Alector Q1 revenue drops but costs cuts help loss narrow

Alector

07/05/2026 21:37

Overview

Biotechnology company's Q1 revenue fell sharply yr/yr and missed analyst expectations

Net loss for Q1 narrowed, driven by reduced R&D and G&A expenses

Company ended Q1 with $206.5 mln in cash, expected to fund operations through 2027

Outlook

Alector targets IND submission for AL037/AL137 in Q1 2027

Company expects cash position to fund operations at least through 2027

Alector continues to evaluate timeline to clinic for AL050 enzyme therapy

Result Drivers

REVENUE DECLINE - Co said lower manufacturing-related activity for the discontinued Nivisnebart Phase 2 study drove yr/yr revenue decrease

LOWER EXPENSES - Co attributed reduced R&D and G&A expenses to workforce reductions and decreased spending on the AL002 program

Company press release: ID:nGNX363kTR

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$1.05 mln
$6.21 mln (3 Analysts)
Q1 EPS
-$0.21
Q1 Net Income
-$22.93 mln
Q1 Basic EPS
-$0.21


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy."

Wall Street's median 12-month price target for Alector Inc is $2.00, about 22.2% below its May 6 closing price of $2.57

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)