$ALEC
Alector Inc

2019 Q4 Form 10-K Financial Statement

#000156459021008860 Filed on February 25, 2021

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4 2018
Revenue $6.001M $9.145M $27.68M
YoY Change -34.38% 198.86% 641.02%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.58M $4.070M $11.93M
YoY Change 209.09% 100.49% 83.54%
% of Gross Profit
Research & Development $25.76M $24.10M $73.03M
YoY Change 6.89% 122.32% 144.16%
% of Gross Profit
Depreciation & Amortization $1.400M $300.0K $1.000M
YoY Change 366.67% 50.0% 42.86%
% of Gross Profit
Operating Expenses $38.34M $28.16M $73.03M
YoY Change 36.15% 118.8% 100.56%
Operating Profit -$32.34M -$19.02M -$57.29M
YoY Change 70.07%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.820M $1.640M $5.040M
YoY Change 10.98% 5366.67% 2420.0%
Pretax Income -$30.53M -$17.37M -$52.25M
YoY Change 75.76% 77.61% 60.87%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$30.53M -$17.37M -$52.25M
YoY Change 75.72% 77.64% 60.86%
Net Earnings / Revenue -508.7% -189.97% -188.78%
Basic Earnings Per Share
Diluted Earnings Per Share -$449.3K -$246.8K -$758.7K
COMMON SHARES
Basic Shares Outstanding 68.92M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2018 Q4 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $353.1M $290.4M $290.4M
YoY Change 21.59% 793.54%
Cash & Equivalents $89.64M $65.47M $65.50M
Short-Term Investments $263.4M $224.9M $224.9M
Other Short-Term Assets $4.400M $2.800M $2.800M
YoY Change 57.14% 833.33%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $357.4M $293.2M $293.2M
YoY Change 21.92% 25.84%
LONG-TERM ASSETS
Property, Plant & Equipment $33.85M $10.94M $10.90M
YoY Change 209.52% 289.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $676.0K $2.774M $4.200M
YoY Change -75.63% 1300.0%
Total Long-Term Assets $64.48M $15.18M $15.20M
YoY Change 324.66% 390.32%
TOTAL ASSETS
Total Short-Term Assets $357.4M $293.2M $293.2M
Total Long-Term Assets $64.48M $15.18M $15.20M
Total Assets $421.9M $308.4M $308.4M
YoY Change 36.83% 30.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $278.0K $126.0K $100.0K
YoY Change 120.63% -90.91%
Accrued Expenses $18.26M $8.439M $12.90M
YoY Change 116.33% 76.71%
Deferred Revenue $30.17M $34.91M
YoY Change -13.58%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.97M $47.95M $47.90M
YoY Change 29.24% 74.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $493.0K $96.00K $147.3M
YoY Change 413.54% -19.6%
Total Long-Term Liabilities $493.0K $96.00K $147.3M
YoY Change 413.54% -19.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.97M $47.95M $47.90M
Total Long-Term Liabilities $493.0K $96.00K $147.3M
Total Liabilities $227.2M $195.2M $195.2M
YoY Change 16.36% -7.31%
SHAREHOLDERS EQUITY
Retained Earnings -$219.8M -$114.4M
YoY Change 92.09%
Common Stock $7.000K $1.000K
YoY Change 600.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $194.7M -$97.40M $113.1M
YoY Change
Total Liabilities & Shareholders Equity $421.9M $308.4M $308.4M
YoY Change 36.83% 30.62%

Cashflow Statement

Concept 2019 Q4 2018 Q4 2018
OPERATING ACTIVITIES
Net Income -$30.53M -$17.37M -$52.25M
YoY Change 75.72% 77.64% 60.86%
Depreciation, Depletion And Amortization $1.400M $300.0K $1.000M
YoY Change 366.67% 50.0% 42.86%
Cash From Operating Activities -$28.80M -$17.60M $127.5M
YoY Change 63.64% 604.0% -817.26%
INVESTING ACTIVITIES
Capital Expenditures -$1.600M -$400.0K $1.884M
YoY Change 300.0% 300.0% 135.21%
Acquisitions
YoY Change
Other Investing Activities $31.60M $42.90M -$222.2M
YoY Change -26.34%
Cash From Investing Activities $30.00M $42.50M -$224.1M
YoY Change -29.41% -42600.0% 27914.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.500M -1.300M 131.1M
YoY Change -215.38% -874406.67%
NET CHANGE
Cash From Operating Activities -28.80M -17.60M 127.5M
Cash From Investing Activities 30.00M 42.50M -224.1M
Cash From Financing Activities 1.500M -1.300M 131.1M
Net Change In Cash 2.700M 23.60M 34.49M
YoY Change -88.56% -1007.69% -285.57%
FREE CASH FLOW
Cash From Operating Activities -$28.80M -$17.60M $127.5M
Capital Expenditures -$1.600M -$400.0K $1.884M
Free Cash Flow -$27.20M -$17.20M $125.6M
YoY Change 58.14% 616.67% -776.18%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
true
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
77758806
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
61734492
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
28476000
CY2019Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1472000
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
676000
CY2019Q4 us-gaap Assets
Assets
421913000
CY2019Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
278000
CY2019Q4 alec Accrued Clinical Supply Cost
AccruedClinicalSupplyCost
6706000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
18256000
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
30165000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6565000
CY2019Q4 us-gaap Liabilities Current
LiabilitiesCurrent
61970000
CY2019Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
123236000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
41471000
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
493000
CY2019Q4 us-gaap Liabilities
Liabilities
227170000
CY2019Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
79316261
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
69052873
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
79316261
CY2020 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4946000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-190228000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-105385000
CY2020 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
472000
CY2019 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
184000
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-42000
CY2020 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-189756000
CY2018 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-52290000
CY2019 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.71
CY2018 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.62
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
11302788
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
69052873
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21098000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21219000
CY2018 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
alec:CollaborationRevenueMember
CY2018 alec Revenue From Grant
RevenueFromGrant
169000
CY2020 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
59403000
CY2020 us-gaap Operating Expenses
OperatingExpenses
216272000
CY2019 us-gaap Operating Expenses
OperatingExpenses
135623000
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
-195174000
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
-114404000
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
-57288000
CY2019 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
9019000
CY2018 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5040000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
-52248000
CY2019 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-105201000
CY2020 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.45
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-52033000
CY2018 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6925000
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-42000
CY2019 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
798000
CY2019 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
16281000
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
184000
CY2020 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
224511000
CY2020 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
6331000
CY2020 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1179000
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
30522000
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
472000
CY2020 alec Issuance Costs Of Common Stock
IssuanceCostsOfCommonStock
1148000
CY2019 alec Issuance Costs Of Common Stock
IssuanceCostsOfCommonStock
3874000
CY2020 us-gaap Profit Loss
ProfitLoss
-190228000
CY2019 us-gaap Profit Loss
ProfitLoss
-105385000
CY2018 us-gaap Profit Loss
ProfitLoss
-52248000
CY2020 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5870000
CY2019 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3775000
CY2018 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1019000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
30522000
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
16281000
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
6925000
CY2020 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-584000
CY2019 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
4701000
CY2018 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
2745000
CY2020 alec Amortization Right Of Use Asset
AmortizationRightOfUseAsset
1395000
CY2019 alec Amortization Right Of Use Asset
AmortizationRightOfUseAsset
1799000
CY2020 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
238000
CY2019 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1158000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
-97398000
CY2019 alec Proceeds From Payments For Issuance Initial Public Offering
ProceedsFromPaymentsForIssuanceInitialPublicOffering
-170128000
CY2020 alec Proceeds From Issuance Of Common Stock Upon Follow On Public Offering Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockUponFollowOnPublicOfferingNetOfIssuanceCosts
224603000
CY2019 alec Proceeds From Issuance Of Common Stock Upon Follow On Public Offering Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockUponFollowOnPublicOfferingNetOfIssuanceCosts
-92000
CY2019 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
798000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
131146000
CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-107000
CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-39000
CY2018 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-151000
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3839000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
34491000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51441000
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
293000
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1596000
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2498000
CY2019 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
42000
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2409000
CY2020 alec Increase Decrease In Accrued Liabilities And Accrued Clinical Supply Costs
IncreaseDecreaseInAccruedLiabilitiesAndAccruedClinicalSupplyCosts
12232000
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-21098000
CY2020 alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-2407000
CY2019 alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
868000
CY2020 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-21000
CY2019 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
353000
CY2018 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
75000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-166734000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-99308000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
127464000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5032000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15265000
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1884000
CY2020 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
506809000
CY2019 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
529609000
CY2018 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
472235000
CY2020 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
406790000
CY2019 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
496000000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-105051000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
2015000
CY2020Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
32129000
CY2019Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
37621000
CY2020Q4 alec Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
12457000
CY2019Q4 alec Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
11781000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
463000
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
209000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
120125000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
61538000
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:18pt;margin-left:5.24%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;margin-left:5.24%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of 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 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<font style="font-style:italic;">.</font> </p>
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:18pt;margin-left:5.24%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;margin-left:5.24%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 a financial institution. Such deposits may, at times, exceed federally insured limits. </p>
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7288000
CY2020Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
336900000
CY2020Q4 alec Available For Sale Securities Debt Maturities Within One Through Two Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneThroughTwoYearFairValue
64400000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
41138000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39265000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10957000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5413000
CY2020Q4 alec Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
13375000
CY2019Q4 alec Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
6400000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65470000
CY2018Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1472000
CY2020 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
0
CY2019 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
0
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
132300000
CY2020Q4 alec Percentage Of Change In Forecast Of Expected Costs
PercentageOfChangeInForecastOfExpectedCosts
0.07
CY2020 alec Reduction In Revenue Due To Increase In Budget During Year
ReductionInRevenueDueToIncreaseInBudgetDuringYear
6700000
CY2020 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1.00
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
700000
CY2019 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
0
CY2018 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
0
CY2020Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5730000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1094000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2040000
CY2020Q4 alec Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
428000
CY2019Q4 alec Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
3471000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
353000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
615000
CY2020 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
15700000
CY2020 alec Lease Expiration Year
LeaseExpirationYear
2029
CY2020Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P10Y
CY2020 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The lease expires in 2029 with an option to renew for a period of ten years
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
5589000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
5875000
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
446000
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2003000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4592000
CY2020Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
2000000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
2255000
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
1328000
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
68000
CY2020 alec Sublease Income And Reimbursement Of Variable Lease Cost1
SubleaseIncomeAndReimbursementOfVariableLeaseCost1
2288000
CY2019 alec Sublease Income And Reimbursement Of Variable Lease Cost1
SubleaseIncomeAndReimbursementOfVariableLeaseCost1
1263000
CY2020 us-gaap Lease Cost
LeaseCost
5556000
CY2019 us-gaap Lease Cost
LeaseCost
6008000
CY2018 us-gaap Operating Lease Expense
OperatingLeaseExpense
1100000
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y2M12D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
6900000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
3200000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7872000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8171000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8436000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8732000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9037000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
30130000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
72378000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21122000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
51256000
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6925000
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-39948000
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-22081000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-10972000
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
16570000
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
4694000
CY2020 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
8010000
CY2019 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
6530000
CY2018 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
2387000
CY2020 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
2003000
CY2019 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
2044000
CY2018 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
708000
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
353000
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1493000
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1251000
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
51000
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
124000
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
58000
CY2019 alec Income Tax Reconciliation Tax Benefit Recognized On Utilization Of Attributes Previous Reserved
IncomeTaxReconciliationTaxBenefitRecognizedOnUtilizationOfAttributesPreviousReserved
13582000
CY2019 alec Income Tax Reconciliation Deferred Adjustment From Amended Tax Return
IncomeTaxReconciliationDeferredAdjustmentFromAmendedTaxReturn
1073000
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
62280000
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
44748000
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
11346000
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-159000
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-449000
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-4000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
54382000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2223000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1201000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
370000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
13000000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
7319000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
6493000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
105226000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
47053000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
14899000
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
14485000
CY2020Q4 alec Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
6815000
CY2019Q4 alec Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
7495000
CY2020Q4 alec Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
7934000
CY2019Q4 alec Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
6990000
CY2020Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
150000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
14899000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
14485000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
58200000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1507000
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
80000
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1608000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3035000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12928100
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9482126
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
52356372

Files In Submission

Name View Source Status
0001564590-21-008860-index-headers.html Edgar Link pending
0001564590-21-008860-index.html Edgar Link pending
0001564590-21-008860.txt Edgar Link pending
0001564590-21-008860-xbrl.zip Edgar Link pending
alec-10k_20201231.htm Edgar Link pending
alec-20201231.xml Edgar Link completed
alec-20201231.xsd Edgar Link pending
alec-20201231_cal.xml Edgar Link unprocessable
alec-20201231_def.xml Edgar Link unprocessable
alec-20201231_lab.xml Edgar Link unprocessable
alec-20201231_pre.xml Edgar Link unprocessable
alec-ex211_881.htm Edgar Link pending
alec-ex231_6.htm Edgar Link pending
alec-ex311_7.htm Edgar Link pending
alec-ex312_12.htm Edgar Link pending
alec-ex321_11.htm Edgar Link pending
alec-ex322_8.htm Edgar Link pending
alec-ex43_9.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gou0qrw2itv5000001.jpg Edgar Link pending
gou0qrw2itv5000002.jpg Edgar Link pending
gou0qrw2itv5000003.jpg Edgar Link pending
gou0qrw2itv5000004.jpg Edgar Link pending
gou0qrw2itv5000005.jpg Edgar Link pending
gou0qrw2itv5000006.jpg Edgar Link pending
gou0qrw2itv5000007.jpg Edgar Link pending
gou0qrw2itv5000008.jpg Edgar Link pending
gou0qrw2itv5000009.jpg Edgar Link pending
gou0qrw2itv5000010.jpg Edgar Link pending
gou0qrw2itv5000011.jpg Edgar Link pending
gou0qrw2itv5000012.jpg Edgar Link pending
gou0qrw2itv5000013.jpg Edgar Link pending
gou0qrw2itv5000014.jpg Edgar Link pending
gou0qrw2itv5000015.jpg Edgar Link pending
gou0qrw2itv5000016.jpg Edgar Link pending
gou0qrw2itv5000017.jpg Edgar Link pending
gou0qrw2itv5000018.jpg Edgar Link pending
gou0qrw2itv5000019.jpg Edgar Link pending
gou0qrw2itv5000020.jpg Edgar Link pending
gou0qrw2itv5000021.jpg 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
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.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