Alumis (ALMS) Stock

HC Wainwright has initiated coverage on Alumis Inc. ALMS, a clinical-stage biopharmaceutical company developing oral therapies for immune-mediated diseases.

28-week data show ESK-001 was generally well tolerated and most patients treated with the top dose of 40 mg twice daily achieved PASI 75 Three additional data presentations further support ESK-001's potential to offer a highly differentiated and best-in-class treatment profile for people with moderate-to-severe plaque psoriasis Full 52-week Phase 2 OLE dataset expected 1H 2025; Phase 3 clinical program ongoing SOUTH SAN FRANCISCO, Calif., Sept. 27, 2024 (GLOBE NEWSWIRE) -- Alumis Inc. (Nasdaq: ALMS), a clinical stage biopharmaceutical company developing oral therapies using a precision approach to optimize clinical outcomes and significantly improve the lives of patients with immune-mediated diseases, today announced positive 28-week data from the open-label extension (OLE) period of its Phase 2 STRIDE clinical trial of ESK-001.

Alumis, a recent IPO, has ESK-001, a promising phase 3 TYK2 inhibitor for Psoriasis and SLE, showing superior efficacy and safety over existing treatments. ESK-001's allosteric inhibition offers high selectivity and minimal off-target effects, potentially positioning it as a better alternative to the approved TYK2 inhibitor, Sotyktu. Despite strong midstage trial data and a solid cash runway, the highly competitive market and recent IPO status present significant investment risks.

– Initiated patient dosing in ESK-001 Phase 3 ONWARD clinical program in moderate-to-severe plaque psoriasis – – Initiated Phase 1 clinical trial for A-005 in healthy participants – – Completed IPO and private placement raising gross proceeds of $250M – SOUTH SAN FRANCISCO, Calif., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Alumis Inc. (Nasdaq: ALMS), a clinical-stage biopharmaceutical company developing oral therapies using a precision approach to optimize clinical outcomes and significantly improve the lives of patients with immune-mediated diseases, today reported financial results for the second quarter ended June 30, 2024, and provided a summary of recent corporate achievements and upcoming milestones.