ALUMIS INC. (ALMS)

Alumis Inc. is a clinical-stage biopharmaceutical company whose mission is to improve patients' lives by replacing broad immunosuppression with targeted therapies for immune-mediated diseases. It uses a proprietary precision data analytics platform, together with genetic and translational insights, to select targets, molecules, indications, patients and endpoints. The company was incubated by Foresite Labs and incorporated in Delaware on January 29, 2021, and it has changed its name twice since then. In May 2025 it completed a merger with ACELYRIN, Inc., issuing 48,653,549 shares of common stock in a transaction valued at about $238.1 million to acquire net assets with a fair value of $426.0 million.

Its pipeline is built around a Tyrosine Kinase 2 (TYK2) inhibitor franchise. The lead candidate is envudeucitinib (envu, formerly ESK-001), a potent, selective, allosteric TYK2 inhibitor. It is in an ongoing Phase 2 open-label extension and a Phase 3 long-term extension in moderate-to-severe plaque psoriasis, and in a Phase 2 trial in systemic lupus erythematosus, with topline results expected in the third quarter of 2026. The company reported positive topline results from the Phase 3 ONWARD1 and ONWARD2 psoriasis trials in the first quarter of 2026. Envu met all primary and secondary endpoints, with an average of 74% of patients reaching PASI 75 and 59% reaching sPGA 0/1. It plans to submit a New Drug Application to the FDA for psoriasis in the second half of 2026. The second TYK2 candidate, A-005, is a central nervous system-penetrant allosteric inhibitor aimed at neuroinflammatory and neurodegenerative diseases, and it began Phase 1 testing in healthy volunteers in April 2024. Through the ACELYRIN merger the company also acquired lonigutamab, a subcutaneously delivered monoclonal antibody targeting IGF-1R for thyroid eye disease, and it is evaluating the development program in a capital-efficient manner. Additional preclinical programs include targets such as interferon regulatory factor 5 (IRF5).

The company targets patients with immune-mediated diseases who cycle through existing therapies without adequate relief. Initial indications are psoriasis and lupus, and it is evaluating further immune-mediated indications for envu and CNS and peripheral diseases for A-005. Potential CNS indications include multiple sclerosis, Alzheimer's disease, ALS, optic neuritis, neuromyelitis optica and Parkinson's disease. The company also considers envu well suited to future combination therapies. The text mentions no commercial products or revenue-generating customers.

Its strategy is to maximize envu's potential across indications, expand the TYK2 franchise with A-005, advance earlier-stage candidates into the clinic, and apply its precision approach to speed development and improve the probability of success. It also plans to evaluate strategic collaborations to expand its indications and commercial reach. The text does not describe suppliers, manufacturing, competitors beyond other TYK2 inhibitors, or headquarters location.