Alector IncALEC
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GSK terminated neuroscience collaboration, ending potential milestone payments and royalties.
Alector shares dropped 13% in extended trading after GSK terminated their neuroscience collaboration covering two experimental antibody drugs following clinical setbacks. The decision comes after a late-stage study of latozinemab failed last year and a mid-stage Alzheimer's trial of nivisnebart was discontinued in April. The termination will be effective January 2, 2027. Under the 2021 deal, Alector received $700 million upfront from GSK and could have earned up to $1.5 billion in milestone payments and royalties.
Alector IncGSK terminated neuroscience collaboration, ending potential milestone payments and royalties.
GSK plcGSK terminated pact after clinical setbacks, but impact on GSK is limited as it cuts losses.