Alector Q2 net loss narrows to $23M; cash runway through 2027; AL137 IND targeted Q1 2027

Alector, Inc.

Net loss of $23.0M ($0.21/share) vs $30.5M ($0.30/share) in Q2 2025; revenue $3.3M (down from $7.9M).
Cash, equivalents, and investments $172.8M as of June 30, 2026; runway at least through 2027.
Lead ABC-enabled anti-Aβ antibody AL137 selected; IND submission targeted Q1 2027 with first-in-human dosing in Australia by April 2027.
Tau siRNA program AL064/AL164 advancing into IND-enabling studies; AL050 GCase ERT for PD in preclinical development.
R&D expenses fell to $19.5M from $27.6M; G&A expenses fell to $8.3M from $14.4M, driven by workforce reductions.

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