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The downgrade and failed trial significantly affect Alector’s outlook. Similar past downgrades lead to substantial stock declines.
What happened, with direct paths to the underlying reporting
Bank of America downgraded Alector due to AL002 program failure. AL002 missed primary endpoint in Alzheimer’s Phase 2 trial. Expected Phase 3 trial results may take until late 2025. Limited near-term milestones pressure Alector's stock performance. Analyst reduced price target from $9 to $1.
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