Alector (ALEC) Goldman Sachs 45th Annual Global Healthcare Conference summary

Strategic focus and scientific approach

• Mission centers on eradicating neurodegenerative brain disorders by integrating human genetics, immunology, and neuroscience to develop novel drugs.

• Approach leverages the brain's immune system, inspired by immuno-oncology advances, to target disease pathologies beyond traditional misfolded protein strategies.

• Pipeline includes late-stage programs for Alzheimer's and frontotemporal dementia, with additional assets for Parkinson's and Lewy body dementia.

• Blood-brain barrier technology is being integrated to enhance drug delivery and efficacy for CNS disorders.

• Long-term goal is to file at least one new IND annually.

Clinical pipeline and upcoming milestones

• Three late-stage clinical programs: TREM2-activating antibody (AL002) for Alzheimer's, latozinemab for frontotemporal dementia, and AL101 for Alzheimer's.

• AL002 phase II trial completed recruitment; data expected by year-end, with AbbVie partnership decision and potential $250M opt-in payment in Q1 2025.

• Latozinemab phase III for frontotemporal dementia fully recruited; data expected by end of 2025.

• AL101 phase II for Alzheimer's is ongoing, with data anticipated around 2026–2027.

Key clinical insights and trial design

• AL002 targets TREM2, a key microglial receptor; phase II is a double-blind, placebo-controlled, multi-arm study in early Alzheimer's, measuring cognitive, imaging, and biomarker endpoints.

• Safety monitoring includes ARIA and cognitive effects; over 90% of patients opted for long-term extension, indicating favorable tolerability.

• Latozinemab elevates progranulin, showing normalization of disease biomarkers and slowed cognitive decline in open-label phase II, leading to FDA breakthrough therapy designation.

• Phase III for latozinemab uses CDR and NACC FTD as primary endpoints, with imaging and biomarker integration for regulatory approval.