Alector, Inc. (ALEC) Earnings
Alector, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $-0.23. ALEC has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +26.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.35 | $-0.21 | +40.0% | $1M | -89.2% |
| Feb 25, 2026 | $-0.39 | $-0.34 | +12.8% | $6M | +218.6% |
| Nov 6, 2025 | $-0.42 | $-0.34 | +19.0% | $3M | +82.8% |
| Aug 7, 2025 | $-0.45 | $-0.30 | +33.3% | $8M | +180.7% |
| May 8, 2025 | $-0.44 | $-0.41 | +6.8% | $4M | -13.6% |
| Feb 26, 2025 | $-0.61 | $-0.02 | +96.7% | $54M | +165.8% |
| May 8, 2024 | $-0.48 | $-0.38 | +20.8% | $16M | +7.4% |
| Feb 27, 2024 | $-0.80 | $-0.49 | +38.8% | $15M | +57.6% |
| Aug 3, 2023 | $-0.82 | $0.02 | +102.4% | $56M | +1277.8% |
| May 4, 2023 | $-0.75 | $-0.55 | +26.7% | $17M | +107.9% |
| Feb 28, 2023 | $-0.54 | $-0.63 | -16.7% | $14M | -52.1% |
| Aug 4, 2022 | $-0.47 | $0.12 | +125.5% | $80M | +159.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2025 · August 9, 2025
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Arnon Rosenthal highlighted the upcoming INFRONT-3 trial data readout mid-Q4 2025 for latozinemab in FTD-GRN, noting collaboration with GSK on launch readiness. - Dr. Sara Kenkare-Mitra spoke about the ABC platform for efficient brain delivery of therapeutic modalities. - Giacomo Salvadore detailed the INFRONT-3 trial, including the addition of plasma progranulin as a co-primary endpoint per FDA request, and the well-tolerated nature of latozinemab. - Neil Berkley provided financial guidance, stating collaboration revenue expected between $13M and $18M, R&D between $130M and $140M, G&A between $55M and $65M, with $307.3M cash on hand.
Guidance
- Collaboration revenue is anticipated to be between $13 million and $18 million. - Research and development guidance is between $130 million and $140 million. - General and administrative guidance is between $55 million and $65 million. - $307.3 million in cash provides runway into the second half of 2027.
Segment performance
No specific product segment financial performance discussed in detail; focus is on clinical programs and pipeline.
Risks & headwinds
- Diagnostic complexity in frontotemporal dementia (FTD), including frequent misdiagnosis or late diagnosis. - Trial design challenges due to variable symptoms in FTD, making it hard to track disease progression. - Urgent need for disease-modifying therapies, especially in genetic subtypes like FTD-GRN.
Analyst Q&A
Q: Clarify on the statistical analysis plan change and ABC platform.
A: Giacomo Salvadore said the change to include progranulin as a co-primary endpoint was in response to FDA request; Sara Kenkare-Mitra noted ABC platform lead programs depend on transferrin-mediated process.
Q: Why did FDA reviewer request plasma progranulin and clinical benefit in Alzheimer's?
A: FDA requested progranulin inclusion as it's mechanistically meaningful; Arnon Rosenthal said restoring progranulin levels could support Alzheimer's potential.
Q: Impact of SAP change on INFRONT-3 power and progranulin in labeling?
A: Arnon Rosenthal said power for CDR sum of boxes unchanged, and no discussion on progranulin in labeling yet.
Q: FDA's progranulin threshold and study power?
A: Arnon Rosenthal said FDA didn't specify threshold, study is 90% powered for 40% disease progression slowdown.
Q: Thoughts on progranulin restoration in FTD and ARIA risk?
A: Arnon Rosenthal said restoring to normal levels shows intervention can impact, Giacomo Salvadore said ARIA not observed in INFRONT-3.
Q: Approval chances if progranulin hits but clinical data equivocal?
A: Arnon Rosenthal said would pursue full approval if data supports, citing regulatory precedents in CNS diseases.
Q: Presymptomatic patients and OLE progression?
A: Arnon Rosenthal said primary analysis on symptomatic patients, OLE progression details not disclosed but shows persistence of benefit potential.