Alector disclosed that an antibody co‑developed with GSK failed to meet the trial’s clinical endpoints in a late‑stage dementia study, and the company will stop work on the asset. The negative Phase 3 readout produced a sharp market reaction and spurred an immediate restructuring of company priorities. Following the trial miss, Alector announced plans to cut roughly half its workforce and to wind down the failed program while leadership changes and cost reductions are implemented. The company cited the need to refocus R&D and conserve cash while it reassesses its portfolio and partnership arrangements with GSK.