Clinical TrialMay 7, 2026, 04:21 PM
Alector Discontinues Phase 2 AD Trial; Q1 Net Loss $22.9M
AI Summary
Alector, Inc. announced the discontinuation of its PROGRESS-AD Phase 2 clinical trial for nivisnebart (AL101/GSK4527226) in early Alzheimer's disease following an interim futility analysis. Concurrently, the company reported a net loss of $22.9 million for Q1 2026, an improvement from $40.5 million in Q1 2025. Alector's cash, cash equivalents, and investments totaled $206.5 million as of March 31, 2026, providing a runway at least through 2027. The company is now prioritizing its Alector Brain Carrier (ABC) platform and its pipeline of ABC-enabled programs for neurodegenerative diseases.
Key Highlights
- Discontinued PROGRESS-AD Phase 2 clinical trial for nivisnebart (AL101/GSK4527226) in early AD due to futility.
- Reported Q1 2026 net loss of $22.9 million, or $0.21 per share, compared to $40.5 million in Q1 2025.
- Q1 2026 collaboration revenue was $1.0 million, down from $3.7 million in Q1 2025.
- Q1 2026 R&D expenses decreased to $17.9 million from $33.6 million in Q1 2025.
- Cash, cash equivalents, and investments totaled $206.5 million as of March 31, 2026.
- Cash position provides runway at least through 2027.
- Advancing AL037/AL137 (ABC-enabled anti-Aβ antibody) for AD, targeting IND submission in Q1 2027.