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SOUTH SAN FRANCISCO – Alumis Inc. (NASDAQ:ALMS), a biopharmaceutical company specializing in oral therapies for immune-mediated diseases, has announced its schedule to present data from a Phase 2 study of its drug candidate ESK-001 at the upcoming American Academy of Dermatology annual meeting. Trading at $4.67, near its 52-week low and down 65% over the past year, the $254 million market cap company updated its timeline for reporting Phase 3 clinical trial data, now expected in the first quarter of 2026. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $17 to $29.
The presentations, slated for March 7-11 in Orlando, Florida, will cover 52-week results from an open-label extension study of ESK-001 in adults with moderate-to-severe plaque psoriasis. Additionally, e-posters will discuss patient-reported outcomes, disease biomarker activity, and pharmacokinetic data for the drug in psoriasis patients.
ESK-001 is an oral tyrosine kinase 2 (TYK2) inhibitor poised to potentially correct immune dysregulation across a spectrum of proinflammatory mediator-driven diseases. While the drug has shown promise in the Phase 2 STRIDE trial and its ongoing long-term extension study, with patients experiencing a dose-dependent sustained improvement in Psoriasis Area and Severity Index (PASI) scores, InvestingPro analysis reveals the company is quickly burning through cash with an EBITDA of -$239.21 million. Despite this, the company maintains a strong liquidity position with a current ratio of 11.26.
The Phase 3 ONWARD clinical program comprises two global, multi-center, randomized, double-blind placebo-controlled trials designed to assess the efficacy and safety of ESK-001. The trials will enroll approximately 840 patients, evaluating the proportion of participants achieving a 75% improvement in PASI scores and sPGA score 0/1 compared to placebo at Week 16. Those completing Week 24 may join the ONWARD3 long-term extension trial to evaluate the durability and maintenance of response and long-term safety.
Alumis is also developing a once-daily modified release oral formulation of ESK-001 to potentially replace the current twice-daily immediate release version. Beyond psoriasis, the company is exploring ESK-001’s application in other autoimmune diseases and is developing another clinical-stage drug, A-005, for neuroinflammatory and neurodegenerative diseases.
The company’s precision data analytics platform supports its pipeline development, aiming to optimize clinical outcomes for patients with immune-mediated diseases. All data presentations will be accessible on Alumis’s website on March 8, 2025. InvestingPro subscribers can access 13 additional ProTips and comprehensive financial health metrics to better understand Alumis’s investment potential and market position.
This article is based on a press release statement from Alumis Inc.
In other recent news, Alumis Inc. announced its upcoming presentation of new data on A-005, a CNS-penetrant TYK2 inhibitor, at the ACTRIMS Forum 2025. The data will highlight A-005’s potential as a novel treatment for neuroinflammatory diseases, with Phase 1 trials showing promising results and paving the way for Phase 2 trials in multiple sclerosis patients. In a significant corporate development, Alumis has approved a new Severance and Change in Control Plan, providing financial stability for employees in the event of certain terminations. Meanwhile, Alumis and ACELYRIN have announced a definitive merger agreement, an all-stock transaction expected to close in the second quarter of 2025. This merger will see Alumis stockholders owning approximately 55% of the combined entity, with a pro forma cash position of about $737 million anticipated to fund operations through 2027. H.C. Wainwright adjusted its price target for Alumis to $19, down from $26, while maintaining a Buy rating, following the merger announcement. The merger is expected to enhance the development of treatments for immune-mediated diseases, combining Alumis’s precision approach with ACELYRIN’s promising treatments. Alumis’s upcoming product candidate, ESK-001, is expected to have Phase 3 topline data by the first half of 2026.
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