Alumis Inc. - ALMS STOCK NEWS

Alumis (Nasdaq: ALMS) announced two data presentations at ACR Convergence 2024 highlighting their oral treatment ESK-001 for Systemic Lupus Erythematosus (SLE). The presentations demonstrate that ESK-001, a selective allosteric oral tyrosine kinase 2 (TYK2) inhibitor, effectively suppresses both a novel disease biomarker and Type 1 interferons, which are key drivers of SLE. The company's proprietary data analytics platform identified novel pathways in SLE that can be suppressed through TYK2 inhibition. The Phase 2b LUMUS study in SLE is ongoing, with top-line data expected in 2026.

Alumis (NASDAQ: ALMS) reported Q3 2024 financial results and recent achievements. The company presented promising data at EADV for ESK-001 in psoriasis treatment, with 93% of patients achieving PASI 75 at the 40mg twice daily dose. Currently advancing three clinical programs: Phase 3 ONWARD trials for psoriasis, Phase 2b for systemic lupus erythematosus, and Phase 1 for A-005 in neuroinflammatory diseases. Q3 financial results showed cash position of $361.9 million, expected to fund operations into 2026. Net loss increased to $93.1 million compared to $43.4 million in Q3 2023, with R&D expenses at $87.8 million and G&A expenses at $10.6 million.

Alumis (Nasdaq: ALMS) has announced its participation in Guggenheim's Inaugural Healthcare Innovation Conference. President and CEO Martin Babler will engage in a fireside chat on Tuesday, November 12, 2024, at 2:00 pm ET in Boston, MA. The clinical-stage biopharmaceutical company, which focuses on developing oral therapies for immune-mediated diseases using precision approaches, will provide a live webcast of the event on their website's Investors section. The webcast recording will remain accessible for 90 days after the event.

Alumis Inc. (Nasdaq: ALMS) announced positive 28-week data from the open-label extension (OLE) of its Phase 2 STRIDE trial for ESK-001, an oral TYK2 inhibitor for moderate-to-severe plaque psoriasis. The data, presented at the 2024 EADV Congress, showed:

- Dose-dependent sustained increases in PASI responses over time
- 93% of patients on 40 mg twice daily achieved PASI 75
- Favorable safety profile with mostly mild-to-moderate TEAEs
- Biomarker data supporting the 40 mg twice daily dose for Phase 3

The company expects to report full 52-week OLE data in 1H 2025 and is advancing ESK-001 in the Phase 3 ONWARD program. Additional presentations at EADV supported ESK-001's potential as a best-in-class treatment, showing improvements in quality of life and pruritus.

Alumis Inc. (Nasdaq: ALMS), a clinical-stage biopharmaceutical company, has announced its participation in several investor conferences in September 2024. The company, which focuses on developing oral therapies for immune-mediated diseases, will be present at five major healthcare and investment events:

1. Morgan Stanley Global Healthcare Conference (Sept. 5)
2. Wells Fargo Healthcare Conference (Sept. 6)
3. Baird Global Healthcare Conference (Sept. 11)
4. Cantor Fitzgerald Global Healthcare Conference (Sept. 17)
5. Stifel Immunology and Inflammation Virtual Summit (Sept. 18)

Alumis management will engage in various formats including fireside chats, presentations, and one-on-one investor meetings. Webcasts will be available for some events on the company's website.

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.