WASHINGTON (dpa-AFX) - Alector Inc., a San Francisco-based clinical stage biopharmaceutical company, Monday said it has filed for an initial public offering seeking to raise millions in funds.
Alector is focused on developing therapies to treat neurodegenerative diseases such as dementia. The company reported a net loss of $34.9 million on revenue of $18.5 million as of September 2018.
The company plans to list its shares on the Nasdaq and to trade under the ticker ALEC.
The company has hired Morgan Stanley, Bank of America Merrill Lynch, Cowen and Barclays as underwriters.
The company expects the proceeds to to support its operations, establish a public market for common stock and facilitate future access to the public capital markets.
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