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)
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