Alector Shares Rise After $75 Million Offering Prices

By Chris Wack

Alector shares were higher after the company priced an underwritten offering of 36.6 million shares of common stock.

The stock was up 6%, at $2.03, in morning trade, and is 39% higher in the past three months.

The biotechnology company said the shares are being sold at $2.05 a share, which represents a premium of 7.3% over their closing price Thursday.

The proceeds to Alector from this offering are expected to be about $75 million before deducting the underwriting discounts and commissions and other estimated offering expenses. All shares in the offering are being offered by Alector.

The company said the offering is expected to close on or about Monday.

The financing includes participation from new and existing investors, including TCGX, BVF Partners, ADAR1 Capital Management and Deep Track Capital.

Alector said it expects to use the proceeds from the offering for general corporate purposes.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 16, 2026 09:48 ET (13:48 GMT)