GSK GSK plc

   By Stephen Nakrosis 
 

Alector Inc. shares touched a 52-week high Friday after the biotechnology company said it would collaborate with GlaxoSmithKline PLC to develop and commercialize antibodies for neurodegenerative diseases.

Alector is set to receive $700 million in upfront payments and up to $1.5 billion in potential milestone payments, profit sharing and royalties from the deal, the company said.

At 11:16 a.m. ET, shares of Alector were trading 71% higher at $38.39. Volume at the time topped 20.8 million shares, above the stock's 65-day average volume of 590,484.

Earlier in the session, Alector's stock reached a 52-week high of $43.32 a share.

-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 02, 2021 11:36 ET (15:36 GMT)

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