Alumis completes enrollment in lupus treatment phase 2b trial

SOUTH SAN FRANCISCO - Alumis Inc. (NASDAQ:ALMS), a clinical-stage biopharmaceutical company with a market capitalization of approximately $209 million, has completed patient enrollment in its global LUMUS Phase 2b trial evaluating ESK-001 for the treatment of systemic lupus erythematosus (SLE), the company announced Thursday. According to InvestingPro data, the company maintains a healthy current ratio of 3.73, indicating strong short-term liquidity despite ongoing research investments.

The trial enrolled 408 patients who will receive either ESK-001, a highly selective oral tyrosine kinase 2 (TYK2) inhibitor, or placebo for 48 weeks. Topline data from the study is expected in the third quarter of 2026. The company’s stock has shown recent momentum, gaining over 9% in the past week, though it remains significantly below its 52-week high of $13.20.

"Completion of enrollment in our global LUMUS Phase 2b trial for SLE marks a significant milestone for Alumis, and importantly, for the lupus community," said Martin Babler, President and Chief Executive Officer of Alumis, in a press release statement.

The randomized, double-blind, placebo-controlled study will assess improvements in overall disease activity using the British Isles Lupus Assessment Group-based Composite Lupus Assessment (BICLA) at Week 48 as the primary endpoint.

ESK-001 is designed to selectively target key inflammatory drivers like type 1 interferon to maximize inhibition while minimizing off-target effects. According to the company, clinical data from its psoriasis program has shown that ESK-001 achieved full, sustained target inhibition and was generally well tolerated.

The company is also evaluating ESK-001 in adult patients with moderate-to-severe plaque psoriasis in the Phase 3 ONWARD clinical program.

Alumis is a late-stage biopharmaceutical company developing targeted therapies for immune-mediated diseases. The company’s pipeline includes ESK-001, A-005 for neuroinflammatory and neurodegenerative diseases, and lonigutamab for thyroid eye disease.

After completing the trial, eligible patients may participate in an open-label extension or complete a four-week safety follow-up. While the company’s financial health score from InvestingPro indicates some challenges, with rapid cash utilization being a key concern, analysts maintain optimistic price targets well above current trading levels. Investors seeking deeper insights into Alumis’s financial metrics and growth potential can access additional analysis and 8 more key ProTips through an InvestingPro subscription.

In other recent news, Alumis Inc. has completed its merger with ACELYRIN, Inc., a move that is expected to extend its cash runway into 2027 and strengthen its financial position. The merger process was supported by shareholders from both companies, with ACELYRIN stockholders receiving 0.4814 shares of Alumis common stock for each of their shares. This strategic merger aims to enhance Alumis’s capabilities in advancing its late-stage portfolio of targeted therapies. Guggenheim analysts have also resumed coverage on Alumis, upgrading the stock to a Buy rating with a price target of $18.

The analysts noted the company’s progress, particularly highlighting the release of 52-week Phase II Open-Label Extension data for ESK-001, an oral TYK2 inhibitor for psoriasis treatment. The data demonstrated sustained or improved efficacy, with a significant percentage of patients achieving high PASI scores. Additionally, Alumis announced the promotion of Sanam Pangali to Chief Legal Officer and Corporate Secretary, succeeding Sara Klein. These developments collectively underscore Alumis’s ongoing efforts to strengthen its position in the biopharmaceutical industry.

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