Alector, Inc.

Good afternoon, ladies and gentlemen, and welcome to the Elector Second Quarter and Mid-Year 2025 Earnings Conference Call. At this time, all participants are in a 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, 2025. The press release is available on our website at www.elector.com. And our 10Q was 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 Mitra, President and Head of Research and Development, Dr. Giacomo Salvadore, Chief Medical Officer, Neil Berkley, Chief Business Officer and Interim Chief Financial Officer, and guest speaker, Dr. Ryan Darby, associate professor of neurology, and director of the Frontal Temporal Dementia Clinic at Vanderbilt University Medical Center, as well as a paid consultant to a lector who will provide clinical context on frontal temporal dementia. 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 on 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, and good afternoon, everyone. As we enter the second half of 2025, electo is approaching an important inflection point. By mid-first quarter, we expect top-line data from our pivotal Phase III in front-tree trial of latosinamab, our most advanced clinical program. This trial represents the first rigorous test of progallonic elevating approach to treating frontotemporal dementia due to the GRN gene mutation, a fatal and rare form of dementia that strikes people decades earlier than Alzheimer's disease and currently has no approved therapy. We designed latazinamab based on clear biological and human genetic rationale to elevate progranulin levels by blocking its internalization and degradation by sotilin receptor. FTD-GRN is directly caused by progranulin deficiency, and restoring it has the potential to alter the cause of the disease. Our earlier studies in participants with FTD-GRN provided encouraging signals both in biomarkers and in clinical progression. In front three will allow us to determine whether those findings hold up in a larger placebo-controlled double-blinded trial. Together with our partner GSK, we are advancing lunch readiness activities to help ensure we are well-positioned to support the potential commercializations of ratosinema. Additionally, we are also excited about our late stage clinical program in early Alzheimer's disease, where we are advancing AL-101, our second progranulone elevating antibody, which is currently in phase two trial. There is a strong genetic and biological rationale for the role of progranulone in Alzheimer's disease. Lots of function mutations in progranulone have been shown to increase the risk of Alzheimer's disease in humans, while overexpression of progranoline has been shown to be protective in animal models of Alzheimer's disease. Enrollment of this phase II trial was completed in April, and trial completion is expected in 2026. AL-101 shares a similar mechanism with latosinamab, but its pharmacological properties makes it suitable for more prevalent neurodegenerative diseases. In parallel, we are investing in a research and preclinical pipeline designed to fuel our future. These programs include our proprietary anti-amyloid beta antibody for Alzheimer's disease, an engineered GKs enzyme replacement therapy for Parkinson's disease, and an anti-Tau siRNA for Alzheimer's disease, all enabled by elective brain carriers. our proprietary technology platform that enables us to deliver antibodies, proteins, enzymes, and siRNA across the blood-brain barrier. This opened the door to more effective brain-directed therapies across multiple modalities. Our late-stage clinical programs, combined with our early-stage pipelines enabled by our proprietary blood-brain barrier technology, gives us the opportunity to deliver both near-term catalysts and sustained pipeline momentum. Our goal is to deliver therapies that eradicate neurodegeneration and improve patients' outcomes, and in doing so, build a durable, high-impact biotechnology company. Our commitment to tackling neurodegeneration drives us to engage experts who understand these diseases firsthand It is my pleasure to introduce Dr. Ryan Darby, Associate Professor of Neurology and Director of the Frontotemporal Dementia Clinic at Vanderbilt University Medical Center. Dr. Darby brings deep clinical expertise in frontotemporal dementia and will speak to the urgent unmet need in this disease. Dr. Darby received his undergraduate degree from Princeton University in Psychology and Neuroscience. and his medical degree from Vanderbilt University. He trained in neurology at MGH and Brigham and Women Hospital as part of the partner neurology Harvard Medical School Program. Dr. Darby's research focuses on neurodegeneration's impact on brain networks related to behavior and decision making. His contributions to the field have been recognized with awards such as the Norman Gershwin Prize in Behavioral Neurology. Dr. Darby, thank you for joining us today. I will now turn the call over to you.