Alector Secures Flexible Credit Facility for Up to $50 Million From Hercules Capital
Alector, Inc. (ALEC)
Last alector, inc. earnings: 3/24 04:05 pm
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Source: GlobeNewswire
SOUTH SAN FRANCISCO, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, today announced that the Company has entered into a debt financing agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $50 million. “Alector is in a strong cash position with more than $457 million in cash and investments. This credit facility further enhances our financial strength and provides the Company with increased strategic and operational flexibility,” said Marc Grasso, M.D., Chief Financial Officer of Alector. “We anticipate transformational data from both the AL002 INVOKE-2 Phase 2 trial and the latozinemab INFRONT-3 pivotal Phase 3 trial within our runway. This credit facility provides additional funding to advance our preclinical pipeline including our proprietary, versatile Alector Brain Carrier blood-brain barrier platform and programs.” Under the terms of the agreement, Alector drew an initial $10
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News
- Alector, Inc. (NASDAQ: ALEC) was downgraded by analysts at Mizuho from an "outperform" rating to a "neutral" rating. They now have a $2.50 price target on the stock, down previously from $9.00.MarketBeat
- Alector, Inc. (NASDAQ: ALEC) was downgraded by analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating. They now have a $4.00 price target on the stock.MarketBeat
- Alector, Inc. (NASDAQ: ALEC) was downgraded by analysts at Bank of America Co. from a "neutral" rating to an "underperform" rating. They now have a $1.00 price target on the stock, down previously from $9.00.MarketBeat
- Alector, Inc. (NASDAQ: ALEC) had its price target lowered by analysts at HC Wainwright from $35.00 to $7.00. They now have a "buy" rating on the stock.MarketBeat
- ALEC Stock Tanks as Alzheimer's Drug Fails in Mid-Stage Study [Yahoo! Finance]Yahoo! Finance
ALEC
Earnings
- 11/6/24 - Beat
ALEC
Sec Filings
- 12/6/24 - Form SC
- 12/3/24 - Form 4
- 12/3/24 - Form 4
- ALEC's page on the SEC website