Alector, Inc. ALEC

Competitive advantage analysis · healthcare

Corporate Default
Overall moat score
44/100
Developing

About Alector, Inc.

Alector, Inc., a late-stage clinical biotechnology company, develops therapies that is focused on counteracting the devastating progression of neurodegenerative diseases. The company's products under development include Latozinemab (AL001), an investigational human recombinant monoclonal antibody designed to elevate progranulin (PGRN), a protein encoded by the granulin (GRN) gene that regulates lysosomal function, neuronal survival, and inflammation in the brain. Its lead … Full ALEC analysis →

Competitive advantage assessment

Key strengths

  • Strong Interest Coverage & Conservative Leverage Debt serviceability is strong (score 0.75), with robust interest coverage.
  • Scale Supporting Profitability Profitability at scale is strong (score 0.73), demonstrating competitive advantages.

Key risks

  • ROIC Below WACC or Peers ROIC at 7.8th percentile suggests inefficient capital deployment.
  • Revenue Volatility Signals Weak Stickiness Revenue volatility is high (stability score 0.23), suggesting weak customer stickiness.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
49

Where ALEC ranks in Biotechnology

Alector, Inc. ranks #316 of 713 scored companies in Biotechnology by moat score — the top 44%. The widest moat in the group is Royalty Pharma plc (RPRX) at 85/100.

Moat scores for companies ranked near ALEC in Biotechnology
# Company Moat score Rating
312 ACELYRIN, INC. SLRN 44/100 Developing
313 Nutriband Inc. NTRB 44/100 Developing
314 Clearside Biomedical, Inc. CLSD 44/100 Developing
315 Enlivex Therapeutics Ltd. ENLV 44/100 Developing
316 Alector, Inc. ALEC 44/100 Developing
317 Kairos Pharma, Ltd. KAPA 44/100 Developing
318 Anebulo Pharmaceuticals, Inc. ANEB 44/100 Developing
319 Ovid Therapeutics Inc. OVID 44/100 Developing
320 TC BioPharm (Holdings) plc Warr TCBPW 44/100 Developing

See every Biotech / Pre-Revenue company ranked by moat score →

How ALEC scores on the Corporate Default defenses

Pricing Power

Score 49 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 47 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 34 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 20 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 59 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 57 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding ALEC's moat

What is Alector, Inc.'s moat score?

Alector, Inc. (ALEC) scores 44 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #316 of 713 scored companies in Biotechnology, the top 44%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 712 companies in Biotechnology. Its strongest defense is Resilience (59/100) and its weakest is Capital Efficiency (20/100).

How does Alector, Inc. compare with other Biotechnology companies?

Alector, Inc. ranks #316 of 713 scored companies in Biotechnology by moat score. The widest moat in Biotechnology is Royalty Pharma plc (RPRX) at 85/100. The companies ranked closest are Enlivex Therapeutics Ltd. (ENLV) at 44 just above it and Kairos Pharma, Ltd. (KAPA) at 44 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 712 companies in Biotechnology. The defenses are then weighted to produce the overall score out of 100.

Why is Alector, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Alector, Inc.?

The Corporate Default template measures 6 defenses, and ALEC scores: Pricing Power (49), Cost Advantage (47), Customer Stickiness (34), Capital Efficiency (20), Resilience (59), Scale & Market Position (57). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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