Alector Faces Layoffs after Alzheimer's Drug AL002 Fails Phase 2; Focus Shifts to New Programs

Alector's investigational Alzheimer’s drug, AL002, failed to meet its primary efficacy endpoints in the Phase 2 INVOKE-2 trial[1][3]. The study, which included nearly 400 participants, showed no significant advantage of AL002 over a placebo in terms of slowing disease progression, with additional safety concerns regarding amyloid-related imaging abnormalities and infusion-related reactions[2][3]. As a result, the company has decided to discontinue further extensions of the AL002 trial, leveraging its substantial cash reserves and refocusing efforts on other promising programs amid a significant 31% drop in their stock value after the news[1].