Companies /Healthcare
Alector Inc
NASDAQ: ALEC Biotechnology
$2.10
▲ $0.27 (+14.75%) today
Markets closed · 11:26pm ET

Alector (ALEC) Q4 2024 Earnings

Reported Feb 26, 2025, 4:10pm ET · SEC source
$-0.02
Beat +96.33%
EPS · est. $-0.54
$54.2M
Beat +165.82%
Revenue · est. $20.4M
−21.5%
Trailing market
ALEC vs S&P since report
7 quarters
Consecutive EPS beats

How Did ALEC Stock React to Q4 2024 Earnings?

% change · around the report
−5%0+5%+10%Feb 26Feb 27report 4:10pm ETearnings−1.5%−6.7%
−5%0+5%+10%Feb 26Feb 27earnings−1.5%−6.7%
ALEC −6.7%S&P 500 −1.5%
−5%0+5%+10%Feb 26Feb 27report 4:10pm ETearnings−2.7%−6.7%
−5%0+5%+10%Feb 26Feb 27earnings−2.7%−6.7%
ALEC −6.7%NASDAQ −2.7%
−21%−14%−7%0Feb 25Mar 6report 4:10pm ETearnings−3.7%−11.7%
−21%−14%−7%0Feb 25Mar 6earnings−3.7%−11.7%
ALEC −11.7%S&P 500 −3.7%
−21%−14%−7%0Feb 25Mar 6report 4:10pm ETearnings−5.1%−11.7%
−21%−14%−7%0Feb 25Mar 6earnings−5.1%−11.7%
ALEC −11.7%NASDAQ −5.1%
−3.49%
Day of report
−1.20%
Next session
−4.82%
One week
−25.90%
30 days

S&P 500 over the same 30 days: −4.39%.

Did ALEC Beat Earnings? Q4 2024 Results

Yes. Alector reported Q4 2024 earnings of $-0.02 a share on Feb 26, 2025, beating the $-0.54 consensus estimate by 96.3%. Revenue was $54.2M against a $20.4M estimate.

Alector delivered a striking beat across both top and bottom lines in the fourth quarter of 2024, with the clinical-stage neurodegeneration company posting a net loss of just $0.02 per share against a consensus estimate of $0.54, a 96.33% favorable surprise, while revenue of $54.24 million cleared the $20.40 million consensus by 165.82% and surged 257.1% year over year. The primary driver was a sharp acceleration in collaboration revenue under the AbbVie Agreement, which contributed heavily to Q4's $54.24 million total before being fully recognized as of December 31, 2024, a timing dynamic management was candid about. That conclusion creates a meaningful revenue step-down ahead, with 2025 collaboration revenue guided to just $5 million to $15 million, while R&D spending is projected at $175 million to $185 million, implying substantially wider losses. Investors will look to the pivotal INFRONT-3 Phase 3 trial of latozinemab in FTD-GRN, with topline data expected by Q4 2025, as the company's most consequential near-term catalyst, backed by a $413.40 million cash runway management says extends through 2026.

Key Takeaways
  • Significant increase in Q4 collaboration revenue driven by recognition of AL002 and latozinemab program revenue
  • Full recognition of AbbVie Agreement collaboration revenue by December 31, 2024
  • R&D expense reduction reflecting strategy to prioritize selected programs

“Alector is entering a potentially transformative period for the company, as we continue to advance our clinical programs toward key milestones while also driving the development of our wholly owned, early-stage pipeline. We look forward to reporting topline data from the pivotal INFRONT-3 Phase 3 trial of latozinemab targeting frontotemporal dementia with a granulin gene mutation by the fourth quarter. Additionally, we expect to complete enrollment in the PROGRESS-AD Phase 2 trial of AL101/GSK4527226 in participants with early Alzheimer's disease by mid-2025.”

Alector CEO, on the earnings call

What Was Alector's Outlook in Q4 2024?

For fiscal year 2025, management anticipates collaboration revenue of $5 million to $15 million (a sharp decline from $100.6 million in 2024, as AbbVie collaboration revenue was fully recognized by end of 2024), total R&D expenses of $175 million to $185 million, and total G&A expenses of $55 million to $65 million. Cash, cash equivalents, and investments of $413.4 million are expected to fund operations through 2026. Key clinical catalysts include topline data from the pivotal INFRONT-3 Phase 3 trial of latozinemab in FTD-GRN expected by Q4 2025, and completion of enrollment in the PROGRESS-AD Phase 2 trial of AL101/GSK4527226 in early Alzheimer's disease by mid-2025.

ALEC YoY Financials

Q4 2024 vs Q4 2023 · SEC filings Q4 2023 Q4 2024
$0$20.0M$40.0M$15.2M$54.2MRevenue$-3,924,318$-7,249,000Operating Income$-1,063,644$-2,074,000Net Income
$0$20.0M$40.0MRevenueOperating IncomeNet Income
ALEC income statement, Q4 2024 versus Q4 2023
Metric Q4 2024 Q4 2023 Year over year
Revenue $54.2M $15.2M +257.1%
Operating Income −$7.2M −$3.9M +84.7%
Net Income −$2.1M −$1.1M +95.0%

ALEC Revenue by Segment

Collaboration Revenue

Figures from SEC filings and company reports. Not investment advice.