Alector disclosed that a GSK‑partnered antibody failed its Phase III dementia study, prompting the company to stop development of that asset and cut roughly half its workforce. The failure follows a co‑primary endpoint miss and disappointed investors; Alector said it will refocus its pipeline and leadership while exploring options for remaining programs. The outcome underscores persistent clinical risk in neurodegeneration and the financial consequences for small biotechs when late‑stage assets fail.