Alumis Inc. (ALMS) reported year-end 2025 financial results and outlined recent achievements across its TYK2-inhibitor pipeline, led by Envudeucitinib, its late-stage oral therapy for immune-mediated diseases.
The company said 2025 marked a pivotal year, driven by positive Phase 3 ONWARD1 and ONWARD2 results in moderate-to-severe plaque psoriasis, showing high rates of skin clearance and a favorable safety profile.
Alumis plans to submit an NDA for Envudeucitinib in the second half of 2026.
The company is also advancing Envudeucitinib in systemic lupus erythematosus (SLE), with potentially pivotal Phase 2b topline data expected in the third quarter of 2026. Additional Phase 3 psoriasis ONWARD1 and ONWARD2 data will be presented at the American Academy of Dermatology (AAD) Annual meeting later this month.
Alumis strengthened its balance sheet with a $345.1 million public offering in January 2026, supporting expansion of its TYK2 franchise. The company is evaluating additional immune-mediated indications for Envudeucitinib and its second TYK2 program, A-005, with a unified franchise strategy update planned for the second quarter of 2026.
For 2025, Alumis reported $24.1 million in revenue, primarily from its collaboration with Kaken Pharmaceutical Co., Ltd.
Research and development expenses rose to $386.0 million from $265.6 million reflecting increased clinical activity and merger-related costs.
Net loss narrowed to $243.3 million, compared with $294.2 million in 2024.
The company ended the year with $308.5 million in cash, cash equivalents and marketable securities, and expects its current cash plus offering proceeds to fund operations into the fourth quarter of 2027.
ALMS has traded between $2.76 and $30.60 over the past year. The stock is currently trading at $25.17, down 0.80%.
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