Full Press Release Details
Alumis Reports First Quarter 2026 Financial Results and
Highlights Recent Achievements
- Late-breaking oral presentation of Phase 3 envudeucitinib data in moderate-to-severe plaque psoriasis (PsO) at the 2026 American Academy of Dermatology (AAD) Annual Meeting demonstrating early and robust improvements in skin clearance, quality of life, and symptoms -
- Data showed robust PASI responses by Week 16, with significant continued improvements by Week 24 in PASI 90 (68.0%, 62.1%) and PASI 100 (41.0%, 39.5%) -
- Data continue to underscore envudeucitinib's potential as a leading oral therapy for PsO; plans to submit NDA in 4Q 2026 remain on track -
- Potentially pivotal Phase 2b topline data for envudeucitinib in systemic lupus erythematosus (SLE) anticipated 3Q 2026 -
SOUTH SAN FRANCISCO, Calif., May 14, 2026 - Alumis Inc. (Nasdaq: ALMS), a late-stage biopharmaceutical company developing next-generation targeted therapies for patients with immune-mediated diseases, today reported financial results for the quarter ended March 31, 2026, and highlighted recent achievements and upcoming milestones.
"Alumis delivered a focused and productive first quarter, building on the Phase 3 clinical validation of envudeucitinib in moderate-to-severe plaque psoriasis and reinforcing the differentiated potential of maximal TYK2 inhibition," said Martin Babler, President and Chief Executive Officer of Alumis. "Late-breaking Phase 3 data at the 2026 American Academy of Dermatology Annual Meeting demonstrated leading skin-clearance outcomes and meaningful improvements in patient-reported quality-of-life measures, supporting a compelling emerging profile for physicians and patients, if approved, and further strengthening our confidence in envudeucitinib's potential to reshape the psoriasis treatment landscape."
Babler added, "We remain on track for our NDA submission in the fourth quarter of this year, as well as the potentially pivotal LUMUS Phase 2b topline readout in SLE in the third quarter. With continued progress across both indications, envudeucitinib is emerging as a potential pipeline in a pill', supporting expansion into additional immune-mediated diseases. We are evaluating further indications under a unified TYK2 franchise strategy and expect to share further updates later this year."
First Quarter 2026 and Recent Highlights
Envudeucitinib: a next-generation, highly selective oral tyrosine kinase 2 (TYK2) inhibitor, in patients with moderate-to-severe plaque psoriasis
Anticipated 2026 Milestones
1 Based on patients with baseline ss-PGA 3.
First Quarter 2026 Financial Results
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws, including the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "anticipates," "believes," "plans," "seeks," "will" and variations of these words or similar expressions that are intended to identify forward-looking statements. All statements, other than statements of historical facts, including without limitation those regarding the timing of the initiation of clinical trials, including a Phase 1 trial for the Company's next clinical candidate, the timing of clinical data readouts in its ongoing clinical trials, including long-term and safety data, the timing of the Company's planned NDA submission with the FDA for envudeucitinib in moderate-to-severe plaque psoriasis, the expected timing of the presentation of the Company's TYK2 franchise strategy and the evaluation of additional indications, the potential for envudeucitinib to treat moderate-to-severe plaque psoriasis, the potential for envudeucitinib to reshape the psoriasis treatment landscape, systemic lupus erythematosus and other immune-mediated diseases, the Company's plans to explore strategic alternatives for lonigutamab, any expectations regarding the safety, efficacy or tolerability of its drug candidates and statements regarding Alumis' future plans and prospects, including development of its clinical pipeline and the commencement of additional clinical trials; cash runway; Alumis' participation at upcoming conferences, and any assumptions underlying any of the foregoing, are forward-looking statements. Forward-looking statements in this press release are based on Alumis' current expectations, estimates and projections as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely and readers are cautioned that actual results, levels of activity, safety, efficacy, performance or events and circumstances could differ materially from those expressed or implied in Alumis' forward-looking statements. Such risks and uncertainties include, without limitation, those related to Alumis' ability to advance envudeucitinib or its other programs and to obtain regulatory approval of and ultimately commercialize Alumis' clinical candidates, the timing, costs, and results of preclinical and clinical trials, Alumis' ability to fund development activities and achieve development goals, Alumis' ability to protect its intellectual property and other risks and uncertainties described in Alumis' filings with the Securities and Exchange Commission (SEC) under the heading "Risk Factors" and elsewhere in such filings and reports, including any future reports Alumis may file with the SEC from time to time. Alumis explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| Three Months Ended March 31, | ||||||
| (in thousands) | 2026 | 2025 | ||||
| Revenue: | ||||||
| License revenue | $ | - | $ | 17,389 | ||
| Collaboration revenue | 1,741 | - | ||||
| Total revenue | 1,741 | 17,389 | ||||
| Operating expenses: | ||||||
| Research and development expenses | 81,540 | 96,622 | ||||
| General and administrative expenses | 18,610 | 22,295 | ||||
| Total operating expenses | 100,150 | 118,917 | ||||
| Loss from operations | (98,409) | (101,528) | ||||
| Other income (expense): | ||||||
| Interest income | 5,349 | 2,609 | ||||
| Other income (expenses), net | 7 | (44) | ||||
| Total other income (expense), net | 5,356 | 2,565 | ||||
| Net loss | $ | (93,053) | $ | (98,963) | ||
| Other comprehensive income (loss): | ||||||
| Unrealized gain (loss) on marketable securities, net | (655) | (48) | ||||
| Total comprehensive loss | $ | (93,708) | $ | (99,011) |
CONDENSED CONSOLIDATED BALANCE SHEETS
| March 31, | December 31, | |||||
| (in thousands) | 2026 | 2025 | ||||
| Assets | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 63,885 | $ | 89,670 | ||
| Restricted cash | 86 | 82 | ||||
| Marketable securities, current | 459,058 | 218,831 | ||||
| Research and development prepaid expenses | 3,345 | 2,909 | ||||
| Other prepaid expenses and current assets | 6,033 | 6,740 | ||||
| Total current assets | 532,407 | 318,232 | ||||
| Restricted cash, non-current | 1,302 | 1,301 | ||||
| Marketable securities, non-current | 46,603 | - | ||||
| Property and equipment, net | 17,534 | 18,190 | ||||
| Intangible assets | 50,959 | 50,959 | ||||
| Operating lease right-of-use assets, net | 15,952 | 16,971 | ||||
| Other assets, non-current | 6,831 | 6,287 | ||||
| Total assets | $ | 671,588 | $ | 411,940 | ||
| Liabilities and Stockholders' Equity | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 11,587 | $ | 10,106 | ||
| Research and development accrued expenses | 35,959 | 34,781 | ||||
| Other accrued expenses and current liabilities | 12,588 | 22,303 | ||||
| Deferred revenue, current | 6,328 | 1,458 | ||||
| Operating lease liabilities, current | 4,442 | 4,670 | ||||
| Total current liabilities | 70,904 | 73,318 | ||||
| Operating lease liabilities, non-current | 31,222 | 32,244 | ||||
| Deferred tax liability | 2,140 | 2,140 | ||||
| Share repurchase liability | 94 | 123 | ||||
| Deferred revenue, non-current | - | 2,611 | ||||
| Other liabilities, non-current | 207 | 207 | ||||
| Total liabilities | 104,567 | 110,643 | ||||
| Stockholders' equity: | ||||||
| Preferred stock | - | - | ||||
| Common stock | 12 | 10 | ||||
| Additional paid-in capital | 1,562,405 | 1,202,975 | ||||
| Accumulated other comprehensive income (loss) | (467) | 188 | ||||
| Accumulated deficit | (994,929) | (901,876) | ||||
| Total stockholders' equity | 567,021 | 301,297 | ||||
| Total liabilities and stockholders' equity | $ | 671,588 | $ | 411,940 |
Alumis Contact Information
Red House Communications