Alumis Announces Closing of Upsized Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Alumis (Nasdaq: ALMS) closed an upsized underwritten public offering on January 9, 2026, selling 20,297,500 shares of common stock at $17.00 per share, including the full exercise of the underwriters' option to purchase an additional 2,647,500 shares.

Rhea-AI Summary

Alumis (Nasdaq: ALMS) closed an upsized underwritten public offering on January 9, 2026, selling 20,297,500 shares of common stock at $17.00 per share, including the full exercise of the underwriters' option to purchase an additional 2,647,500 shares. The gross proceeds to Alumis were approximately $345.1 million before underwriting discounts, commissions and offering expenses. All offered shares were sold by Alumis under a shelf registration on Form S-3 declared effective on August 19, 2025. Joint book-running managers and co-lead managers were named for the transaction. The company noted prospectus documents are available on the SEC website and from the listed managers.

Positive

• Gross proceeds of approximately $345.1 million
• Offering fully subscribed with 2,647,500-share option exercise
• All shares sold by company, providing direct capital to Alumis
• Offering conducted under an SEC-declared Form S-3 shelf registration effective Aug 19, 2025

Negative

• Issuance of 20,297,500 new shares is dilutive to existing shareholders
• Net proceeds will be reduced by underwriting discounts, commissions and offering expenses

Argus Jan 12 session

+7.82% close to close Open Argus

Details

News Market Reaction – ALMS

On Jan 12, the first trading day after this news, ALMS closed 7.82% above the previous close.

Data tracked by StockTitan Argus for the Jan 12 session.

Market Context

On Jan 12, the first trading day after this news, the stock closed 7.8% above the previous close. A ...

Analysis

On Jan 12, the first trading day after this news, the stock closed 7.8% above the previous close. A strong positive reaction aligns with prior enthusiasm around Alumis’s financing and clinical milestones. Earlier offering-related headlines saw large average moves of 52.86%, so a substantial gain on the closing of this upsized deal would be consistent with that pattern. However, investors have to balance enthusiasm for the added $345.1 million in gross proceeds against dilution from 20,297,500 new shares, which could cap follow-through once the initial momentum subsides.

Key Figures

Shares sold (total): 20,297,500 shares Underwriters’ option shares: 2,647,500 shares Offering price: $17.00 per share +5 more

Shares sold (total)

20,297,500 shares

Total common shares in upsized public offering including option exercise

Underwriters’ option shares

2,647,500 shares

Additional shares from full exercise of option

Offering price

$17.00 per share

Price to the public for the offering

Gross proceeds

$345.1 million

Gross proceeds before discounts and expenses

Prior offering shares

17,650,000 shares

Shares in upsized offering at pricing announcement on Jan 7, 2026

Prior gross proceeds

$300.0 million

Gross proceeds cited at pricing of offering before closing

Current price

$18.155

Price before this closing news, up 1.45% on the day

52-week range

$2.7601–$22.30

Shares trade 18.59% below 52-week high and 557.77% above low

Historical Context

5 past events · Latest: Jan 07

5 events

1. Jan 07

   Offering priced

   24h Move

   +10.4%

   Upsized underwritten offering priced at $17 with ~$300M gross proceeds.

2. Jan 06

   Offering proposed

   24h Move

   +95.3%

   Proposed $175M common stock offering with option for additional $26.25M.

3. Jan 06

   Phase 3 results

   24h Move

   +95.3%

   Positive Phase 3 envudeucitinib data showing strong PASI and sPGA responses.

4. Jan 05

   Conference call

   24h Move

   -7.2%

   Announcement of webcast to discuss ONWARD topline Phase 3 data.

5. Nov 13

   Earnings update

   24h Move

   +0.8%

   Q3 2025 financials with $377.7M liquidity and net loss of $110.8M.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

underwritten public offering, shelf registration statement, form s-3, prospectus supplement, +2 more

6 terms

underwritten public offering financial

"closing of its upsized underwritten public offering of 20,297,500 shares"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

shelf registration statement regulatory

"The public offering was made pursuant to a shelf registration statement on Form S-3"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

form s-3 regulatory

"shelf registration statement on Form S-3, including a base prospectus"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

prospectus supplement regulatory

"A preliminary prospectus supplement and accompanying prospectus relating to the offering"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

base prospectus regulatory

"shelf registration statement on Form S-3, including a base prospectus"

A base prospectus is a detailed document that provides essential information about a financial offering, such as a bond or share issue. It acts like a comprehensive guide for investors, explaining what the investment involves, the risks involved, and how the process works. This helps investors make informed decisions before committing their money.

securities and exchange commission regulatory

"previously filed with the Securities and Exchange Commission (the “SEC”)"

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SOUTH SAN FRANCISCO, Calif., Jan. 09, 2026 (GLOBE NEWSWIRE) -- Alumis Inc. (Nasdaq: ALMS), a clinical-stage biopharmaceutical company developing next-generation targeted therapies for patients with immune-mediated diseases, today announced the closing of its upsized underwritten public offering of 20,297,500 shares of its common stock, including the full exercise of the underwriters' option to purchase an additional 2,647,500 shares, at a price to the public of $17.00 per share. The gross proceeds to Alumis from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $345.1 million. All of the shares in the offering were sold by Alumis.

Morgan Stanley, Leerink Partners, Cantor and Wells Fargo Securities acted as joint book-running managers for the offering. Baird and Oppenheimer & Co. acted as co-lead managers for the offering. 

The public offering was made pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on August 19, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free on the SEC’s website located at http://www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by telephone at (866) 718-1649, or by email at prospectus@morganstanley.com; Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@leerink.com; Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@cantor.com; or Wells Fargo Securities, LLC, Attention: Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@wellsfargo.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Alumis

Alumis is a clinical-stage biopharmaceutical company developing next-generation targeted therapies with the potential to significantly improve patient health and outcomes across a range of immune-mediated diseases. Leveraging its proprietary data analytics platform and precision approach, Alumis is developing a pipeline of oral tyrosine kinase 2 inhibitors, consisting of envudeucitinib (or envu, formerly known as ESK-001) for the treatment of systemic immune-mediated disorders, such as moderate-to-severe plaque psoriasis and systemic lupus erythematosus, and A-005 for the treatment of neuroinflammatory and neurodegenerative diseases. In addition, the pipeline includes lonigutamab, a subcutaneously delivered anti–insulin-like growth factor 1 receptor therapy for the treatment of thyroid eye disease, as well as several preclinical programs identified through this precision approach.

Alumis Contact Information 
Teri Dahlman 
Red House Communications 
teri@redhousecomms.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Alumis (ALMS) sell in the January 9, 2026 offering?

Alumis sold 20,297,500 shares, including a full exercise of a 2,647,500-share option.

What price per share did Alumis (ALMS) receive in the upsized offering?

The public offering price was $17.00 per share.

How much gross capital did Alumis (ALMS) raise from the offering?

Gross proceeds to Alumis were approximately $345.1 million before fees and expenses.

Were the shares in the Alumis (ALMS) offering sold by existing holders or by the company?

All of the shares in the offering were sold by Alumis.

Under what registration was the Alumis (ALMS) offering completed?

The offering was made pursuant to a shelf registration on Form S-3 declared effective on Aug 19, 2025.

Where can investors find the final prospectus for the Alumis (ALMS) offering?

The final prospectus supplement and accompanying prospectus are available for free on the SEC website and from the listed book-running managers.