Alector Q2 net loss $38.7M vs $1.4M income YoY; cash $503M, INVOKE-2 data on track for Q4 2024

Alector, Inc.

2024-Q2 EPS reported -$0.78 revenue$30,976,000

Net loss of $38.7M ($0.40 per share) compared to net income of $1.4M in Q2 2023.
Revenue fell to $15.1M from $56.2M YoY, primarily due to contract modifications on AL101 and AL002 programs.
Cash, cash equivalents and investments total $503.3M, expected to fund operations through 2026.
INVOKE-2 Phase 2 data for AL002 in early Alzheimer's disease anticipated in Q4 2024.
FDA feedback supports potential path to approval for latozinemab in FTD-GRN using biomarkers as confirmatory evidence.

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