Alector plunges after dementia drug fails to slow disease progression

Alector

22/10/2025 15:09

Updates

** Shares of drug developer Alector ALEC.O fall 51.4% to $1.54

** ALEC's drug, Latozinemab, co-developed with GSK GSK.L, failed to slow the progression of a rare form of dementia in a late-stage trial

** Latozinemab was being tested in people with frontotemporal dementia caused by mutations in the progranulin gene, a condition that leads to an early and severe cognitive decline

** On Tues, co said it is reducing its workforce by about 49%, or 75 employees, as part of a restructuring plan, which is expected to cost $7.7 million

** Including session's move, ALEC stock was down 19.8% YTD

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com))