Alector, Inc.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
ALEC$2.53+2.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statem ents of Cash Flows
(In thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(142,929) | $(119,049) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 5,718 | 5,407 |
| Stock-based compensation | 26,658 | 39,463 |
| Amortization of premiums and accretion of discounts on marketable securities | (6,579) | (14,379) |
| Amortization of right-of-use assets | 3,943 | 3,434 |
| Amortization of debt discount and debt issuance costs | 293 | — |
| Impairment loss of right-of-use assets and leasehold improvements | 2,922 | 2,205 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 992 | 5,526 |
| Other assets | 4,158 | 2,874 |
| Accounts payable | (524) | (1,441) |
| Accrued liabilities and accrued clinical supply costs | (12,904) | 340 |
| Payable to collaboration partner | 11,375 | (1,789) |
| Deferred revenue | (21,045) | (100,558) |
| Refund liability to collaboration partner | (50,027) | (46,007) |
| Lease liabilities | (6,585) | (5,792) |
| Other long-term liabilities | 503 | (139) |
| Net cash used in operating activities | (184,031) | (229,905) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (41) | (1,255) |
| Purchase of marketable securities | (271,879) | (467,741) |
| Maturities of marketable securities | 465,536 | 573,559 |
| Sale of marketable securities | 2,981 | 2,568 |
| Net cash provided by investing activities | 196,597 | 107,131 |
| Cash flows from financing activities: | ||
| Proceeds from the exercise of options to purchase common stock | 15 | — |
| Proceeds from issuance of stock from employee stock purchase plan | 217 | 1,043 |
| Proceeds from issuance of common stock, net of issuance costs | 19,983 | 71,108 |
| Proceeds from debt financing, net of discount and issuance costs | — | 9,389 |
| Net cash provided by financing activities | 20,215 | 81,540 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 32,781 | (41,234) |
| Cash, cash equivalents, and restricted cash at beginning of period | 34,867 | 76,101 |
| Cash, cash equivalents, and restricted cash at end of period | 67,648 | $34,867 |
| Non-cash investing and financing activities: | ||
| Interest paid | $855 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.