Alector Inc. (ALEC) shares skyrocket during pre-market. Here’s what you need to know
Alector Inc. (NASDAQ: ALEC) stock jumped 7.59% at the last close while ALEC’s stock price appreciated 53.82% in pre-market trading. Alector is a clinical-stage biotechnology company developing immuno-neurology, a new therapeutic strategy for neurodegenerative diseases.
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What is happening?
The voter has established a global strategic partnership for the development and commercialization of two possible first-class monoclonal antibodies at the clinical stage (AL001 and AL101) which aim to increase the levels of progranulin (PGRN). PGRN is a major regulator of immunological activity in the brain with genetic connections to a variety of neurodegenerative diseases, making it one of the most attractive genetically validated targets for new immuno-neurological therapies.
Alector’s cutting-edge experience in immuno-neurology will be combined with GSK’s R&D focus on the immune system and human genetics, as well as its established capabilities in late-stage drug development and development. global presence. A critical phase 3 study for AL001 is currently recruiting patients at risk for or with frontotemporal dementia due to a mutation in the progranulin gene (FTD-GRN). FTD-GRN is a severe, rapidly developing form of dementia that affects people under the age of 65. There is currently no approved treatment for FTD-GRN.
AL001 is also in phase 2 testing in patients with symptomatic FTD with a mutation in the C9orf72 gene, with phase 2 development for amyotrophic lateral sclerosis (ALS) expected in the second half of 2021. AL101 is currently being investigated. a phase 1a clinical study to treat individuals with more common neurodegenerative diseases such as Parkinson’s disease and Alzheimer’s disease.
Arnon Rosenthal, CEO of Alector, said:
Alector’s recognized expertise in immuno-neurology will be combined with GSK’s commitment to immunology and human genetics, along with its proven drug development capabilities and global reach. This will help the expansion and acceleration of their progranulin franchise in major indications, as well as the creation and expansion of their own business and development capabilities at an advanced stage. Importantly, this agreement aims to fully support the development of AL001 and AL101, allowing Alector to continue to build a fully integrated business as it strives to meet the significant unmet medical need. patients with neurodegenerative disorders. They are optimistic that AL001 and AL101 will be developed to their full potential due to GSK’s considerable expertise in the development of breakthrough drugs at the interface of immunology and human genetics.