Alec­tor cuts 11% of work­force as it dou­bles down on late-stage neu­ro pro­grams part­nered with GSK, Ab­b­Vie

A month af­ter re­veal­ing plans to con­cen­trate on its late-stage im­muno-neu­rol­o­gy pipeline, Alec­tor is trim­ming its head­count by 11%.

The lay­offs will im­pact around 30 em­ploy­ees across the or­ga­ni­za­tion, the com­pa­ny dis­closed in an SEC fil­ing, adding that the plan will “bet­ter align the com­pa­ny’s re­sources” with the new strat­e­gy. With $712.9 mil­lion in cash, cash equiv­a­lents and in­vest­ments as of the end of 2022, Alec­tor be­lieves the re­serves will now get it through 2025.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.