Biotech & Genomic Medicine▼
Alector stock plummets 13% as GSK terminates neuroscience pact
Alector shares dropped 13% in extended trading after GSK terminated their neuroscience collaboration covering two experimental antibody drugs following clinical setbacks. The decision comes after a late-stage study of latozinemab failed last year and a mid-stage Alzheimer's trial of nivisnebart was discontinued in April. The termination will be effective January 2, 2027. Under the 2021 deal, Alector received $700 million upfront from GSK and could have earned up to $1.5 billion in milestone payments and royalties.