Q1 25 EPS
$-0.41
BEAT +10.87%
Est. $-0.46
Q1 25 Revenue
$3.7M
MISS 13.55%
Est. $4.3M
vs S&P Since Q1 25
+38.9%
BEATING MARKET
ALEC +68.9% vs S&P +29.9%
Market Reaction
Did ALEC Beat Earnings? Q1 2025 Results
Alector delivered a mixed first quarter for 2025, beating on the bottom line while falling short on revenue, as the wind-down of key collaboration obligations continued to reshape its financials. The neurodegenerative disease-focused biotech posted a… Read more Alector delivered a mixed first quarter for 2025, beating on the bottom line while falling short on revenue, as the wind-down of key collaboration obligations continued to reshape its financials. The neurodegenerative disease-focused biotech posted a loss of $0.41 per share, ahead of the consensus estimate of $0.46 by 10.87%, but quarterly collaboration revenue dropped sharply to $3.67 million, a 76.9% decline from a year ago and below the $4.25 million analyst estimate, driven largely by the completion of performance obligations tied to the AL002 program. Reduced R&D spending, which fell to $33.64 million from $45.17 million in Q1 2024, helped cushion the earnings impact even as net loss widened modestly to $40.47 million. With $354.55 million in cash and investments expected to sustain operations into the second half of 2027, the company reiterated full-year collaboration revenue guidance of $5 million to $15 million, keeping investor focus squarely on topline data from the pivotal INFRONT-3 Phase 3 trial of latozinemab in FTD-GRN, anticipated in Q4 2025.
Key Takeaways
- • Collaboration revenue decline driven by satisfaction of AL002 program and latozinemab FTD-C9orf72 Phase 2 trial performance obligations in Q4 2024
- • R&D expense decrease driven by reduced AL002 program spending and lower personnel costs from reductions in force
- • Other income, net of $4.2 million partially offset operating losses
ALEC YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
“With cash runway extending into the second half of 2027, Alector is advancing a portfolio of drug candidates toward novel as well as validated targets for people living with neurodegenerative diseases. We remain on track to report topline results from the pivotal INFRONT-3 Phase 3 trial of latozinemab in frontotemporal dementia with a granulin gene mutation in the fourth quarter of 2025, and we have completed enrollment in the PROGRESS-AD Phase 2 trial of AL101/GSK4527226 in early Alzheimer's disease. This progress reinforces our commitment to developing meaningful therapies for people living with neurodegeneration.”
— Arnon Rosenthal, Q1 2025 Earnings Press Release
ALEC Earnings Trends
ALEC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ALEC EPS Trend
Earnings per share: estimate vs actual
ALEC Revenue Trend
Quarterly revenue: estimate vs actual
ALEC Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $-0.28 | $-0.21 | +24.22% | $1.0M | -90.52% |
| Q1 26 BEAT | $-0.28 | $-0.21 | +24.22% | $1.0M | -90.52% |
| Q4 25 BEAT FY | $-0.36 | $-0.34 | +6.41% | $6.2M | +218.63% |
| FY Full Year | $-1.38 | $-1.39 | -1.09% | $21.0M | +24.39% |
| Q3 25 BEAT | $-0.41 | $-0.34 | +17.66% | $3.3M | -6.52% |
| Q2 25 BEAT | $-0.47 | $-0.30 | +36.17% | $7.9M | +180.73% |
| Q1 25 BEAT | $-0.46 | $-0.41 | +10.87% | $3.7M | -13.55% |
| Q4 24 BEAT FY | $-0.54 | $-0.02 | +96.33% | $54.2M | +165.82% |
| FY Full Year | — | $-1.23 | — | $100.6M | — |