Alector is a clinical-stage biotech with no approved drugs, focused on developing therapies for neurodegenerative diseases including Alzheimer's disease (AD), Parkinson's disease (PD), and frontotemporal dementia (FTD). Alector's two most advanced programs are progranulin (PGRN)-elevating monoclonal antibodies co-developed with GSK. The first, latozinemab, is in a pivotal Phase 3 trial targeting FTD caused by GRN gene mutations (FTD-GRN), a rare fatal disease with no approved treatments. Latozinemab works by blocking the sortilin receptor, which normally degrades PGRN, allowing PGRN levels to normalize. The second, nivisnebart, is in a Phase 2 trial in early AD patients, targeting PGRN modulation as a risk-reduction approach. Beyond these GSK-partnered programs, Alector is advancing a preclinical pipeline enabled by its proprietary Alector Brain Carrier (ABC) platform, a blood-brain barrier delivery technology that uses receptor-mediated transcytosis to ferry therapeutic cargo into the brain. ABC-enabled programs include an anti-amyloid antibody for AD, a GCase enzyme replacement therapy for PD, and several siRNA programs. Alector is pre-revenue from product sales; funding comes from a GSK collaboration under which Alector received $700M upfront and is eligible for up to $1.5B in additional milestones, with development costs split 60/40 in GSK's favor and U.S. profits shared equally. As of mid-2025, Alector had $307M in cash, with runway guided into the second half of 2027.