Alector reported that its GSK‑partnered antibody failed to slow progression in a Phase 3 dementia study, triggering a major corporate retrenchment. The Bay Area biotech said it will discontinue the asset, halve its workforce and execute a strategic refocus after the late‑stage miss. The Phase 3 study missed clinical endpoints despite biomarker effects on plasma progranulin concentrations, according to company disclosures and media reports. Alector’s stock plunged and management announced senior departures; the company framed the move as a necessary reprioritization of R&D resources and pipeline focus. For the neuroscience field, the failure underscores the difficulty of translating promising biological signals into patient benefit in frontotemporal dementia and related indications. Partnered programs and broader R&D portfolios may face renewed scrutiny on go/no‑go criteria and go‑to‑market timing.