BUZZ - Biotech company Alector shares rise after completing $75 million stock issuance at a premium

October 16 - ** Shares of biotechnology company Alector (ALEC.O) rose 6.8% to $2.04 in pre-market trading on Friday after the company priced its $75 million follow-on offering

** ALEC sold 36.6 million shares at $2.05 per share (link), 7.3% higher than Thursday's closing price

** The company said the offering attracted participation from both new and existing investors, including TCGX, BVF Partners, and others

** The company plans to use the net proceeds from the offering for general purposes, including research and development, working capital, capital expenditures, operating expenses, and potential acquisitions

** Morgan Stanley and BTIG acted as joint book-running managers

** On October 5, ALEC shares ultimately closed up about 10% at $1.99. Previously, the company (link) announced that Swiss pharmaceutical company Roche's (ROPC.S) subsidiary Genentech would pay up to $1.27 billion for the licensing rights to ALEC's experimental Parkinson's disease drug AL050

** ALEC, headquartered in South San Francisco, California, has about 111.7 million shares outstanding

** As of Thursday's close, the stock had gained 30% over the past three months

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