Alector’s AbbVie-partnered Alzheimer's disease asset has failed to slow disease progression in a phase 2 study, the latest in a string of investigational meds missing the mark in the indication.

Alector is kicking off a resource realignment effort that will include a workforce reduction of around 17%. The biotech expects its current cash position to last it through 2026.

Alector has significant cash reserves but faces high cash burn, with no immediate catalysts and uncertain prospects for its remaining pipeline. Learn more on ALEC stock here.

Alector Therapeutics, working with AbbVie, was testing whether modulating immune cells in brain would slow Alzheimer's disease. Its drug failed the Phase 2 trial.

US clinical stage biotech Alector saw its shares tumble 35% to $2.57 by close of trading yesterday, as it announced disappointing results from the INVOKE-2 Phase II clinical trial evaluating the safety and efficacy of AL002 in slowing disease progression in individuals with early Alzheimer’s disease (AD).

(Reuters) -Cassava Sciences said on Monday it will stop all trials of its Alzheimer's disease drug after it failed a late-stage study, sending shares of the drug developer plummeting more than 80% before the bell.

Cassava Sciences stock collapsed after an Alzheimer’s drug the company was testing failed to significantly help participants in a clinical trial. The stock plummeted 84% to $4.15 Monday after reporting that a Phase 3 trial meant to demonstrate the efficacy of a medication called Simufilam fell short of key milestones.

Cassava Sciences (NASDAQ:SAVA) stock has plummeted ~86% after announcing that Alzheimer's disease candidate simufilam did meet its co-primary endpoints in a phase 3 trial. Those endpoints were change in cognition and function from baseline to the end of week 52,