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H alector Alector Reports Third Quarter 2021 Financial Results November 4 , 2021 Initiated Phase 2 Clinical Trial of AL001 for the Treatment of Amyotrophic Lateral Sclerosis Executed a Global Collaboration with GSK to Co - development and Co - commercialize Alector's Progranulin Franchise Molecules for the Treatment of a Range of Neurodegenerative Diseases SOUTH SAN FRANCISCO , Calif . , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Alector , Inc. ( Nasdaq : ALEC ) , a clinical - stage biotechnology company pioneering immuno - neurology , today reported third quarter 2021 financial results and summarized recent portfolio and business updates . As of September 30 , 2021 , Alector's cash , cash equivalents and investments totaled $ 777.9 million . " During the third quarter , Alector reached a significant inflection point , validating our immuno - neurology approach and advancing our lead programs as we strive to help patients with neurodegenerative diseases , " said Arnon Rosenthal , Ph.D. , co - founder and Chief Executive Officer of Alector . " We reported 12 - month Phase 2 data for our lead therapeutic candidate , AL001 , in which progranulin levels in frontotemporal dementia patients reverted to normal , and for the first time , showed encouraging early evidence of a slowing of disease progression across diverse datapoints . The signing of a collaborative agreement with GSK will further enable us to develop our progranulin franchise programs to their full potential in frontotemporal dementia , amyotrophic lateral sclerosis , Parkinson's disease and Alzheimer's disease . These achievements , alongside steady progress across our portfolio , are moving us ever closer to realizing our mission of harnessing the innate immune system to halt the destruction of neurodegenerative diseases . " Clinical Updates Progranulin Franchise • In September , Alector initiated a Phase 2 clinical trial of AL001 in amyotrophic lateral sclerosis ( ALS ) patients with a C9orf72 genetic mutation . The six - month , randomized , double - blind , placebo - controlled , multicenter study is expected to enroll approximately 45 adult participants with C9orf72 - associated ALS . The primary endpoint of the study is safety , tolerability , pharmacokinetics and pharmacodynamics of AL001 , including plasma and cerebrospinal fluid ( CSF ) progranulin levels . The Phase 2 will also gather data on changes to multiple liquid biomarkers . ALS is the first of several indications beyond frontotemporal dementia where elevating progranulin levels is thought to have potential neuroprotective benefits . • AL001 received orphan drug designation from the European Commission for the treatment of frontotemporal dementia . Orphan drug designation in the EU may be granted for medicines in development for debilitating or life - threatening conditions that affect fewer than five in 10,000 people in the EU and provides benefits to the sponsor such as protocol assistance , reduced regulatory fees and extended market exclusivity . AL001 has previously received Fast Track and Orphan Drug designations from the U.S. Food and Drug Administration . • Twelve - month data from the open - label INFRONT - 2 Phase 2 clinical trial of AL001 in patients with frontotemporal dementia with a progranulin mutation ( FTD - GRN ) were presented at the Alzheimer's Association International Conference ( AAIC ) held in July 2021. AL001 showed a favorable safety profile , successful elevation of progranulin levels and encouraging evidence that treatment may slow disease progression . ( 1 ) • In July , 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 FTD , ALS , Alzheimer's disease and Parkinson's disease . Under the terms of the agreement , Alector will receive $ 700 million in upfront payments , $ 500 million of which was received in August 2021 with a second payment to occur in the first quarter of 2022 . Alzheimer's Disease Portfolio • Two posters were presented at the 2021 AAIC for Alector's AL002 program providing data from a Phase 1 study in healthy volunteers and details on the design of the ongoing INVOKE - 2 Phase 2 clinical trial . AL002 is Alector's first - in - class monoclonal antibody that binds to the TREM2 receptor to optimize microglial activity in the brain . Alector is developing AL002 as a potential treatment for Alzheimer's disease in collaboration with AbbVie . Corporate News • Sam Jackson , M.D. , MBA , and Linda Rubinstein joined Alector's executive leadership team assuming the roles of interim