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LOS ANGELES - ACELYRIN, Inc. (NASDAQ:SLRN), a biopharmaceutical company engaged in developing transformative medicines, announced today that its stockholders have voted in favor of a merger with Alumis Inc. (NASDAQ:ALMS). The approval was granted at a special meeting of stockholders, moving the companies closer to completing a transaction that is expected to finalize in the second quarter of 2025. According to InvestingPro data, Alumis maintains a strong financial position with more cash than debt and a healthy current ratio of 6.01, suggesting solid short-term liquidity.
Under the terms of the merger agreement, ACELYRIN stockholders are set to receive 0.4814 shares of Alumis common stock for each ACELYRIN share they own upon closing. The deal comes as Alumis stock has shown recent momentum, gaining over 20% in the past week, though it remains down more than 50% over the past six months. Mina Kim, CEO of ACELYRIN, expressed gratitude for the stockholders’ support, stating that the merger is anticipated to maximize value by combining two complementary product pipelines and organizations. InvestingPro analysis shows the combined entity would have a market capitalization of approximately $286 million.
The transaction’s final voting results will be disclosed in an upcoming Form 8-K filing with the U.S. Securities and Exchange Commission. Guggenheim Securities, LLC is acting as the financial advisor for ACELYRIN, while Fenwick & West LLP and Paul Hastings LLP are providing legal counsel.
ACELYRIN’s lead program features lonigutamab, a monoclonal antibody in development for treating thyroid eye disease. The merger is expected to enhance the combined clinical pipeline of the two companies.
This strategic move comes amid an industry-wide trend of consolidation as companies seek to pool resources and expertise to accelerate drug development and commercialization. The merger is subject to customary closing conditions, and while the companies look forward to reaping the benefits of their combined efforts, they caution that the process may involve various risks and uncertainties, as outlined in their respective filings with the SEC. Notably, analysts maintain a strongly bullish outlook on Alumis, with InvestingPro showing 8 additional key insights about the company’s financial health and growth prospects available to subscribers.
The information provided in this article is based on a press release statement issued by ACELYRIN, Inc.
In other recent news, Alumis Inc. announced an amendment to its merger agreement with Acelyrin, increasing Acelyrin stockholders’ ownership in the combined company to approximately 48%. Alumis stockholders will now hold about 52% of the merged entity. The merger, expected to close in the second quarter of 2025, aims to enhance the value proposition for Acelyrin shareholders and has received unanimous support from the boards of both companies. Additionally, Alumis has entered into a strategic partnership with Kaken Pharmaceutical to develop and commercialize its TYK2 inhibitor, ESK-001, for dermatological uses in Japan. Under this agreement, Alumis will receive $40 million upfront and could earn up to $140 million in milestone payments, along with tiered royalties on future sales. H.C. Wainwright analysts have adjusted their price target for Alumis to $14, down from $15, while maintaining a Buy rating, following these developments. This adjustment reflects the analysts’ revised financial model after the merger announcement. The collaboration with Kaken is expected to accelerate ESK-001’s path to market in Japan, leveraging Kaken’s expertise in dermatology.
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