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SOUTH SAN FRANCISCO - Alumis Inc. (NASDAQ:ALMS), a biopharmaceutical company focusing on immune-mediated diseases, has announced the completion of its merger with ACELYRIN, Inc. As a result of the merger, trading of ACELYRIN common stock on the NASDAQ Global Select Market has ceased, with ACELYRIN stockholders receiving 0.4814 shares of Alumis common stock for each share they owned. According to InvestingPro data, Alumis currently has a market capitalization of $265.5 million, with analysts setting price targets between $14 and $29.
This strategic move is expected to bolster Alumis’s financial position, providing a cash runway that extends into 2027 and supporting the company’s late-stage portfolio of targeted therapies. Martin Babler, President, CEO, and Chairman of Alumis, expressed optimism about the merger’s potential to advance their pipeline and deliver benefits to patients and stockholders.
Alumis’s pipeline includes oral tyrosine kinase 2 inhibitors, such as ESK-001 for systemic immune-mediated disorders like moderate-to-severe plaque psoriasis and systemic lupus erythematosus, and A-005 for neuroinflammatory and neurodegenerative diseases. The company is also developing lonigutamab, a subcutaneously delivered therapy for thyroid eye disease, alongside several preclinical programs.
Financial advisory services for the merger were provided by Morgan Stanley & Co. LLC to Alumis and Guggenheim Securities, LLC to ACELYRIN. Legal counsel for Alumis was Cooley LLP, while Fenwick & West LLP and Paul Hastings LLP served ACELYRIN.
The announcement contains forward-looking statements about the expected benefits of the merger, Alumis’s clinical pipeline advancement, and the commercialization of its clinical candidates. These statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations.
This report is based on a press release statement from Alumis Inc. For comprehensive financial analysis and additional insights, including 8 more exclusive ProTips and detailed financial metrics, visit InvestingPro.
In other recent news, Alumis Inc. and ACELYRIN, Inc. have received shareholder approval for their merger, which is expected to be finalized in the second quarter of 2025, pending customary closing conditions. Under the revised terms of the merger, ACELYRIN stockholders will receive 0.4814 shares of Alumis common stock for each share they own, increasing their ownership to approximately 48% of the combined company. This adjustment is seen as a move to enhance value for ACELYRIN shareholders while Alumis stockholders will hold about 52%. Alumis’s management communicated that the amended exchange ratio aims to present a more attractive proposition for shareholders. H.C. Wainwright analysts have adjusted their price target for Alumis to $14, maintaining a Buy rating on the company’s shares. The combined entity is expected to have a pro forma cash position of approximately $737 million as of December 31, 2024, supporting operations and key clinical trials into 2027. The merger aims to create a leading late-stage clinical biopharma company with a diversified pipeline, including therapies for plaque psoriasis, systemic lupus erythematosus, and thyroid eye disease. The merger has received unanimous support from the boards of both companies, and stockholders representing significant portions of both companies’ voting stock have agreed to vote in favor of the transaction.
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