Alector rises on FDA's 'breakthrough therapy' tag for dementia drug

Alector

07/02/2024 14:52

** Shares of drug developer Alector  ALEC.O  rise 2.3% to
$6.18
    **  Co says US FDA has granted  "breakthrough therapy"
status to experimental drug to treat patients with a type of
dementia
    ** The drug candidate, latozinemab, is being developed in
collaboration with British drugmaker GSK  GSK.L 
     ** Latozinemab is a human monoclonal antibody designed to
elevate progranulin, a key regulator of immune activity in the
brain
    ** "Breakthrough therapy" tag is meant to speed up the
development and review of drugs to treat a serious condition or
unmet medical need
    ** Up to last close, stock down ~37% in the last 12 months 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))