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Alector prices 36.6M-share follow-on at $2.05; delivery ~Oct 19, 2026
ALEC filed SEC Form 424B5. New investors face immediate net tangible book value dilution: as-adjusted NTBV ~$0.41/share and dilution of approximately $1.64 per share; underwriting discount is $0.123/share. Company and insiders are subject to a 30-day lock-up from the prospectus date (Oct 16, 2026) restricting sales until about Nov 15, 2026, and an ATM Sales Agreement (up to $125M) remains available but is not being used until the lock-up expires.
ALEC prices 36.6M-share offering at $2.05 (~$75M); expected close Oct 19
Alector priced an underwritten primary offering of 36,600,000 shares at $2.05 per share for expected gross proceeds of approximately $75.03M. The offering is being led by Morgan Stanley and BTIG, is being sold from Alector’s shelf and is expected to close on or about October 19, 2026, subject to customary closing conditions. Timing: Initial share dilution is expected at closing on or about Oct 19, 2026, subject to closing; issuance is not confirmed.
Alector licenses brain-penetrant GCase ERT AL050 to Genentech — $100M upfront, up to $1.17B in milestones
Alector granted Genentech exclusive global rights to AL050, an engineered, brain‑penetrant glucocerebrosidase (GCase) enzyme replacement therapy delivered via Alector’s Brain Carrier (ABC); Genentech will lead development, manufacturing and commercialization. Alector will receive $100M upfront, up to $1.17B in development/regulatory/commercial milestones plus tiered royalties, and says the deal extends its cash runway into 2029 to advance other brain-enabled programs (AL137, AL164, AL062).