Alumis Inc. (NASDAQ:ALMS) is one of the new stocks on the rise. On January 21, Chardan initiated coverage of Alumis with a Buy rating and a $37 price target driven by the significant potential of the company’s late-stage autoimmune pipeline. The firm’s outlook is driven by envudeucitinib, which is a TYK2 inhibitor that recently met all primary and secondary endpoints in two Phase III trials for moderate-to-severe plaque psoriasis. By showing high statistical significance in skin clearance and patient-repor ...

Core Insights - The transaction indicates a significant insider purchase by Srinivas Akkaraju, Director of Alumis, acquiring 588,235 shares for approximately $10.0 million, reflecting a strong belief in the company's future performance [5][6]. Company Overview - Alumis is a clinical-stage biotechnology company focused on developing therapies for autoimmune and neuroinflammatory diseases, leveraging advanced TYK2 inhibitor technology to address unmet medical needs [7]. Transaction Details - The shares were purchased at $17.00 each, which is below recent market prices, suggesting a favorable entry point for the insider [2][6]. - This acquisition is one of the largest recorded for Akkaraju, increasing his cumulative indirect holdings by nearly 47% in a single transaction [4][5]. Market Performance - Alumis' stock has appreciated significantly, with a 206.29% increase over the past year and over 400% in the last three months, indicating strong market confidence [5][8]. - The company recently reported successful phase 3 trial results for envudeucitinib, showing that 65% of patients achieved a 90% or better improvement in psoriasis severity scores [9]. Competitive Landscape - Alumis' psoriasis treatment candidate appears to be more effective than Amgen's Otezla, which had 33% of patients achieving a 75% improvement in similar trials [10].

Core Insights - Alumis Inc. (NASDAQ:ALMS) is recognized as one of the top 14 booming stocks to buy currently, with HC Wainwright & Co. raising its price target from $20 to $40 while maintaining a Buy rating [1][2] Group 1: Trial Results and Drug Approval - The price target adjustment by HC Wainwright & Co. followed promising results from Phase 3 ONWARD1 and ONWARD2 trials, which evaluated the efficacy of envudeucitinib in patients with moderate to severe plaque psoriasis [2] - Both trials successfully achieved their primary and secondary endpoints, demonstrating safe usage and tolerability among patients, who reported significant improvements in quality of life through reduced itching [3] - Alumis Inc. plans to file for FDA approval of envudeucitinib in the latter half of 2026 [3] Group 2: Market Expectations and Analyst Ratings - HC Wainwright & Co. believes the trial results have 'reset expectations' in the oral tyrosine kinase 2 (TYK2) area, indicating a strong likelihood of FDA approval for envudeucitinib, which could significantly boost the company's revenue [4] - Following the trial results, several research firms, including Wells Fargo and Morgan Stanley, have also revised their positions on Alumis Inc. by increasing their price targets [4] - As of January 12, Wall Street analysts have a consensus Strong Buy rating on the stock, with a one-year average share price target of $37.67, representing an upside of 78.62% [5] Group 3: Company Overview - Alumis Inc. is a biopharmaceutical company specializing in developing targeted therapies for immune-mediated diseases [5]

Company Overview - Alumis Inc. is a clinical-stage biopharmaceutical company focused on developing next-generation targeted therapies for immune-mediated diseases [5] - The company utilizes a proprietary data analytics platform and precision approach to enhance patient health and outcomes [5] Recent Offering - Alumis announced the closing of an upsized underwritten public offering of 20,297,500 shares of common stock at a price of $17.00 per share, resulting in gross proceeds of approximately $345.1 million before deductions [1] - The offering included the full exercise of the underwriters' option to purchase an additional 2,647,500 shares [1] Underwriters - Morgan Stanley, Leerink Partners, Cantor, and Wells Fargo Securities served as joint book-running managers for the offering, while Baird and Oppenheimer & Co. acted as co-lead managers [2] Regulatory Compliance - The public offering was conducted under a shelf registration statement on Form S-3, which was previously filed and declared effective by the SEC on August 19, 2025 [3]

Offering Details - Alumis Inc. proposes to issue and sell 17,650,000 shares of its voting common stock, with an additional option for underwriters to purchase up to 2,647,500 additional shares[5]. - The shares have a par value of $0.0001 per share, and the total number of shares outstanding after the offering will be adjusted accordingly[5]. - The Company agrees to sell Firm Shares at a Purchase Price of $15.98 per share[50]. - Underwriters have the right to purchase up to 2,647,500 Additional Shares at the same Purchase Price[51]. - The public offering price for the Shares is set at $17.00 per share, with a concession not exceeding $0.612 per share for certain dealers[52]. - The total number of Firm Shares purchased amounts to 17,650,000 shares[106]. - The total number of shares involved in the offering is 17,650,000, with a total value of approximately $299.05 million[108]. Regulatory Compliance - The company has filed a shelf registration statement with the SEC, which includes a preliminary prospectus related to the shares[6]. - The registration statement has become effective, and there are no pending proceedings that would suspend its effectiveness[9]. - The company confirms that there has been no material adverse change in its financial condition or operations since the last prospectus[16]. - Alumis Inc. is in compliance with all applicable laws and regulations, including environmental laws, and has received all necessary permits[20]. - There are no legal proceedings pending that would materially affect the company or its subsidiaries[17]. - The company has not taken any actions that would violate anti-corruption laws[23]. - The Company and its subsidiaries have conducted operations in compliance with all applicable anti-money laundering laws and regulations[24]. - The Company and its subsidiaries possess all necessary regulatory authorizations to conduct their business, with no significant compliance issues reported[46]. - All clinical studies and trials conducted by the Company are in compliance with applicable Health Care Laws and Regulatory Authorizations, with accurate reporting of results[47]. Financial Statements and Accounting - The Company has maintained compliance with all applicable accounting requirements of the Securities Act, presenting a fair consolidated financial position as of the dates shown[40]. - PricewaterhouseCoopers LLP has certified the Company's financial statements, ensuring they meet the standards set by the Securities Act and the Public Company Accounting Oversight Board[41]. - The Company has filed all required tax returns and paid all necessary taxes, with no adverse tax deficiencies expected to have a material adverse effect[44]. Corporate Governance and Indemnification - The Company agrees to indemnify Underwriters against losses arising from untrue statements or omissions in the Registration Statement or related documents[82]. - Each Underwriter agrees to indemnify the Company for losses related to information they provided for the Registration Statement[83]. - The Company will cover legal expenses for indemnified parties in proceedings related to the Agreement, with certain conditions[84]. - The Company and Underwriters agree on contribution terms for indemnification based on relative benefits received from the offering of Shares[85]. - The indemnified party's expenses related to losses, claims, damages, and liabilities include legal costs incurred during investigations[86]. Lock-Up and Restrictions - The Company is subject to a 60-day lock-up period following the public offering[113]. - The lock-up agreement restricts the undersigned from selling or transferring shares during the Restricted Period without prior written consent[113]. - The undersigned agrees not to make any demand for registration of shares during the Restricted Period[116]. - The Company and Underwriters are relying on the lock-up agreement for the successful completion of the Public Offering[119]. - The undersigned acknowledges that the agreement is irrevocable and binding on heirs and successors[119]. Miscellaneous Provisions - The obligations of the Underwriters to purchase Shares are contingent upon the effectiveness of the Registration Statement[56]. - The Company must provide a comfort letter from independent public accountants, PricewaterhouseCoopers LLP, regarding financial statements[64]. - Lock-up agreements with officers and directors must be in effect on the Closing Date[65]. - The Company is required to amend or supplement the Time of Sale Prospectus if necessary to avoid misleading statements[72]. - The Company will endeavor to qualify the Shares for sale under applicable securities laws as requested by the Underwriters[74]. - The Company will make an earnings statement available covering a period of at least twelve months after the first fiscal quarter following the date of the Agreement[75]. - The Company will incur expenses related to the registration and delivery of Shares, including legal and accounting fees, not exceeding $35,000 for certain counsel fees[76]. - The Company will notify the Representatives if it ceases to be an Emerging Growth Company prior to the completion of the distribution of the Shares[77]. - The Company will not publicly disclose intentions to offer or sell shares during the 60-day Restricted Period without prior written consent from the Underwriters[79]. - The Company may issue shares in connection with mergers or acquisitions, provided that the total does not exceed 10% of the outstanding share capital after the issuance of the Shares[80]. - The Agreement remains effective regardless of termination or investigations by Underwriters or the Company[87]. - Underwriters may terminate the Agreement if trading is suspended or materially limited on relevant exchanges[88]. - If any Underwriter defaults on purchasing Shares, non-defaulting Underwriters are obligated to cover the shortfall up to one-tenth of the total Shares[90]. - The Company will reimburse Underwriters for out-of-pocket expenses if the Agreement is terminated due to the Company's failure to comply[91]. - The Agreement represents the entire understanding between the Company and Underwriters regarding the offering of Shares[92]. - The Company acknowledges that Underwriters act at arm's length and owe no fiduciary duties beyond those specified in the Agreement[93]. - The Agreement is governed by the internal laws of the State of New York[98]. - All communications regarding the Agreement must be in writing and delivered to specified addresses[99].

Company Overview - Alumis Inc. is a clinical-stage biopharmaceutical company focused on developing next-generation targeted therapies for immune-mediated diseases [5] - The company utilizes a proprietary data analytics platform and precision approach to enhance patient health and outcomes [5] Public Offering Details - Alumis announced an upsized underwritten public offering of 17,650,000 shares of common stock priced at $17.00 per share, aiming for gross proceeds of approximately $300.0 million [1] - The offering is expected to close on January 9, 2026, subject to customary closing conditions [1] - Underwriters have a 30-day option to purchase an additional 2,647,500 shares at the public offering price [2] Pipeline and Product Development - Alumis is developing a pipeline of oral tyrosine kinase 2 inhibitors, including envudeucitinib (formerly ESK-001) for systemic immune-mediated disorders like moderate-to-severe plaque psoriasis and systemic lupus erythematosus [5] - The pipeline also features A-005 for neuroinflammatory and neurodegenerative diseases, and lonigutamab, an anti–insulin-like growth factor 1 receptor therapy for thyroid eye disease [5]

Core Insights - Alumis (ALMS) shares increased by 95.3% following the announcement of positive top-line data from two phase III studies, ONWARD1 and ONWARD2, for envudeucitinib, aimed at treating moderate-to-severe plaque psoriasis [1][7]. Study Results - Both ONWARD1 and ONWARD2 studies met all primary and secondary endpoints with high statistical significance, showing envudeucitinib's effectiveness in achieving superior skin clearance compared to placebo [2]. - In the studies, 74% of patients achieved PASI 75 and 59% achieved sPGA 0/1 at week 16, with improvements noted over time; by week 24, approximately 65% achieved PASI 90 and over 40% achieved PASI 100 [3]. Comparison with Competitors - Envudeucitinib demonstrated superior skin clearance compared to Amgen's Otezla (apremilast) across all PASI endpoints at week 24, indicating a competitive edge in the psoriasis treatment market [4]. Stock Performance - Over the past six months, Alumis shares have surged by 366.4%, significantly outperforming the industry average increase of 19.1% [5]. Future Plans - The company plans to submit a New Drug Application (NDA) to the FDA for envudeucitinib in the second half of 2026, with ongoing evaluations in a phase IIb study for systemic lupus erythematosus (SLE) [9]. - Management believes envudeucitinib could transform treatment for IL-23/IL-17-driven diseases, highlighting its potential as a "pipeline-in-a-pill" [10].

Core Insights - Alumis (ALMS) stock surged after positive Phase 3 results for envudeucitinib, a treatment for psoriasis, indicating strong symptom improvement compared to existing therapies [1][3] - The drug met all primary and secondary endpoints, positioning Alumis as a serious competitor in the multibillion-dollar psoriasis market [3][4] - Rapid efficacy onset, with improvements noted as early as week four, suggests potential to redefine treatment standards [4] Market Potential - The psoriasis market is valued at tens of billions of dollars annually, and even modest market penetration could lead to significant upside for Alumis [5] - The company’s pipeline includes additional immunology assets, providing diversification beyond psoriasis [5] Future Outlook - Positive sentiment in the biotech sector is expected to improve by 2026, with bullish options contracts indicating a potential 15% rally for ALMS, possibly reaching around $19 in the next four months [6]

Core Insights - Alumis Inc. (ALMS) experienced a significant stock increase of 95% due to promising results from their lead candidate, envudeucitinib [1] Company Overview - Alumis Inc. is focused on biotechnology, particularly in drug development, with a strong emphasis on innovative therapies and unique mechanisms of action [1] - The company aims to reshape treatment paradigms through first-in-class therapies and platform technologies [1] Market Analysis - The biotechnology sector is characterized by breakthrough science that can lead to substantial returns, but it also requires careful scrutiny of the underlying science and market dynamics [1] - The analysis of clinical trial design, competitive landscape, and potential market opportunities is crucial for understanding investment prospects in this sector [1]

Core Viewpoint - Alumis Inc. is a biopharmaceutical company focused on developing therapies for immune-mediated diseases, currently in late-stage clinical trials for moderate-to-severe plaque psoriasis with its drug envudeucitinib [1] Group 1: Stock Performance - The stock for ALMS is currently priced at $15.90, reflecting a significant increase of 91.33% with a change of $7.59 [3] - The stock has fluctuated between a low of $15.47 and a high of $22.30, marking its highest price over the past year, with the lowest price being $2.76 [3][6] - Derek Archila from Wells Fargo set a new price target for ALMS at $39, indicating a potential upside of 70.16% from its trading price of approximately $16.97 at the time [2][6] Group 2: Market Position - Alumis has a market capitalization of approximately $1.66 billion, reflecting its position in the biopharmaceutical industry [4][6] - The trading volume for the day is 53.93 million shares on the NASDAQ exchange, indicating heightened activity and interest in the stock [4][6] Group 3: Clinical Program - The announcement of the Phase 3 ONWARD clinical program results is a significant milestone for Alumis, with a conference call and webcast scheduled to discuss the results [5]