Alector Inc at Morgan Stanley Global Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : Great. Well, nerve degeneration of the crowded and difficult space but there have been extreme successes in Alzheimer's. Can you just touch upon the insights that you've gained from these recent results?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : And so how is Alector's pipeline differentiated from these programs? And what gives you confidence that ineffective and damage to microglia could be a common pathology underlying many neurodegenerative diseases?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : Great. Well, let's start with your TREM2 program AL002 data from the Phase 2 INVOKE-2 study in Alzheimer's. Patients are expected in the fourth quarter. Can you just talk about the trial design and what's needed to complete the Phase 2?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : You saw ARIA and the subset of APOE e4 homozygous patients. Can you just talk about the ARIA that was observed? How serious were they and what modifications were made to the study for mitigating ARIA?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : You recently reported baseline characteristics, you know, given heterogeneity with dementia and cognitive impairment. What gives you confidence that you're studying the intended early AD population.

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : And the baseline data you saw, I mean amyloid centralized of around 100. Can you just talk about your expectations for what level of amyloid clearance you would expect in INVOKE? And maybe just more broadly, you guys touched upon this a little bit ago, but what would you want to see in this study, what's the bar for success?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : Yeah. For TREM2, some of your competitors have established other modalities like small molecules with some data support differences and target profile. Do you have data as to what extent the monoclonal antibody and soluble TREM2 versus membrane-bound TREM2? And what are your thoughts on how this could impact efficacy? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 05, 2024 / 11:45AM, ALEC.OQ - Alector Inc at Morgan Stanley Global Healthcare Conference

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : Okay, great. Let's move on to latozinemab. Could you just talk in brief -- give a brief overview of the program, how it differs from late onset dementias and what you and your partner, GSK hope sales are one, can achieve?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : Now what is presenting in front three baseline characteristics in the next few weeks? What should investors focus on the baseline characters? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 05, 2024 / 11:45AM, ALEC.OQ - Alector Inc at Morgan Stanley Global Healthcare Conference

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : If I'm not mistaken, for INFRONT-3 enrollment completed last October and the study is expected to go 96 weeks. Can you just talk a little bit more about the trial design when you would expect to start reporting results?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : You just talked about the high degree of variability with at-risk versus symptomatic patients. What drives this variability? Like how does it manifest and how is INFRONT-3 being conducted to mitigate this.

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : And you mentioned that the FDA is open to evaluating plasma and CSF progranulin as supportive evidence of clinical efficacy for the BLA review. Can you just walk us through some of these discussions?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : And can you just walk us through your current thinking on your commercial launch preparation education that's required?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : Great. Maybe a couple questions on your B2B platform technology. We've seen several advances in B2B delivery. Could you just talk about your proprietary platform and how it compares with the current landscape? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 05, 2024 / 11:45AM, ALEC.OQ - Alector Inc at Morgan Stanley Global Healthcare Conference

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : You talked about transferrin receptor and CD98. So to what extent are these pan cellular versus achieving cell type specificity?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : Great. Maybe one last question. Can you just remind us how much cash you have in the runway?

Question: Jeff Hung - Morgan Stanley, Research Division - Analyst : Great. Let's leave it there. Thanks so much for your time.