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Alector Shares Surge 58% After Licensing AL050 to Genentech for Up to $1.27 Billion
Read this in the Market Flux appAlector, Inc. $ALEC
$1.98+9.39%as of publication
- 5D Change
- +3.12%
- Notional
- $175.11M
Alector struck an exclusive global licensing agreement with Genentech for its AL050 program, a brain penetrant glucocerebrosidase (GCase) enzyme replacement therapy targeting Parkinson's disease and other neurodegenerative diseases. The deal includes a $100 million upfront payment and up to $1.17 billion in additional development and commercial milestones, plus royalties.
Shares of Alector surged approximately 58% in premarket trading on October 5, making it one of the largest gap-up movers of the session. The partnership hands Genentech global rights to develop and commercialize AL050, while Alector stands to benefit from the milestone structure as the program advances through clinical development.
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- NasdaqAlector Signs Global License Deal With Genentech For AL050
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