Cantor Fitzgerald Downgrades Alector Inc. (ALEC) to Neutral

Cantor Fitzgerald analyst Pete Stavropoulos downgraded Alector Inc. (NASDAQ: ALEC) from Overweight to Neutral.

The analyst comments: "We are downgrading ALEC to Neutral, as the INFRONT-3 trial of latozinemab in FTD-GRN failed to meet its primary endpoint (CDR+NACC FTLD-SB), with no directly positive benefit. In addition, other than normalizing PGRN levels, there was no treatment effect on key biomarkers (GFAP, NfL) and vMRI.

Following the update, shares are down >50% in the after-hours. Our main focus is now on the Alector Brain Carrier (ABC) platform and early-stage pipeline assets that leverage this technology. Although we are intrigued with this platform, the programs are too early to value.

• As there has been increasing interest in blood-brain barrier crossing technology for neuro-focused indications, we see the possibility of BD activity that could result in non-dilutive funding to further extend runway (guided through 2027)."

For an analyst ratings summary and ratings history on Alector Inc. click here. For more ratings news on Alector Inc. click here.

Shares of Alector Inc. closed at $3.21 yesterday.

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