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].
ALMS Surges as Envudeucitinib Meets Goals in Plaque Psoriasis Studies