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Alector soars on Genentech deal for experimental Parkinson's drug

By Reuters News11:41 (UTC), 5 October 2026 Updated

** Shares of drug maker Alector ALEC.O surge 44.20% to $2.61 premarket

** Co enters global licensing deal with Genentech for AL050, ALEC's experimental drug for Parkinson's disease

** ALEC grants Genentech exclusive global rights to develop and commercialize AL050

** The deal brings $100 million upfront and is eligible for up to $1.17 billion in milestone payments into 2029 - ALEC

** Co retains ownership of its ABC platform, its technology platform for developing neurodegenerative disease therapies, and full rights for pipeline use

** As of last close, ALEC up 16.03%

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