Biotech co Alector rises after premium-priced $75 mln stock sale

Morgan Stanley

16/10/2026 13:19

** Biotech firm Alector's ALEC.O shares up 6.8% at $2.04 before the bell on Fri after $75 mln follow-on priced
** ALEC sells 36.6 mln shares at $2.05, 7.3% above their last sale on Thurs
** Financing includes participation from new and existing investors, including TCGX, BVF Partners, among others, co says
** It intends to use net offering proceeds for general purposes, including R&D, working capital, capex, expenses, potential acquisitions
** Morgan Stanley and BTIG joint bookrunners
** On Oct 5, ALEC's stock ultimately finished session up ~10% at $1.99 after it announced that Genentech, a unit of Swiss drugmaker Roche ROPC.S, will pay up to $1.27 bln to license AL050, ALEC's experimental drug for Parkinson's disease
** South San Francisco, California-based ALEC has ~111.7 mln shares outstanding
** At Thurs close, stock up 30% over the past three months
     

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))