RTTNews | Sep 8, 2021 11:00AM EDT

10:59 Wednesday, September 8, 2021 (RTTNews.com) - Shares of clinical-stage biotechnology company Alector, Inc. (ALEC) are trading 17 percent down on Wednesday on news of its top management stepping down from their positions.

The company said in a statement that President and Chief Operating Officer Shehnaaz Suliman and Chief Medical Officer Robert Paul would be stepping down from their respective roles. Both of them will work for a transition period and will be available as advisors till the end of the year.

Sam Jackson, Senior Vice President, Clinical Sciences, will take over as interim Chief Medical Officer until a replacement is found. Jackson has over 15 years experience leading clinical development functions in different companies.

Currently at $22.08, the stock has traded between $9.12 and $43.32 during the past 52 weeks.

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