Alector reports Q2 net income $1.4M, cash $630M; updates clinical trial timelines

Alector, Inc.

2023-Q2 EPS reported -$0.53 revenue$72,763,000

Q2 2023 revenue $56.2M (down 30% YoY); net income $0.02 EPS vs $0.12 EPS in Q2 2022.
Cash, equivalents & investments $630M, expected to fund operations through 2025.
Guidance updated: 2023 collaboration revenue $90-100M (up), R&D $210-220M (down), G&A $60-65M.
Invoke-2 Phase 2 (AL002) enrollment completion Q3 2023; data readout Q4 2024.
INFRONT-3 pivotal trial enrollment completion expected Q4 2023; primary analysis on ~90-100 symptomatic FTD-GRN participants.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Alector, Inc. reported the quarter ended June 30, 2023 results: revenue $56.2 million.

Period: the quarter ended June 30, 2023
Revenue: $56.2 million
Result: reported results

Exact text from the filing

quarter of 2023 covering AL002 compositions and methods of use. Second Quarter 2023 Financial Results Revenue. Collaboration revenue for the quarter ended June 30, 2023, was $56.2 million, compared to $79.9 million for the same period in 2022. The $23.6 million decrease was mainly due to $68.9 million of collaboration revenue recognized in the second quarter of

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Source: SEC EDGAR

accession 0000950170-23-037982

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