Alector Stock Falls After Flashing 12-Month Data From Mid-Stage Trial In Frontotemporal Dementia Patients

Alector Inc ALEC detailed early data from its lead drug, AL001, INFRONT-2 Phase trial at the Alzheimer's Association International Conference (AAIC 2021)

• Patients with one type of frontotemporal dementia decline because they're missing one copy of an immune-regulating gene called progranulin and subsequently have half the amount of the protein healthy adults have. 
• In 9 patients, Alector showed that their antibody, AL001, brought progranulin levels back to near-normal levels after a half-year. Seven stayed at near-normal after a year.
• The Company also showed that most of those patients improved across a range of biological correlates for cognitive function, including the rate at which patients' brains shrunk. Data also claimed the treatment slowed patients' mental decline. 
• Although investigators didn't have a control arm, they matched subjects with similar patients from a medical database and said those who received treatment declined 47% more slowly.
• Last year, the Company launched a Phase 3 trial that will enroll 180 patients and randomize them to receive either AL001 or placebo for 96 weeks.
• Earlier this month, GlaxoSmithKline plc GSK gave Alector $700 million cash and $1.5 billion in milestones to co-develop AL001 and AL101.
• Price Action: ALEC shares are down 8.5% at $27.92 during the market session on the last check Thursday.