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Alumis Inc

Alumis Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of medicines for autoimmune disorders. Its pipeline includes envudeucitinib, a tyrosine kinase 2 (TYK2) inhibitor for plaque psoriasis and systemic lupus erythematosus; A-005, a central nervous system-penetrant allosteric TYK2 inhibitor in Phase 1 for neuroinflammatory and neurodegenerative diseases; lonigutamab, a monoclonal antibody targeting IGF-1R for thyroid eye diseases; and interferon regulatory factor 5 (IRF5) to address immune dysfunction. The company was formerly known as Esker Therapeutics, Inc. and changed its name to Alumis Inc. in January 2022. Alumis Inc. was incorporated in 2021 and is headquartered in South San Francisco, California.

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Biotech & Genomic Medicine

Alumis Plans FDA Talks After LUMUS Misses Endpoints

Alumis Inc. reported that its 408-patient Phase 2b LUMUS trial of envudeucitinib in moderate-to-severe systemic lupus erythematosus did not meet primary or secondary endpoints in the overall population, yet the company plans end-of-Phase 2 meetings with the FDA and European Medicines Agency based on a prespecified subgroup with a high interferon gene signature. In the overall population, BICLA response rates were 40.0%, 42.2%, and 41.0% for the 20-milligram once-daily, 20-milligram twice-daily, and 40-milligram twice-daily regimens, respectively, versus 35.7% for placebo, with p-values of 0.5018, 0.3455, and 0.3740. In the IFNGS-high subgroup, which comprised approximately 59% to 63% of each treatment group, numerical BICLA response rates were 40.7%, 49.5%, and 52.6% for the three doses versus 28.6% for placebo, with covariate-adjusted differences of 11.6, 21.3, and 24.0 percentage points. The company noted that the IFNGS-high share was below the approximately 70% generally expected, and that pharmacodynamic data showed dose-dependent target engagement with maximal suppression at 40 milligrams twice daily. Alumis plans to discuss Phase 3 dose, design, size, and biomarker-based enrollment criteria with regulators, though the subgroup evidence lacks confidence intervals and p-values, and the dose pattern was not uniform across endpoints.
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Biotech & Genomic Medicine

Stifel and Guggenheim Stay Bullish on Alumis

Analysts remain bullish on Alumis, with Stifel and Guggenheim reiterating Buy ratings and raising price targets following clinical updates. Stifel maintained a $44 target after Phase 3 data for envudeucitinib showed deepening PASI responses through week 24, while Guggenheim raised its target from $32 to $34. The consensus 12-month median price target stands at $39.50, implying a nearly 50% upside. Alumis now expects to submit its New Drug Application in the fourth quarter of 2026, a slight shift from earlier guidance.
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