's going on?

AI Summary

On November 25, 2024, Alector, Inc. filed an 8-K report detailing cost associated with exit or disposal activities. The filing also included Regulation FD disclosures and financial statements and exhibits. The company is incorporated in Delaware and its principal executive offices are located in South San Francisco, California.

Why It Matters

This filing indicates potential restructuring or divestiture activities within Alector, Inc., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Disclosures about exit or disposal activities can signal significant business changes that may carry financial and operational risks.

Key Players & Entities

FAQ

What specific activities are associated with the 'Cost Associated with Exit or Disposal Activities'?

The filing does not specify the exact nature of the exit or disposal activities, but it is reported under Item 2.05 of the 8-K.

What is the purpose of the Regulation FD Disclosure mentioned in the filing?

The Regulation FD Disclosure (Item 7.01) is included to ensure that material non-public information is broadly disseminated to the public, preventing selective disclosure.

What financial statements and exhibits are included with this 8-K filing?

The filing indicates that Financial Statements and Exhibits are included as Item 9.01, but the specific contents are not detailed in the provided text.

When was Alector, Inc. formerly known as Alector LLC, and when did the name change occur?

Alector, Inc. was formerly known as Alector LLC, with the date of the name change being September 15, 2015.

What is Alector, Inc.'s Standard Industrial Classification (SIC) code and industry?

Alector, Inc.'s SIC code is 2836, which corresponds to the 'BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES)' industry.

From the Filing

0000950170-24-130564.txt : 20241125 0000950170-24-130564.hdr.sgml : 20241125 20241125161007 ACCESSION NUMBER: 0000950170-24-130564 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20241125 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241125 DATE AS OF CHANGE: 20241125 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38792 FILM NUMBER: 241495966 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 8-K 1 alec-20241125.htm 8-K 8-K 0001653087 false 0001653087 2024-11-25 2024-11-25   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): November 25, 2024     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 2.05 Costs Associated with Exit or Disposal Activities. On November 25, 2024, Alector, Inc. (“Alector” or “the Company”) committed to a plan to reduce its workforce (the “Plan”) by approximately 17% in order to align resources with the Company's strategic priorities. Based upon the results of the Company's INVOKE-2 Phase 2 clinical trial evaluating the safety and efficacy of AL002 in early Alzheimer’s disease, the Company is stopping the long term extension of the INVOKE-2 study. The Company initiated a reduction in force impacting approximately 41 emp

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