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Alumis Inc. reports clinical, financing and corporate updates as a late-stage biopharmaceutical company developing next-generation targeted therapies for immune-mediated diseases. Its pipeline centers on oral TYK2 inhibitors, including envudeucitinib for systemic immune-mediated disorders such as moderate-to-severe plaque psoriasis and systemic lupus erythematosus, and A-005 for neuroinflammatory and neurodegenerative diseases. The company also lists lonigutamab, a subcutaneously delivered anti–insulin-like growth factor 1 receptor therapy for thyroid eye disease, and preclinical programs identified through its precision approach.
Recurring ALMS news includes envudeucitinib clinical data from the ONWARD and STRIDE programs, disease-biomarker presentations, financial results, investor conference communications and common-stock financing activity.
Alumis Inc. (Nasdaq: ALMS) reported its Q2 2024 financial results and recent achievements. Key highlights include:
1. Initiated ESK-001 Phase 3 ONWARD clinical program for moderate-to-severe plaque psoriasis.
2. Started Phase 1 clinical trial for A-005 in healthy participants.
3. Completed IPO and private placement, raising $250M in gross proceeds.
4. Cash position of $209.5M as of June 30, 2024, expected to fund operations into 2026.
5. Q2 2024 financials: R&D expenses $48.6M, G&A expenses $7.6M, net loss $56.5M.
6. Upcoming milestones include ESK-001 Phase 2 OLE data update in psoriasis (Q3 2024) and A-005 Phase 1 clinical trial data (end of 2024).
Alumis Inc. (Nasdaq: ALMS) has initiated the ONWARD Phase 3 clinical program for ESK-001, an oral TYK2 inhibitor, in moderate-to-severe plaque psoriasis. The program includes two identical 24-week global trials (ONWARD1 and ONWARD2) and a long-term extension trial (ONWARD3). The co-primary endpoints are PASI 75 and sPGA 0/1 score at 24 weeks, which will serve as the basis for U.S. regulatory submission.
The pivotal program is supported by positive Phase 2 STRIDE clinical data and an ongoing open-label extension study. Topline data is anticipated in 2026. ESK-001 aims to address the unmet need for an oral treatment that delivers high efficacy without compromising safety in psoriasis patients. The company is also evaluating ESK-001 in a Phase 2b trial for systemic lupus erythematosus and exploring its potential in other autoimmune indications.
Alumis, a clinical-stage biopharmaceutical company, has priced its initial public offering (IPO) at $16.00 per share for 13,125,000 shares. The company has also provided a 30-day option for underwriters to purchase an additional 1,968,750 shares. Trading on Nasdaq is set to begin on June 28, 2024, under the symbol 'ALMS', with the offering expected to close on July 1, 2024. Concurrently, Alumis will sell 2,500,000 shares in a private placement to AyurMaya Capital Management Fund at the same price.
The total expected gross proceeds from both the IPO and the private placement are projected to be $250 million, excluding underwriters' exercise options. The private placement is subject to a 180-day lock-up agreement and will close by July 22, 2024, contingent on the IPO's closure. Leading the IPO are Morgan Stanley, Leerink Partners, Cantor, and Guggenheim Securities.