Welcome to our dedicated page for Alumis news (Ticker: ALMS), a resource for investors and traders seeking the latest updates and insights on Alumis stock.
Alumis is a cutting-edge biotechnology company that focuses on developing innovative therapies to address unmet medical needs. Specializing in autoimmune diseases, Alumis aims to improve the quality of life for patients through groundbreaking research and clinical trials. The company is dedicated to discovering, developing, and delivering high-quality pharmaceuticals that transform patients' lives.
Founded with a vision to lead the industry, Alumis has made significant strides in drug development. Their core business revolves around discovering novel treatment options that target the underlying causes of autoimmune conditions. Recent achievements include successful Phase II clinical trials for their lead drug candidates, which have shown promising results in efficacy and safety.
Currently, Alumis is engaged in several high-profile projects, collaborating with renowned research institutions and pharmaceutical companies. These partnerships enhance their ability to innovate and bring new therapies to market more efficiently. Financially, Alumis remains robust with substantial funding acquired through various channels including venture capital and strategic investments.
The company's product portfolio features a range of biopharmaceuticals designed to manage and treat autoimmune diseases such as rheumatoid arthritis and lupus. These products are in various stages of development, with some nearing market approval. Alumis's commitment to quality and patient care ensures that their products meet the highest standards.
With a dedicated team of scientists, researchers, and industry experts, Alumis continues to push the boundaries of medical science. Their focus on research and development, combined with a strong financial base and strategic partnerships, positions them as a leader in the biotechnology sector.
The latest news about Alumis reflects their ongoing efforts to advance their research pipeline and bring new therapies to patients. These updates provide investors and stakeholders with crucial insights into the company’s performance and future prospects.
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.
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