Short answer
Alector, Inc. (ALEC) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $3M (down 78.8% year over year) with net income of −$35M.
Q3 2025 key financials · XBRL
- Revenue
- $3M
- −78.8% YoY · −58.6% QoQ
- Net income
- −$35M
- +17.9% YoY · −13.6% QoQ
- Operating margin
- -1153.6%
- EPS (diluted)
- −$0.34
- +22.7% YoY · −13.3% QoQ
Source: XBRL data from the Alector, Inc. (ALEC) Q3 2025 10-Q on SEC EDGAR. USD.
Alector, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Collaboration revenue $3.3M, down $12.0M YoY from $15.3M
- Net loss $34.7M vs $42.2M YoY
- Worst R&D performer AL002: expense $0.6M vs $13.8M YoY
- Cash, equivalents, securities $291.1M; runway into second half of 2027
- Latozinemab failed INFRONT-3 clinical endpoint; 47% workforce reduction planned
Risk Factors
- Latozinemab Phase 3 failure: INFRONT-3 missed co-primary endpoint, triggering cessation of extension and continuation studies
- Clinical-stage concentration: nivisnebart remains the sole product candidate in Phase 2 development
- Regulatory execution: Agency restructuring, downsizing, and funding reductions could delay approvals and clinical programs
- Near-term performance: No approved products or product-sales revenue, with four candidate programs terminated
- Liquidity and debt: $291.1 million cash, equivalents, and securities provides runway through 2027, while $10.0 million remains borrowed under the Loan Agreement
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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