Alector’s AbbVie-partnered Alzheimer's asset has failed to slow disease progression in a phase 2 study, the latest in a string of investigational meds missing the mark in the indication. | Alector’s Abbvie-partnered Alzheimer's asset has failed to slow disease progression in a phase 2 study,

Alector is kicking off a resource realignment effort that will include a workforce reduction of around 17%. The biotech expects its current cash position to last it through 2026.

Alector Therapeutics, working with AbbVie, was testing whether modulating immune cells in brain would slow Alzheimer's disease. Its drug failed the Phase 2 trial.

US clinical stage biotech Alector saw its shares tumble 35% to $2.57 by close of trading yesterday, as it announced disappointing results from the INVOKE-2 Phase II clinical trial evaluating the safety and efficacy of AL002 in slowing disease progression in individuals with early Alzheimer’s disease (AD).

Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering novel, genetically validated therapies for the treatment of neurodegenerative diseases, today announced results from the INVOKE-2 Phase 2 clinical trial evaluating the safety and efficacy of AL002 in slowing disease progression in individuals with early Alzheimer’s disease (AD).

Alector's AL002 fails in Phase 2 Alzheimer's trial, halting extension study; focus shifts to other programs as workforce is cut by 17%.