Short answer
Alector, Inc. (ALEC) filed its Q1 2026 10-Q quarterly report on May 7, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $1M (down 71.5% year over year) with net income of −$23M.
Q1 2026 key financials · XBRL
- Revenue
- $1M
- −71.5% YoY
- Net income
- −$23M
- +43.3% YoY
- Operating margin
- -2382.3%
- EPS (diluted)
- −$0.21
- +48.8% YoY
Source: XBRL data from the Alector, Inc. (ALEC) Q1 2026 10-Q on SEC EDGAR. USD.
Alector, Inc. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Collaboration revenue $1.0M vs $3.6M YoY, down $2.6M from lower nivisnebart manufacturing activity
- Net loss $22.9M vs $40.5M YoY; operating loss $24.9M vs $44.7M
- R&D expense $17.8M vs $33.6M; AL037/AL137 largest program at $3.0M
- Cash, equivalents and marketable securities $206.5M; operating cash use $49.8M vs $60.8M YoY
- Runway expected through 2027; PROGRESS-AD discontinued after interim futility analysis
Risk Factors
- Newly triggered clinical risk: GSK discontinued PROGRESS-AD in April 2026 after interim futility analysis found the primary endpoint unlikely to be met
- Most material development update: nivisnebart Phase 2 termination leaves Alector with no active clinical trials
- Regulatory risk: FDA or foreign-agency staffing and funding changes could delay product development or approvals
- Near-term operational risk: preclinical pipeline requires prioritization after five product-candidate clinical programs were terminated
- Financial risk: $206.5 million cash, equivalents, and marketable securities expected to fund operations at least through 2027
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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