DealsAug 6, 2026, 04:29 PM
Alector's GSK Collaboration Terminated; Net Loss $22.99M in Q2
AI Summary
Alector, Inc. reported the termination of its collaboration and license agreement with Glaxo Wellcome UK Limited (GSK), effective January 2, 2027, following the discontinuation of key clinical trials. The company also reported a net loss of $22.99 million for the second quarter of 2026 and $45.92 million for the first six months of 2026. Collaboration revenue significantly decreased, and the company's cash and marketable securities declined, leading to a negative stockholders' equity position.
Key Highlights
- GSK terminated collaboration agreement effective January 2, 2027.
- Net loss for Q2 2026 was $22.99 million, compared to $30.52 million in Q2 2025.
- Net loss for six months ended June 30, 2026, was $45.92 million, compared to $70.99 million in 2025.
- Collaboration revenue for Q2 2026 was $3.32 million, down from $7.87 million in Q2 2025.
- Collaboration revenue for six months ended June 30, 2026, was $4.37 million, down from $11.55 million in 2025.
- Cash and cash equivalents decreased to $59.92 million as of June 30, 2026, from $65.80 million at Dec 31, 2025.
- Marketable securities decreased to $112.88 million as of June 30, 2026, from $190.22 million at Dec 31, 2025.
- Total stockholders' equity (deficit) was $(9.97) million as of June 30, 2026, down from $30.65 million at Dec 31, 2025.
Price Impact
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