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ALECTOR Alector Reports Second Quarter 2021 Financial Results August 3 , 2021 Presented twelve - month data from ongoing AL001 open - label Phase 2 study in FTD - GRN at the 2021 Alzheimer's Association International Conference ( AAIC ) Announced global collaboration with GSK to co - develop and co - commercialize progranulin - elevating monoclonal antibodies , AL001 and AL101 , for a range of neurodegenerative diseases SOUTH SAN FRANCISCO , Calif . , Aug. 03 , 2021 ( GLOBE NEWSWIRE ) -- Alector , Inc. ( Nasdaq : ALEC ) , a clinical - stage biotechnology company pioneering immuno - neurology , today reported financial results for the second quarter 2021. As of June 30 , 2021 , Alector's cash , cash equivalents and investments totaled $ 319.6 million . " With the recent presentation of encouraging Phase 2 data for our lead program , AL001 in people with FTD- GRN , at the Alzheimer's Association International Conference and our announcement of a significant collaboration with GlaxoSmithKline to expand and accelerate the development of AL001 and AL101 , we move much closer to realizing the vast potential of our progranulin franchise programs , " said Arnon Rosenthal , Ph.D. , co - founder and chief executive officer of Alector . " Our earlier - stage pipeline is also steadily progressing and based on our immuno - neurology expertise and insights into human genetics , we continue working to advance new programs to the clinic , all with the aim of halting the degeneration associated with serious neurological disease . " Clinical and Corporate Updates Progranulin Franchise Portfolio • Twelve - month data from up to twelve patients with frontotemporal dementia with a progranulin mutation ( FTD - GRN ) from the open - label INFRONT - 2 Phase 2 clinical trial of AL001 were presented at the 2021 Alzheimer's Association International Conference ( AAIC ) . o Once monthly treatment with 60mg / kg of AL001 was shown to have a favorable safety profile and resulted in sustained elevation of progranulin to normal levels for greater than one year . o Clinical outcome assessments of AL001 - treated patients showed slowing of clinical progression by 47 % compared to a matched control cohort of participants from the Genetic FTD Initiative ( GENFI2 ) . Additionally , multiple disease relevant biomarkers of lysosomal function , complement activation and neuronal health trended toward normalization or remained stable , suggesting that treatment with AL001 may slow disease progression . ( 1 ) • Alector and GlaxoSmithKline ( GSK ) entered into a global collaboration to co - develop and co - commercialize AL001 and AL101 for the treatment of neurodegenerative diseases , including FTD - GRN , as well as other forms of frontotemporal dementia , amyotrophic lateral sclerosis ( ALS ) , Alzheimer's disease and Parkinson's disease . o The collaboration brings together Alector's leading immuno - neurology expertise with GSK's commitment to immunology and human genetics , proven drug development capabilities and global footprint , to help expand and accelerate the development of AL001 and AL101 into large indications . o Under the terms of the agreement , Alector will receive $ 700 million in upfront payments . Alector will also be eligible for up to $ 1.5 billion in potential development , regulatory and commercial launch milestone payments , as well as profit - sharing in the U.S. and royalties on any ex - U.S . sales . • Alector is actively enrolling the Phase 3 INFRONT - 3 pivotal clinical study of AL001 in at - risk and symptomatic carriers of frontotemporal dementia with a progranulin mutation . An ongoing Phase 2 study in frontotemporal dementia includes a cohort of patients with a C9orf72 mutation , and there are plans to begin testing AL001 in amyotrophic lateral sclerosis ( ALS ) patients with a C9orf72 mutation in the second half of 2021. AL101 , Alector's second progranulin - elevating monoclonal antibody , is designed to treat people suffering from more prevalent neurodegenerative diseases and is currently in a Phase 1a study in healthy volunteers . Alzheimer's Disease Portfolio • Two posters were presented at the 2021 AAIC for Alector's AL002 program targeting TREM2 . TREM2 loss of function is associated with a three - fold increase in the risk of developing Alzheimer's disease ( 2 ) . AL002 is Alector's first - in - class anti - TREM2 monoclonal antibody that is being developed in collaboration with AbbVie in a global Phase 2 study . o The first poster detailed results of the AL002 Phase 1 study in healthy volunteers . AL002 was generally well tolerated and demonstrated dose - dependent and robust target engagement in the brain . o A second poster reviewed the study design of the ongoing Phase 2 INVOKE - 2 trial in people with early Alzheimer's disease . The global , multi - center , double - blind Phase 2 clinical trial is enrolling approximately 265 patients