Alector Q3 net income of $124.6 million on $162.9 million GSK-related revenue
Alector reported third quarter 2026 collaboration revenue of $162.9 million, up from $3.3 million a year earlier, after recognizing remaining deferred revenue following GSK's July 6, 2026 termination notice. The company swung to net income of $124.6 million, or $1.11 per share, from a net loss of $34.7 million, and said it has funded operations into the second half of 2029 with the Genentech upfront payment and October offering proceeds.
Key points
- Collaboration revenue was $162.9 million, versus $3.3 million, driven by recognition of remaining deferred revenue after GSK's July 6, 2026 termination notice.
- Net income was $124.6 million, or $1.11 per share, compared with a net loss of $34.7 million, or $0.34 per share, a year earlier.
- Genentech licensed AL050 with a $100 million upfront payment and eligibility for up to $1.17 billion in milestones plus tiered royalties.
- Cash, cash equivalents and investments were $138.7 million at September 30, 2026; the October offering raised about $75.0 million gross.
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.