Alumis Reports Third Quarter 2024 Financial Results and Highlights Recent Achievements

Core Insights - Alumis Inc. is advancing its clinical programs, particularly focusing on ESK-001 and A-005, which target immune-mediated diseases through maximal TYK2 inhibition [1][2][4] Clinical Programs - The company is conducting three clinical programs: a global Phase 3 ONWARD trial for ESK-001 in moderate-to-severe plaque psoriasis, a Phase 2b trial for ESK-001 in systemic lupus erythematosus (SLE), and a Phase 1 study for A-005 aimed at neuroinflammatory and neurodegenerative diseases [1][4][5] - ESK-001 has shown promising results in a Phase 2 study, with 93% of patients achieving the primary endpoint of PASI 75 at the highest dose of 40 mg twice daily [4] - A-005 is designed to be a first-in-class CNS inhibitor, with Phase 1 data expected by the end of 2024 [2][5] Financial Performance - As of September 30, 2024, Alumis reported cash and cash equivalents of $361.9 million, sufficient to fund operations into 2026 [5] - Research and development expenses increased to$87.8 million for Q3 2024, up from $37.8 million in Q3 2023, primarily due to clinical milestone payments and increased trial costs [5][10] - The net loss for Q3 2024 was$93.1 million, compared to $43.4 million for the same period in 2023 [5][10] Upcoming Milestones - Key upcoming milestones include the expected Phase 1 data for A-005 by year-end 2024 and the 52-week Phase 2 OLE study data for ESK-001 anticipated in Q1 2025 [2][5] - Topline results for the Phase 3 ONWARD program in psoriasis are expected in the first half of 2026, along with topline data for the SLE Phase 2b trial [5][6] Company Overview - Alumis is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases using a precision approach [7] - The company's lead product candidate, ESK-001, is a selective TYK2 inhibitor, while A-005 is being developed for neuroinflammatory and neurodegenerative conditions [7]