Alector | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 3.32 M

Revenue: As of FY2026 Q2, the actual value is USD 3.32 M, beating the estimate of USD 1.713 M.

EPS: As of FY2026 Q2, the actual value is USD -0.21, beating the estimate of USD -0.215.

EBIT: As of FY2026 Q2, the actual value is USD -22.86 M.

Collaboration Revenue

• Quarter Ended June 30, 2026: Alector, Inc.’s collaboration revenue was $3.3 million, a decrease from $7.9 million for the same period in 2025, primarily due to lower revenue recognized for the AL101 AD program.
• Six Months Ended June 30, 2026: Collaboration revenue was $4.4 million, compared to $11.5 million for the same period in 2025.

Operating Expenses

• Research and Development (R&D) Expenses:
  • Quarter Ended June 30, 2026: Total R&D expenses were $19.5 million, a decrease from $27.6 million for the same period in 2025, mainly due to reductions in force and lower facilities and other expenses.
  • Six Months Ended June 30, 2026: Total R&D expenses were $37.3 million, compared to $61.3 million for the same period in 2025.
• General and Administrative (G&A) Expenses:
  • Quarter Ended June 30, 2026: Total G&A expenses were $8.3 million, down from $14.4 million for the same period in 2025, driven mainly by a decrease in personnel-related costs due to reductions in force.
  • Six Months Ended June 30, 2026: Total G&A expenses were $16.4 million, compared to $29.1 million for the same period in 2025.
• Total Operating Expenses:
  • Quarter Ended June 30, 2026: Total operating expenses were $27.7 million, compared to $42.0 million for the same period in 2025.
  • Six Months Ended June 30, 2026: Total operating expenses were $53.7 million, compared to $90.4 million for the same period in 2025.

Loss from Operations

• Quarter Ended June 30, 2026: Alector, Inc. reported a loss from operations of - $24.4 million, an improvement from a loss of - $34.1 million for the same period in 2025.
• Six Months Ended June 30, 2026: The loss from operations was - $49.3 million, compared to - $78.8 million for the same period in 2025.

Other Income, Net

• Quarter Ended June 30, 2026: Other income, net, was $1.5 million, compared to $3.6 million for the same period in 2025.
• Six Months Ended June 30, 2026: Other income, net, was $3.5 million, compared to $7.8 million for the same period in 2025.

Net Loss Before Income Tax

• Quarter Ended June 30, 2026: The net loss before income tax was - $22.9 million, compared to - $30.5 million for the same period in 2025.
• Six Months Ended June 30, 2026: The net loss before income tax was - $45.8 million, compared to - $71.0 million for the same period in 2025.

Income Tax Expense

• Quarter Ended June 30, 2026: Income tax expense was $0.1 million, with no expense reported for the same period in 2025.
• Six Months Ended June 30, 2026: Income tax expense was $0.1 million, with no expense reported for the same period in 2025.

Net Loss

• Quarter Ended June 30, 2026: Alector, Inc. reported a net loss of - $23.0 million, an improvement from a net loss of - $30.5 million for the same period in 2025.
• Six Months Ended June 30, 2026: Alector, Inc. reported a net loss of - $45.9 million, compared to - $71.0 million for the same period in 2025.

Net Loss Per Share

• Quarter Ended June 30, 2026: Net loss per share was - $0.21, compared to - $0.30 for the same period in 2025.
• Six Months Ended June 30, 2026: Net loss per share was - $0.41, compared to - $0.71 for the same period in 2025.

Balance Sheet Data (as of June 30, 2026, vs. December 31, 2025)

• Cash, Cash Equivalents, and Marketable Securities: Totaled $172.8 million, a decrease from $256.0 million.
• Total Assets: $202.9 million, down from $293.2 million.
• Total Current Liabilities (excluding deferred revenue): $34.2 million, compared to $62.8 million.
• Deferred Revenue (including current portion): $162.9 million, compared to $171.2 million.
• Total Liabilities: $212.8 million, compared to $262.6 million.
• Total Stockholders’ Equity (Deficit): - $10.0 million, compared to $30.6 million.

Outlook and Guidance

Alector, Inc. anticipates that its cash, cash equivalents, and investments of $172.8 million as of June 30, 2026, will be sufficient to fund operations at least through 2027. The company is targeting an Investigational New Drug (IND) submission for AL137 in Q1 2027 and first-in-human dosing in Australia no later than April 2027.