Alector, Inc. named Neil Berkley its new Chief Financial Officer, effective December 10, 2025, while he continues to serve as Chief Business Officer. The dual‑role appointment was announced on December 12, 2025, and signals a move toward greater financial stewardship as the company navigates a critical period of platform validation and partnership exploration.
Berkley joined Alector in March 2024 as Chief Business Officer and had been acting CFO since June 2025. With more than twenty years of experience in corporate strategy, finance, and business development across early‑ and late‑stage biotechnology firms, he brings a deep understanding of the company’s commercial and financial dynamics. His background in managing capital allocation and driving growth in the biotech sector positions him to guide Alector through its current financial challenges and future expansion plans.
Alector’s Q3 2025 financial results underscored the urgency of the CFO appointment. Collaboration revenue fell to $3.3 million, a 78% decline from $15.3 million in Q3 2024, while the company posted a net loss of $34.7 million. Cash, cash equivalents, and investments stood at $291.1 million as of September 30, 2025, providing a runway through 2027. In October 2025, Alector announced a 47% workforce reduction, a move aimed at tightening operating costs amid the revenue downturn.
The appointment reflects management’s focus on disciplined cash management and strategic capital allocation. By retaining his CBO responsibilities, Berkley will align business development with financial planning, ensuring that partnership opportunities and platform validation efforts are supported by robust financial oversight. The dual role is intended to strengthen governance during a period when the company’s Alector Brain Carrier platform is undergoing critical validation milestones and when potential collaborations could reshape its revenue mix.
Market reaction to the announcement was modestly positive. Alector’s stock closed at $1.49 on the day of the announcement, up 2.05% from the prior close, and trading volume exceeded the 20‑day average, indicating heightened investor interest. Analyst sentiment was mixed, with some upgrades and others downgrades reflecting the company’s ongoing financial headwinds and the uncertainty surrounding its clinical pipeline.
In summary, Alector’s decision to appoint Neil Berkley as CFO while he remains Chief Business Officer underscores the company’s commitment to strengthening financial governance and capital discipline. The move is expected to support the company’s strategic initiatives, including platform validation and partnership development, as it navigates a challenging financial landscape.
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