$ALEC
Alector Inc

2023 Q4 Form 10-Q Financial Statement

#000095017023060270 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $15.19M $9.109M
YoY Change 5.19% -38.67%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.92M $13.40M
YoY Change -3.02% -5.98%
% of Gross Profit
Research & Development $47.72M $46.33M
YoY Change -12.42% -4.18%
% of Gross Profit
Depreciation & Amortization $1.437M $1.500M
YoY Change 3.08% 11.36%
% of Gross Profit
Operating Expenses $62.64M $59.69M
YoY Change -10.35% -4.65%
Operating Profit -$50.58M
YoY Change 5.94%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $7.685M $7.360M
YoY Change 105.98% 215.47%
Pretax Income -$39.77M -$43.22M
YoY Change -23.09% -4.83%
Income Tax $1.666M $1.252M
% Of Pretax Income
Net Earnings -$41.43M -$44.48M
YoY Change -20.97% -3.63%
Net Earnings / Revenue -272.77% -488.25%
Basic Earnings Per Share -$0.53
Diluted Earnings Per Share -$0.49 -$0.53
COMMON SHARES
Basic Shares Outstanding 84.14M 83.83M
Diluted Shares Outstanding 83.93M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $548.9M $588.9M
YoY Change -23.0% -22.34%
Cash & Equivalents $74.56M $102.0M
Short-Term Investments $474.3M $486.9M
Other Short-Term Assets $16.95M $13.80M
YoY Change 54.1% 35.75%
Inventory
Prepaid Expenses
Receivables $0.00 $10.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $565.8M $613.1M
YoY Change -22.11% -20.88%
LONG-TERM ASSETS
Property, Plant & Equipment $21.86M $23.12M
YoY Change -14.34% -12.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.418M $8.548M
YoY Change 15.74% 47.79%
Total Long-Term Assets $56.02M $59.25M
YoY Change -8.48% -4.55%
TOTAL ASSETS
Total Short-Term Assets $565.8M $613.1M
Total Long-Term Assets $56.02M $59.25M
Total Assets $621.8M $672.4M
YoY Change -21.05% -19.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.775M $4.679M
YoY Change -9.88% 2.93%
Accrued Expenses $30.38M $30.42M
YoY Change 9.39% 30.99%
Deferred Revenue $82.98M $80.56M
YoY Change 72.04% -32.69%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $177.9M $155.4M
YoY Change 89.69% -3.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.373M $898.0K
YoY Change 80.9% 285.41%
Total Long-Term Liabilities $1.373M $898.0K
YoY Change 80.9% 285.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $177.9M $155.4M
Total Long-Term Liabilities $1.373M $898.0K
Total Liabilities $487.7M $509.8M
YoY Change -14.92% -12.69%
SHAREHOLDERS EQUITY
Retained Earnings -$710.1M -$668.6M
YoY Change 22.49% 26.82%
Common Stock $8.000K $8.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $134.2M $162.6M
YoY Change
Total Liabilities & Shareholders Equity $621.8M $672.4M
YoY Change -21.05% -19.67%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$41.43M -$44.48M
YoY Change -20.97% -3.63%
Depreciation, Depletion And Amortization $1.437M $1.500M
YoY Change 3.08% 11.36%
Cash From Operating Activities -$46.07M -$46.50M
YoY Change -5.84% -5.2%
INVESTING ACTIVITIES
Capital Expenditures $233.0K -$100.0K
YoY Change -69.58% -94.78%
Acquisitions
YoY Change
Other Investing Activities $18.30M $16.90M
YoY Change -4.4% -72.94%
Cash From Investing Activities $18.07M $16.90M
YoY Change -1.69% -72.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 590.0K 0.000
YoY Change -7.23% -100.0%
NET CHANGE
Cash From Operating Activities -46.07M -46.50M
Cash From Investing Activities 18.07M 16.90M
Cash From Financing Activities 590.0K 0.000
Net Change In Cash -27.41M -29.60M
YoY Change -8.36% -347.37%
FREE CASH FLOW
Cash From Operating Activities -$46.07M -$46.50M
Capital Expenditures $233.0K -$100.0K
Free Cash Flow -$46.30M -$46.40M
YoY Change -6.82% -1.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001653087
CY2023Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-38792
dei Entity Registrant Name
EntityRegistrantName
Alector, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
82-2933343
dei Entity Address Address Line1
EntityAddressAddressLine1
131 Oyster Point Blvd
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 600
dei Entity Address City Or Town
EntityAddressCityOrTown
South San Francisco
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94080
dei City Area Code
CityAreaCode
415
dei Local Phone Number
LocalPhoneNumber
231-5660
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
ALEC
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
84136381
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
101964000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
154323000
CY2023Q3 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
486897000
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
558528000
CY2023Q3 alec Collaboration Receivable
CollaborationReceivable
10465000
CY2022Q4 alec Collaboration Receivable
CollaborationReceivable
2587000
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
13821000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10997000
CY2023Q3 us-gaap Assets Current
AssetsCurrent
613147000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
726435000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23115000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25521000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
26039000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
27811000
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1546000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1472000
CY2023Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
8548000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6409000
CY2023Q3 us-gaap Assets
Assets
672395000
CY2022Q4 us-gaap Assets
Assets
787648000
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
4679000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
4189000
CY2023Q3 alec Accrued Clinical Supply Cost
AccruedClinicalSupplyCost
7430000
CY2022Q4 alec Accrued Clinical Supply Cost
AccruedClinicalSupplyCost
5559000
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30423000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
27771000
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
80561000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
48231000
CY2023Q3 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
23919000
CY2022Q4 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
0
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
8390000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
8059000
CY2023Q3 us-gaap Liabilities Current
LiabilitiesCurrent
155402000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
93809000
CY2023Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
229848000
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
443370000
CY2023Q3 us-gaap Contract With Customer Refund Liability Noncurrent
ContractWithCustomerRefundLiabilityNoncurrent
91849000
CY2022Q4 us-gaap Contract With Customer Refund Liability Noncurrent
ContractWithCustomerRefundLiabilityNoncurrent
0
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
31843000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
35268000
CY2023Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
898000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
759000
CY2023Q3 us-gaap Liabilities
Liabilities
509840000
CY2022Q4 us-gaap Liabilities
Liabilities
573206000
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
84136381
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
84136381
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
82895718
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
82895718
CY2023Q3 us-gaap Common Stock Value
CommonStockValue
8000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
8000
CY2023Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
831912000
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
798696000
CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-721000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4575000
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-668644000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-579687000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
162555000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
214442000
CY2023Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
672395000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
787648000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9109000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14852000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
81872000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
119177000
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
46328000
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
48348000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
144392000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
155925000
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13364000
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14252000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
41767000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
45648000
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
59692000
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
62600000
us-gaap Operating Expenses
OperatingExpenses
186159000
us-gaap Operating Expenses
OperatingExpenses
201573000
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-50583000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-47748000
us-gaap Operating Income Loss
OperatingIncomeLoss
-104287000
us-gaap Operating Income Loss
OperatingIncomeLoss
-82396000
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7360000
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2333000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
18876000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4047000
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-43223000
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-45415000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-85411000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-78349000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1252000
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
733000
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
489000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3546000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2533000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-44475000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-46148000
us-gaap Net Income Loss
NetIncomeLoss
-88957000
us-gaap Net Income Loss
NetIncomeLoss
-80882000
CY2023Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
665000
CY2022Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-518000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
3854000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10765000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-5799000
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-43810000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-46666000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-85103000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-86681000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.56
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.98
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.98
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83927961
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83927961
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82602842
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82602842
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83513954
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83513954
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82367936
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82367936
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
214442000
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1079000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10975000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2376000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-45857000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
183015000
CY2023Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
881000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10222000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
813000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
1375000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
196306000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10059000
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
665000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-44475000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
162555000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
300724000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2483000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11939000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2992000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-44617000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
267537000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
41000
CY2022Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
866000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12478000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2289000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
9883000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
288516000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-518000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-46148000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
253104000
us-gaap Profit Loss
ProfitLoss
-88957000
us-gaap Profit Loss
ProfitLoss
-80882000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4288000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4320000
us-gaap Share Based Compensation
ShareBasedCompensation
31256000
us-gaap Share Based Compensation
ShareBasedCompensation
35183000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
10510000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-269000
alec Amortization Right Of Use Asset
AmortizationRightOfUseAsset
2302000
alec Amortization Right Of Use Asset
AmortizationRightOfUseAsset
2039000
alec Increase Decrease In Collaboration Receivable
IncreaseDecreaseInCollaborationReceivable
7878000
alec Increase Decrease In Collaboration Receivable
IncreaseDecreaseInCollaborationReceivable
-900000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2824000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3095000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2139000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
210000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
638000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-383000
alec Increase Decrease In Accrued Liabilities And Accrued Clinical Supply Costs
IncreaseDecreaseInAccruedLiabilitiesAndAccruedClinicalSupplyCosts
4667000
alec Increase Decrease In Accrued Liabilities And Accrued Clinical Supply Costs
IncreaseDecreaseInAccruedLiabilitiesAndAccruedClinicalSupplyCosts
-7287000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-51592000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
80823000
alec Increase Decrease In Refund Liability To Collaboration Partner
IncreaseDecreaseInRefundLiabilityToCollaborationPartner
13832000
alec Increase Decrease In Refund Liability To Collaboration Partner
IncreaseDecreaseInRefundLiabilityToCollaborationPartner
0
alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-3650000
alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-3156000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
139000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
75000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-138092000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
28596000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2148000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3351000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
414478000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
394345000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
500473000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
220301000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
83847000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-177395000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1079000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3013000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
881000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
865000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1960000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3878000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-52285000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-144921000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155795000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
330624000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
103510000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
185703000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
201000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
633000
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:4.533%;text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expense during the reporting period. The Company evaluates its estimates, including those related to revenue recognition, manufacturing accruals, clinical accruals, fair value of assets and liabilities, income taxes uncertainties, stock-based compensation, and related assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">.</span>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:4.533%;text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="margin-left:4.533%;text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, and short-term marketable securities. Cash and cash equivalents are deposited in checking and sweep accounts at financial institutions. Such deposits may, at times, exceed federally insured limits.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
101964000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
184231000
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1546000
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1472000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
103510000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
185703000
us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
0
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
550500000
CY2023Q3 alec Available For Sale Securities Debt Maturities Over One Year Through Two Years Fairvalue
AvailableForSaleSecuritiesDebtMaturitiesOverOneYearThroughTwoYearsFairvalue
25500000
CY2023Q3 alec Indemnification Agreement Liability
IndemnificationAgreementLiability
0
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10059000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10765000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31256000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
35183000
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.029
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.042
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.013
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.013
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15311144
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14690231
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15311144
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14690231
CY2023Q1 alec Percentage Of Reduction In Workforce
PercentageOfReductionInWorkforce
0.11
CY2023Q1 alec Number Of Reduction In Workforce
NumberOfReductionInWorkforce
30
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
1700000
CY2023Q3 us-gaap Restructuring Reserve
RestructuringReserve
200000
CY2023Q3 us-gaap Restructuring And Related Cost Expected Cost Remaining1
RestructuringAndRelatedCostExpectedCostRemaining1
0

Files In Submission

Name View Source Status
0000950170-23-060270-index-headers.html Edgar Link pending
0000950170-23-060270-index.html Edgar Link pending
0000950170-23-060270.txt Edgar Link pending
0000950170-23-060270-xbrl.zip Edgar Link pending
alec-20230930.htm Edgar Link pending
alec-20230930.xsd Edgar Link pending
alec-ex31_1.htm Edgar Link pending
alec-ex31_2.htm Edgar Link pending
alec-ex32_1.htm Edgar Link pending
alec-ex32_2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
alec-20230930_cal.xml Edgar Link unprocessable
alec-20230930_def.xml Edgar Link unprocessable
alec-20230930_lab.xml Edgar Link unprocessable
alec-20230930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
alec-20230930_htm.xml Edgar Link completed
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending