Buy ALEC by Jan 6, 2027.

I’ve been digging into ALEC over the last few days and honestly, the story has changed quite a bit recently. The big news was the Genentech deal for AL050. Genentech is paying Alector $100M upfront for worldwide rights to AL050, with up to another $1.17B in development/regulatory/commercial milestones + royalties if the program eventually succeeds. Obviously, nobody should value the $1.17B as cash today. Most of that money is still dependent on the drug actually working and hitting future milestones. …