Alector Inc ALEC:NASDAQ

Alector (ALEC) reported Thursday that the first patient has been dosed in a phase 2 study evaluating AL001, which it is developing with GlaxoSmithKline (GSK), to treat patients with amyotrophic lateral sclerosis, a progressive neurodegenerative disorder.

The study is expected to enroll about 45 adult participants with a C9orf72 mutation, the clinical-stage drugmaker said. The primary endpoint is safety, tolerability, pharmacokinetics and pharmacodynamics of AL001.

Shares of Alector are up 7% in late morning trading, while shares of GlaxoSmithKline are down more than 1%.

Price: 23.36, Change: +1.70, Percent Change: +7.88