Short answer
Alector, Inc. (ALEC) filed its Q2 2026 10-Q quarterly report on Aug 6, 2026 for the quarter ended Jun 30, 2026. Quarterly revenue was $3M (down 57.8% year over year) with net income of −$23M.
Q2 2026 key financials · XBRL
- Revenue
- $3M
- −57.8% YoY · +217.4% QoQ
- Net income
- −$23M
- +24.7% YoY · −0.3% QoQ
- Operating margin
- -734.7%
- EPS (diluted)
- −$0.20
- +33.3% YoY · +4.8% QoQ
Source: XBRL data from the Alector, Inc. (ALEC) Q2 2026 10-Q on SEC EDGAR. USD.
Alector, Inc. Q2 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Collaboration revenue $3.3M, down $4.6M from $7.9M YoY, primarily lower AL101 AD revenue
- Net loss $23.0M vs $30.5M YoY; operating loss $24.4M vs $34.1M
- AL037/AL137 highest R&D spending at $5.0M; nivisnebart lowest at $0.7M
- Cash, equivalents and securities $172.8M; operating cash used $84.0M versus $109.8M YoY
- Runway at least through 2027; GSK termination effective January 2, 2027, with additional funding needed
Risk Factors
- Newly triggered development setback: GSK discontinued nivisnebart’s Phase 2 PROGRESS-AD trial in April 2026 after interim futility analysis
- Most material pipeline change: no active clinical trials after latozinemab, nivisnebart, and AL002 discontinuations
- Regulatory risk: FDA or other agency staffing and funding changes could delay product development or commercialization
- Near-term operational risk: preclinical-only pipeline leaves success dependent on advancing unproven neurodegenerative programs
- Liquidity risk: $172.8 million in cash, equivalents, and marketable securities projected 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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