Alector reports Q3 net income $126.6M ($1.56/share) vs loss year-ago; GSK collaboration boosts revenue

Alector, Inc.

2021-Q3 EPS reported $0.23 revenue$193,091,000

Collaboration revenue $182.4M (vs $5.9M YoY) driven by $500M upfront from GSK deal.
Cash, cash equivalents & marketable securities $777.9M as of Sep 30, 2021.
Initiated Phase 2 trial of AL001 in ALS patients with C9orf72 mutation; primary endpoint safety & PK/PD.
Sam Jackson, M.D., appointed interim CMO; Linda Rubinstein interim CFO; Elizabeth Garofalo, M.D. joins board.
Net income $126.6M ($1.56 diluted EPS) compared to net loss $52.7M ($0.67 loss) in Q3 2020.

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