Alector Reports Recent Business Highlights and Second Quarter 2019 Financial Results

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Go back to Alector Reports Recent Business Highlights and Second Quarter 2019 Financial Results

Alector Inc. (ALEC) Misses Q2 EPS by 3c, Revenues Miss

August 12, 2019 4:14 PM EDT

Alector Inc. (NASDAQ: ALEC) reported Q2 EPS of ($0.36), $0.03 worse than the analyst estimate of ($0.33). Revenue for the quarter came in at $6.92 million versus the consensus estimate of $9.13 million.

Second Quarter 2019 Financial Results

Revenue. Collaboration revenue for the second quarter of 2019 was $6.9 million compared to $7.1 million for the same period in 2018. The decrease was driven primarily by lower expenses based on the scheduled timing of production with contract manufacturers that resulted in less revenue recognized under Alectors collaboration agreement with AbbVie for the current period.R&D Expenses. Total research and development... More