Alector lays off 17% of staff after AbbVie-partnered Alzheimer's asset fails phase 2

Alector’s AbbVie-partnered Alzheimer's disease asset has failed to slow disease progression in a phase 2 study, the latest in a string of investigational meds missing the mark in the indication.

The California-based biotech is stopping a related long-term extension study and laying off 17% of its workforce, according to a Nov. 25 post-market release.