By Dean Seal
Alector said it has decided to cut about 25 employees, or 13% of its headcount, to reduce costs.
The biotech company, which had been developing an Alzheimer drug candidate that missed trial endpoints last fall, said Monday that the layoffs are expected to be completed by the third quarter of the year.
The cuts are expected to cost Alector about $2.4 million one-time costs, including severance payments.
The company said its existing cash on hand and investments should keep it running through 2026.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 10, 2025 09:22 ET (13:22 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。