Alector: Q1 Earnings Snapshot
By AP News
Published - May 04, 2023, 06:30 PM ET
Last Updated - Jun 21, 2023, 10:35 PM EDT
SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Alector Inc. (ALEC) on Thursday reported a loss of $45.9 million in its first quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 55 cents.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 75 cents per share.
The biotechnology company posted revenue of $16.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $9.2 million.
