Alector, Inc.

Good afternoon, ladies and gentlemen, and welcome to the Elector second quarter and mid-year 2024 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. As a reminder, this conference call is being recorded. I would now like to turn the call over to Katie Hogan, Senior Director of Corporate Communications and Investor Relations. Please go ahead.

Thank you, Operator, and hello, everyone. Earlier this afternoon, we released our financial results for the second quarter, 2024. The press release is available on our website at www.elector.com. And our 10-Q is filed with the Securities and Exchange Commission this afternoon. Joining me on the call today are Dr. Arnon Rosenthal, co-founder and CEO, Dr. Sarah Kankari-Nitra, President and Head of Research and Development, Dr. Gary Romano, Chief Medical Officer, and Dr. Mark Grasso, Chief Financial Officer. After our formal remarks, we'll open the call for Q&A. I'd like to note that during this call, we'll be making a number of forward-looking statements. Please take a moment to review our slide in the webcast, which contains our forward-looking statement disclosure. And we also encourage you to review our SEC filings for more information. I would now like to turn the call over to Arnon Rosenthal, Chief Executive Officer. Arnon?

Thank you, Katie. Good afternoon, everyone. We appreciate you joining our conference call today. I'll start by highlighting electors' key initiatives during the first half of 2024. Then, I'll invite Gary to discuss our later stage clinical program. Next, Sarah will share the progress we believe we have achieved with Electros Brain Carrier, our proprietary versatile blood bank barrier technology platform. Afterward, Mark will provide an update on our financial results and milestone outlook. During the first half of 2024, we remain committed to advancing our maturing pipeline and are setting the stage for a transformative period ahead. Specifically, we continue to prepare for the data readout from the AL002 phase 2 trial in VOG2 expected in Q4. AL002, our novel TRUMP2 agonist, aims to enhance TRUMP2 signaling and activate the healthy and beneficial role that microglia play in the setting of neurodegenerative diseases. This immunoneurology approach leverages multiple mechanisms of healthy microglia to protect the brain against Alzheimer's disease, potentially offering an efficacy advantage compared to current therapies that target individual misfolded proteins. L002 is the most advanced TRM2-activating candidate in clinical development worldwide, with potential as a monotherapy or as an add-on therapy with anti-amyloids. Today, we will discuss the patient baseline characteristics reported for INVOQ2 trial at the Alzheimer's Association International Conference in July. These characteristics confirm a representative study population that enables testing of the effect of AL002 in early Alzheimer's disease. We will also delve into the multiple clinical trial imaging and biomarkers readouts for the INVOQ-2 trial, our common close design and statistical PMMRM analysis, and our long-term extension study. all of which were designed to strengthen the trial analysis. Additionally, Gary will share our thoughts on what the successful data readout looked like. In February 2024, the FDA granted breakthrough therapy designation to latosinamab for the potential treatment of STD with GRN mutation. You may recall that latuzinamab is a monoclonal antibody that elevates the level of the immune regulatory protein progranulin by blocking sotilin. The breakthrough designation had provided the opportunity for increased interactions with the FDA on this program. And now we have additional clarity on how key biomarkers may support our path to a potential regulatory submission. We will provide more details on this FDA feedback during today's call. Looking ahead, we believe that we are on track for the pivotal phase three data readout from InFRONT3 trial in late 2025, early 2026, and we plan to share more specifics soon. Enrollment continues in the Progress-AD Global Phase II clinical trial of AL-101 for early Alzheimer's disease, with dosing initiated early this year. Like latinuzumab, AL-101 elevates progranoling levels but offers a distinct pharmacokinetics and pharmacodynamic profile suitable for broader indications. Furthermore, in June, we introduced Electro Brain Carrier, ABC, our proprietary blood-brain barrier technology platform. ABC enhances the delivery of therapeutic agents with greater penetration and efficacy at lower doses with the goal of reducing costs and improving patient outcomes. The introduction of ABC represents a significant advancement in our capabilities to address these challenges of drug delivery in neurodegenerative diseases. To summarize, we continue advancing genetically validated first in class and best in class drug candidates for Alzheimer's disease, frontotemporal dementia, and other indications. By targeting genetic pathways Implicated in all degenerative diseases and combining innovative science with emerging technology, we continue to strive for a world where degenerative brain disorders are a relic of the past. At this time, I'll turn the call over to Gary.