Alector (NASDAQ: ALEC) was one of the most electrifying stocks on the market Friday, experiencing a monster 53% pop in midafternoon trading. This was entirely justified, given the company's announcement of an exciting new collaboration deal.
Friday morning, Alector and pharmaceutical industry giant GlaxoSmithKline (NYSE: GSK) announced a pact under which they will jointly develop and (if all goes well) commercialize a pair of monoclonal antibodies that can aid in the treatment of various neurodegenerative afflictions.
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Why Alector Blasted Higher Today