ALEC

EX-99.1

2 alec-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Alector Reports Third Quarter 2026 Financial Results and Provides Business Update

Advancing a pipeline built entirely on the Alector Brain Carrier (ABC) blood-brain barrier platform, spanning antibody, enzyme, and siRNA programs, with AL137, Alector's lead ABC-enabled anti-amyloid beta (Aβ) antibody program for Alzheimer's disease (AD), targeting first-in-human dosing in Australia no later than April 2027.

Continued progress across AL164 (ABC-enabled Tau siRNA for AD and other tauopathies) and AL062 (ABC-enabled alpha-synuclein siRNA for Parkinson's disease (PD) and Lewy body dementia (LBD)), each targeting first-in-human studies in Q2 2028.

Entered exclusive global license agreement with Genentech for AL050, Alector's brain-penetrant GCase enzyme replacement therapy (ERT), including a $100 million upfront payment and eligibility for up to $1.17 billion in milestone payments plus tiered royalties on net sales.

Completed underwritten offering for gross proceeds of approximately $75 million, priced at a premium to market, with participation from top-tier new and existing investors.

$138.7 million in cash, cash equivalents and investments as of September 30, 2026;

Together with proceeds from the Genentech license agreement and approximately $75.0 million in gross proceeds from the underwritten offering, expected to fund operations into the second half of 2029.

SOUTH SAN FRANCISCO, Calif., Nov. 5, 2026 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a biotechnology company focused on developing therapies to counteract the devastating progression of neurodegeneration, today reported third quarter 2026 financial results and recent portfolio and business updates. As of September 30, 2026, Alector's cash, cash equivalents, and investments totaled $138.7 million.

“Since our last quarterly update, we exclusively licensed AL050 to Genentech, strengthened our balance sheet, and moved our wholly owned programs closer to the clinic,” said Arnon Rosenthal, Ph.D., Chief Executive Officer of Alector. “The Alector Brain Carrier is designed to address one of the central challenges in treating neurodegenerative disease: delivering enough drug to the brain. With AL137 targeting first-in-human dosing no later than April 2027, and AL164 and AL062 targeting first-in-human studies in Q2 2028, we are advancing toward multiple clinical readouts as we work to bring new options to patients with neurodegenerative diseases.”

Exhibit 99.1

Recent Program and Business Updates

Alector Brain Carrier (ABC) Platform

Alector's proprietary ABC blood-brain barrier platform is designed to enhance brain exposure while optimizing both safety and efficacy. Built on the principles of versatility, translatability, and differentiated binding to a distinct region of the transferrin receptor (TfR), the platform offers a broad range of TfR binding affinities, binding kinetics, and engineered formats that can be tailored to the requirements of different therapeutic modalities, including antibodies, enzymes, proteins, and siRNA, while preserving the ability to recruit the brain's immune system when desired. Distinct from our prior clinical programs, every program in Alector's current pipeline is built on ABC.

AL137: ABC-Enabled Anti-Aβ Antibody for AD

• AL137 combines Alector's proprietary high-affinity, fully human antibody that selectively binds pyroglutamate-3 Aβ (PyroGlu3 Aβ), a validated and pathogenic form of Aβ enriched in amyloid plaques, with the ABC platform. AL137 retains full IgG1 Fc effector function, designed to recruit brain immune cells for efficient plaque clearance, and its ABC component binds an epitope intended to reduce co-engagement of TfR on reticulocytes and peripheral immune cells, with the goal of minimizing hematologic adverse effects associated with TfR-targeting antibodies. AL137 is designed for convenient monthly subcutaneous (SC) administration.

• AL137 completed IND-enabling studies, in which it was well tolerated in non-human primates (NHPs) with repeated SC administration. Alector submitted a Human Research Ethics Committee (HREC) registration in Australia in October 2026 and is targeting first-in-human SC dosing in healthy volunteers in Australia no later than April 2027. Alector is also targeting submission of a U.S. IND application in Q2 2027 to enable Phase 1b studies in AD patients.

ABC-Enabled siRNA Platform

• Alector's ABC-enabled siRNA platform is designed for peripheral dosing, offering the potential for more convenient and scalable administration compared with traditional intrathecal delivery, as well as the potential for homogeneous drug distribution throughout the brain. Alector's siRNA programs span multiple disease mechanisms, and include AL164 (tau), AL062 (α-synuclein) and ADP065 (NLRP3).

AL164: ABC-Enabled Tau siRNA for AD and Other Tauopathies

• AL164, Alector's lead siRNA program, aims to reduce all forms of toxic tau by de

8-K

false000165308700016530872026-09-302026-09-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 30, 2026

Alector, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-38792

82-2933343

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

131 Oyster Point Blvd.

Suite 600

South San Francisco, California

94080

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (415) 231-5660

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

ALEC

The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry Into a Material Definitive Agreement.

License Agreement with Genentech

On September 30, 2026, Alector, Inc. and Alector LLC (collectively, “Alector” or the “Company”) entered into a License Agreement (the “Genentech License Agreement”) with Genentech, Inc. (“Genentech”), pursuant to which Alector is granting Genentech exclusive worldwide rights to develop and commercialize Alector’s AL050 program, which is a brain penetrant engineered glucocerebrosidase (“GCase”) enzyme replacement therapy (the “GCase Candidates”). Under the Genentech License Agreement, Genentech will be responsible for development, regulatory, manufacturing, and commercialization of the GCase Candidates, and Alector will assign ownership of certain of its existing patents specific to the GCase Candidates to Genentech. Alector retains ownership of its Alector Brain Carrier platform and full rights to apply the platform across its wholly owned pipeline of compound and product candidates outside of GCases.

Alector will receive a $100 million upfront payment from Genentech under the Genentech License Agreement. In addition, Alector will be eligible to receive up to an additional $1.17 billion in development, regulatory, and commercial success-related milestone payments related to the GCase Candidates. Alector also will be eligible to receive tiered royalties on a specified percentage of net sales of the GCase Candidates at rates ranging from single-digit to double-digit percentages.

Alector will transfer to Genentech manufacturing responsibility to enable manufacture of the GCase Candidates for conducting development and commercialization activities. For a specified period of time during the term of the Genentech License Agreement, Alector is subject to certain restrictions related to the exploitation of certain compounds and products that contain or target GCase.

The Genentech License Agreement contains customary representations, warranties, covenants, and other terms by the parties, and will continue in effect unless terminated by either party pursuant to its terms. Either Alector or Genentech may terminate the Genentech License Agreement in its entirety for the other side’s insolvency or uncured material breach. Genentech may terminate the Genentech License Agreement for convenience upon prior written notice. Upon certain termination events, Genentech will revert certain patents and other assets related to the GCase Candidates back to Alector, including on terms to be agreed upon.

The foregoing description of the terms of the Genentech License Agreement is not complete and is qualified in its entirety by reference to the Genentech License Agreement, a copy of which Alector intends to file as an exhibit to a subsequent periodic report. Alector intends to redact certain confidential portions of the Genentech License Agreement upon filing because such confidential portions are not material and would be competit

EX-99.1

2 alec-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Alector Reports Second Quarter 2026 Financial Results and Provides Business Update

Advancing the Alector Brain Carrier (ABC) blood-brain barrier platform across antibodies, enzymes, and siRNA, with AL137 advancing as Alector’s lead ABC-enabled anti-amyloid beta (Aβ) antibody program for Alzheimer’s disease (AD).

Continued progress across AL064/AL164 (ABC-enabled Tau siRNA for AD and other tauopathies) and AL050 (ABC-enabled GCase Enzyme Replacement Therapy for Parkinson’s disease (PD)).

$172.8 million in cash, cash equivalents and investments provide runway at least through 2027

SOUTH SAN FRANCISCO, Calif., August 6, 2026 (GLOBE NEWSWIRE) – Alector, Inc. (Nasdaq: ALEC), a biotechnology company focused on developing therapies to counteract the devastating progression of neurodegeneration, today reported second quarter 2026 financial results and recent portfolio and business updates. As of June 30, 2026, Alector’s cash, cash equivalents, and investments totaled $172.8 million.

"We continue to make steady progress across our ABC-enabled preclinical and research pipeline,” said Arnon Rosenthal, Ph.D., Chief Executive Officer of Alector. “Our work across antibodies, enzymes, and siRNA reflects the versatility of the ABC platform and our strategy to apply it to programs where enhanced brain delivery may address important limitations in the treatment of neurodegenerative diseases. We remain focused on disciplined execution as we advance our portfolio toward clinical development, with the goal of addressing important unmet needs for patients living with neurodegenerative diseases.”

Recent Program Updates

Alector Brain Carrier (ABC): Preclinical and Research Pipeline

Alector’s proprietary Alector Brain Carrier (ABC) blood-brain barrier platform is central to the company’s strategy to enhance therapeutic delivery to the brain. ABC is designed to achieve efficient, enhanced brain delivery through differentiated binding to a distinct region of the transferrin receptor (TfR) and to enable peripheral dosing, while preserving a favorable safety profile. It is adaptable across multiple drug modalities, including antibodies, enzymes, and siRNA.

Core to the platform's design are the principles of versatility, translatability, and differentiated binding. Preclinical studies across multiple ABC-enabled programs have

shown robust brain penetration, supporting the advancement of a broad pipeline directed at the underlying drivers of neurodegenerative diseases.

AL137

• Following successful completion of IND-enabling studies evaluating both subcutaneous (SC) and intravenous (IV) administration, Alector selected AL137 as the lead molecule for its anti-amyloid beta (Aβ) antibody program for AD, with AL037 retained as a backup candidate. The company is targeting an IND submission in Q1 2027 and first-in-human dosing in Australia no later than April 2027.

• AL137 combines Alector’s proprietary high-affinity fully human anti-Aβ antibody which selectively binds pyroglutamate-3 (PyroGlu3-Aβ), a validated and pathogenic form of Aβ enriched in amyloid plaques, with the company’s proprietary ABC platform. Based on preclinical studies, AL137 is designed to be delivered SC and to combine several differentiated attributes intended to optimize efficacy, safety, convenience, and manufacturability, including:

• High brain exposure and efficient brain delivery through the ABC platform, supporting low projected efficacious dose.

• Preserved full IgG1 Fc effector function, designed to maximize recruitment of brain immune cells for efficient amyloid plaque clearance.

• A proprietary transferrin receptor (TfR)-binding epitope designed to maintain brain delivery while reducing hematologic adverse effects associated with targeting TfR with a full Fc effector function.

• A favorable preclinical safety profile to support the planned clinical study, with no observed adverse effects and only transient, reversible, non-adverse hematological findings with SC dosing.

• Supportive pharmacokinetic and formulation characteristics intended to enable convenient monthly subcutaneous administration using a high-concentration formulation.

• High-productivity manufacturability, with an identified stable, high-expressing cell line designed to support efficient large-scale manufacturing and commercial scalability.

ABC-Enabled siRNA Platform

• Alector continues to advance its ABC-enabled siRNA platform, designed for peripheral dosing and offering the potential for more convenient administration compared with traditional intrathecal delivery, as well as the potential for homogeneous drug distribution throughout the brain.

AL064/AL164

• Alector’s lead siRNA program, AL064/AL164, is a tau siRNA program for AD and other tauopathies and aims to reduce toxic tau protein expression and slowing of cognitive decline in AD.

• AL064 demonstrated robust tau mRNA knockdown and durable reduction of