This transaction totaled approximately $41,542. Following the sale, Grasso retains ownership of 330,651 shares in the company. The sale was conducted to satisfy tax obligations related to the vesting of restricted stock units. While the company maintains a strong liquidity position with a current ratio of 3.29 and more cash than debt on its balance sheet, InvestingPro subscribers can access 15 additional key insights about Alector's financial health and growth prospects through the comprehensive Pro Research Report. While the company maintains a strong liquidity position with a current ratio of 3.29 and more cash than debt on its balance sheet, InvestingPro subscribers can access 15 additional key insights about Alector's financial health and growth prospects through the comprehensive Pro Research Report. This transaction totaled approximately $41,542. Following the sale, Grasso retains ownership of 330,651 shares in the company. The sale was conducted to satisfy tax obligations related to the vesting of restricted stock units.
In other recent news, Alector Inc (NASDAQ:ALEC). faced a setback as its AL002 Phase 2 INVOKE-2 trial for Alzheimer's disease failed to meet its primary endpoint, leading to the discontinuation of the program. Analysts from Morgan Stanley (NYSE:MS) downgraded Alector's stock from Equalweight to Underweight and revised its price target to $3.00, while H.C. Wainwright maintains a Buy rating for the company with a reduced price target of $7. Goldman Sachs reaffirmed its Sell rating with a price target of $4.
Despite the trial's failure, Alector secured a $50 million credit facility from Hercules Capital (NYSE:HTGC) Inc., aimed at supporting ongoing research and development efforts. The company continues to focus on its other programs, including the PGRN program and five early-stage programs based on their ABC transport technology.
Investors are now looking ahead to the next major milestone for Alector, which is the Phase 3 INFRONT3 data expected to be released in late 2025 to early 2026. As of September 30, 2024, Alector reported having $457.2 million in cash, cash equivalents, and investments, projecting a financial runway through 2026. These are among the recent developments shaping the course of Alector Inc.
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