Alector, Inc. ALEC
We are a clinical-stage biotechnology company developing therapies for neurodegenerative diseases, with a focus on areas of high unmet medical need. Our work is informed by advances in disease biology, including the roles of misfolded or deficient proteins, lysosomal dysfunction, and immune and neuronal pathway disruption.
Our objective is to develop product candidates that address disease through targeted mechanisms, such as removing pathogenic proteins, replacing deficient proteins, and restoring normal cellular function. We are advancing a portfolio of programs focused on genetically validated targets, supported by our expertise in drug development, protein engineering, and antibody discovery.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.0M | $100.6M | $97.1M | $133.6M | $207.1M | $21.1M | $21.2M | $27.5M | $2.9M | — |
| R&D | $123.1M | $185.9M | $192.1M | $210.4M | $189.4M | $156.9M | $100.5M | $73.0M | $29.9M | — |
| SG&A | $54.0M | $59.6M | $56.7M | $61.0M | $55.0M | $59.4M | $35.1M | $11.9M | $6.5M | — |
| Total operating expenses | $177.1M | $245.6M | $248.8M | $271.5M | $244.4M | $216.3M | $135.6M | $85.0M | $36.4M | — |
| Operating income | -$156.0M | -$145.0M | -$151.7M | -$137.8M | -$37.4M | -$195.2M | -$114.4M | -$57.3M | -$32.7M | — |
| Pre-tax income | -$142.8M | -$118.9M | -$125.1M | -$130.1M | -$36.3M | -$190.2M | -$105.4M | — | — | — |
| Income tax | $168.0K | $128.0K | $5.2M | $3.3M | $0 | $0 | $0 | — | — | — |
| Net income | -$143.0M | -$119.0M | -$130.0M | -$133.3M | -$36.3M | -$190.2M | -$105.4M | -$52.2M | -$32.5M | — |
| EPS, basic | -1.39 | -1.23 | -1.56 | -1.62 | -0.45 | -2.45 | — | — | — | — |
| EPS, diluted | -1.39 | -1.23 | -1.56 | -1.62 | -0.45 | -2.45 | -1.71 | -4.62 | -3.55 | — |
| Shares, diluted (wtd. avg.) | 103.0M | 96.6M | 83.7M | 82.5M | 80.4M | 77.8M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $65.8M | $33.0M | $76.1M | $155.8M | $330.6M | $51.4M | $91.1M | $66.9M | $32.5M | $51.0M |
| Short-term investments | $190.2M | $380.4M | $474.3M | $558.5M | $406.1M | $363.3M | $263.4M | $224.9M | — | — |
| Total current assets | $266.5M | $424.8M | $565.8M | $726.4M | $749.7M | $421.5M | $357.4M | $293.2M | — | — |
| Property, plant and equipment | $10.8M | $17.1M | $21.9M | $25.5M | $27.3M | $30.2M | $33.9M | $10.9M | — | — |
| Total assets | $293.2M | $468.3M | $621.8M | $787.6M | $814.7M | $488.3M | $421.9M | $308.4M | — | — |
| Accounts payable | $1.7M | $2.2M | $3.8M | $4.2M | $4.7M | $3.0M | $278.0K | $126.0K | — | — |
| Short-term debt | $366.0K | $0 | — | — | — | — | — | — | — | — |
| Total current liabilities | $69.5M | $125.1M | $177.9M | $93.8M | $139.6M | $68.1M | $62.0M | $47.9M | — | — |
| Long-term debt | $9.3M | $9.4M | $0 | — | — | — | — | — | — | — |
| Total liabilities | $262.6M | $341.5M | $487.7M | $573.2M | $513.9M | $220.7M | $227.2M | $195.2M | — | — |
| Retained earnings | -$972.1M | -$829.1M | -$710.1M | -$579.7M | -$446.4M | -$410.0M | -$219.8M | -$114.4M | — | — |
| Total equity | $30.6M | $126.8M | $134.2M | $214.4M | $300.7M | $267.5M | $194.7M | -$97.4M | -$52.0M | -$24.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$184.0M | -$229.9M | -$184.2M | -$20.3M | $298.6M | -$166.7M | -$99.3M | $127.5M | -$17.8M | — |
| Stock-based compensation | $26.7M | $39.5M | $42.8M | $46.1M | $40.8M | $30.5M | $16.3M | $6.9M | $5.4M | — |
| Capital expenditure | $41.0K | $1.3M | $2.4M | $4.1M | $3.2M | $5.0M | $15.3M | $1.9M | $801.0K | — |
| Investing cash flow | $196.6M | $107.1M | $101.9M | -$159.0M | -$49.7M | -$105.1M | -$48.9M | -$224.1M | -$801.0K | — |
| Financing cash flow | $20.2M | $81.5M | $2.5M | $4.5M | $30.3M | $232.1M | $172.4M | $131.1M | -$15.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-186928.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $2.9M | $27.5M | $21.2M | $21.1M | $207.1M | $133.6M | $97.1M | $100.6M | $21.0M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | — | -$32.5M | -$52.2M | -$105.4M | -$190.2M | -$36.3M | -$133.3M | -$130.0M | -$119.0M | -$143.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Results announced Item 2.02
- Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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