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AL002's failure dramatically impacts Alector's credibility and funding prospects. Historical examples show trial failures can lead to steep stock declines.
What happened, with direct paths to the underlying reporting
Alector's AL002 failed to slow Alzheimer's progression in Phase 2 trial. No positive effects on clinical endpoints; treatment caused MRI abnormalities. Company is stopping the long-term study and cutting workforce by 17%. Alector has $457.2 million cash, expected to fund operations through 2026. Analysts predict AbbVie may opt out of AL002 collaboration due to trial failure.
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