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Immuno-neurology company Alector dips after $175.8M IPO

February 8, 2019 1:56 AM UTC

Alector Inc. (NASDAQ:ALEC) raised $175.8 million in an IPO to support clinical trials of a handful of antibodies for neurologic indications including frontotemporal dementia and Alzheimer's disease.

The immuno-neurology company sold 9.3 million shares at $19, the midpoint of its proposed range. The offering values Alector at $1.3 billion. Underwriters are Morgan Stanley, BofA Merrill Lynch, Cowen and Barclays (see "Alector, Poseida and Anchiano Propose NASDAQ Listings")...

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Alector Inc.