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Alector, Inc., a clinical stage biotechnology company, develops therapies to counteract the progression of neurodegeneration in the United States. Its pipeline includes Nivisnebart, an investigational human recombinant monoclonal antibody for treating prevalent neurodegenerative diseases; AL137, an anti-amyloid beta antibody paired in preclinical development for the potential treatment of Alzheimer's disease; and AL050, a GCase enzyme replacement therapy in preclinical development for the potential treatment of Parkinson's disease and Lewy body dementia in patients having GBA1 gene mutations. The company also develops its preclinical and research pipeline comprising AL064, a tau siRNA for Alzheimer's disease and other tauopathies; ADP062-ABC, an alpha-synuclein siRNA for Parkinson's disease; and ADP065-ABC, an NLRP3 siRNA for neurodegenerative conditions. It has a strategic collaboration agreement with GlaxoSmithKline plc for the development and commercialization of progranulin-elevating monoclonal antibodies, including Latozinemab and Nivisnebart. The company was founded in 2013 and is headquartered in South San Francisco, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $21M | $-146M | $-143M | $-184M | -466.3% | -79.1% | 20.1% |
| 2024 | $101M | $-136M | $-119M | $-231M | -93.9% | 3.6% | -8.7% |
| 2023 | $97M | $-143M | $-130M | $-187M | -97.2% | -27.4% | -2.2% |
| 2022 | $134M | $-129M | $-133M | $-24M | -62.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 133.62 | 97.06 | 100.56 | 21.04 |
| Operating Revenue | - | 133.62 | 97.06 | 100.56 | 21.04 |
| Operating Expense | - | 271.45 | 248.80 | 245.56 | 177.05 |
| Research And Development | - | 210.42 | 192.12 | 185.94 | 123.06 |
| Selling General And Administration | - | 61.03 | 56.69 | 59.62 | 53.99 |
| Total Expenses | - | 271.45 | 248.80 | 245.56 | 177.05 |
| Operating Income | - | -137.83 | -151.74 | -145 | -156.01 |
| Total Operating Income As Reported | - | -137.83 | -151.74 | -145 | -156.01 |
| EBITDA | - | -129.36 | -142.89 | -136.16 | -146.35 |
| Normalized EBITDA | - | -129.36 | -142.89 | -136.16 | -146.35 |
| EBIT | - | -137.83 | -151.74 | -145 | -156.01 |
| Other Non Operating Income Expenses | - | 7.78 | 26.56 | 26.08 | 13.25 |
| Other Income Expense | - | 7.78 | 26.56 | 26.08 | 13.25 |
| Pretax Income | - | -130.06 | -125.18 | -118.92 | -142.76 |
| Tax Provision | - | 3.25 | 5.21 | 0.13 | 0.17 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -133.31 | -130.39 | -119.05 | -142.93 |
| Net Income From Continuing And Discontinued Operation | - | -133.31 | -130.39 | -119.05 | -142.93 |
| Net Income From Continuing Operation Net Minority Interest | - | -133.31 | -130.39 | -119.05 | -142.93 |
| Net Income | - | -133.31 | -130.39 | -119.05 | -142.93 |
| Net Income Common Stockholders | - | -133.31 | -130.39 | -119.05 | -142.93 |
| Net Income Including Noncontrolling Interests | - | -133.31 | -130.39 | -119.05 | -142.93 |
| Normalized Income | - | -133.31 | -130.39 | -119.05 | -142.93 |
| Diluted NI Availto Com Stockholders | - | -133.31 | -130.39 | -119.05 | -142.93 |
| Basic Average Shares | - | 82.47 | 83.73 | 96.59 | 103 |
| Diluted Average Shares | - | 82.47 | 83.73 | 96.59 | 103 |
| Reconciled Depreciation | - | 8.47 | 8.85 | 8.84 | 9.66 |
| General And Administrative Expense | - | 61.03 | 56.69 | 59.62 | 53.99 |
| Other Gand A | - | 61.03 | 56.69 | 59.62 | 53.99 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Alector, Inc.this co. | ALEC | $201M | - | 6.56 | -466.3% | - |
| Accendra Health, Inc. | ACH | $203M | -0.18 | -0.44 | 238.8% | 9.29 |
| Sanara MedTech Inc. | SMTI | $203M | -5.40 | 34.13 | -632.5% | 22.72 |
| TriSalus Life Sciences, Inc. | TLSI | $203M | -5.17 | -5.99 | 115.8% | -6.56 |
| Embecta Corp. | EMBC | $202M | 2.12 | -0.31 |
| - |
| - |
| - |
| - |
| - |
| -14.6% |
| 4.95 |
| Nkarta, Inc. | NKTX | $198M | - | 0.63 | -33.3% | - |
| Anika Therapeutics, Inc. | ANIK | $197M | -18.09 | 1.37 | -7.6% | -31.11 |
| Lucid Diagnostics Inc. | LUCD | $195M | - | 17.79 | -645.1% | - |
| Cartesian Therapeutics, Inc. | RNAC | $192M | -1.48 | -1.52 | 103.2% | -0.96 |
| Peer Median | - | -3.32 | 0.16 | -11.1% | 2.00 | |