Investing.com -- Alector shares surged about 13% in premarket trading Friday following the company’s announcement of a $75 million stock offering priced at a premium to the previous day’s close.

The South San Francisco-based biotechnology company priced an underwritten offering of 36.6 million shares of common stock at $2.05 per share, representing a premium of approximately 7.3% over the October 15, 2026 closing price. The gross proceeds are expected to reach $75.03 million before deducting underwriting discounts, commissions, and other offering expenses.

The financing includes participation from new and existing investors, including TCGX, BVF Partners, ADAR1 Capital Management, and Deep Track Capital. The offering is expected to close on or about October 19, 2026, subject to customary closing conditions.

Alector stated it anticipates using the net proceeds for general corporate purposes, which may include research, development and manufacturing of its product candidates, working capital, capital expenditures, other corporate expenses, and potential acquisitions or strategic transactions in complementary products, technologies, or businesses.

Alector is a biotechnology firm that focuses on developing therapies to counteract the progression of neurodegenerative diseases.

Morgan Stanley and BTIG are serving as joint lead book-running managers for the offering.

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