Alumis promotes Sanam Pangali to chief legal officer

SOUTH SAN FRANCISCO - Alumis Inc. (NASDAQ:ALMS), a late-stage biopharma company focused on immune-mediated diseases, announced Monday the promotion of Sanam Pangali to Chief Legal Officer and Corporate Secretary. The company, currently trading at $3.60, maintains a strong liquidity position with a current ratio of 3.73 and more cash than debt on its balance sheet. According to InvestingPro analysis, the company’s overall financial health score indicates challenges ahead, with 8 additional key insights available to subscribers.

Pangali, who previously served as Senior Vice President, Legal at Alumis, will now lead all legal and compliance functions, including corporate governance and intellectual property. She succeeds Sara Klein, who is retiring from the company.

Prior to joining Alumis in September 2024, Pangali held leadership roles at ACELYRIN, Inc., most recently as Chief Legal Officer and Head of People. Her previous experience includes positions at Snapdocs, Inc. as General Counsel and at Principia Biopharma as Associate General Counsel through its acquisition by Sanofi.

"She brings a sharp legal and business mind and has already proven to be an invaluable member of our senior executive team," said Martin Babler, President and Chief Executive Officer of Alumis, in a press release statement.

Pangali holds a J.D. from the University of Pennsylvania Carey Law School and a B.A. in Political Science from UC San Diego. She began her legal career at Morrison & Foerster LLP, where she advised clients on financing, mergers and acquisitions, securities and corporate governance matters.

Alumis is developing oral tyrosine kinase 2 inhibitors for immune-mediated disorders and lonigutamab, a subcutaneously delivered therapy for thyroid eye disease. The company’s stock has declined 68% over the past year, with its next earnings report scheduled for August 19, 2025. Investors can access comprehensive financial analysis and Fair Value estimates through InvestingPro.

In other recent news, Alumis Inc. has completed its merger with ACELYRIN, Inc., which is expected to strengthen its financial position, extending its cash runway into 2027. The merger has been approved by the shareholders of both companies, with ACELYRIN stockholders receiving 0.4814 shares of Alumis common stock for each share they owned. Guggenheim has resumed coverage on Alumis with a Buy rating, setting a price target of $18, highlighting the merger and the company’s progress in drug development as significant factors. However, H.C. Wainwright has adjusted its price target for Alumis to $14 while maintaining a Buy rating, following amendments to the merger agreement that slightly altered the ownership stakes. Alumis has made strides in its drug development pipeline, including the release of promising 52-week Phase II data for its psoriasis treatment, ESK-001. The company has also completed patient enrollment for its Phase III ONWARD trials, with results expected in early 2026. Additionally, Alumis is advancing its Phase IIb LUMUS trial for systemic lupus erythematosus and plans to begin Phase II studies for a multiple sclerosis treatment in 2025. These developments reflect Alumis’s strategic efforts to enhance its clinical pipeline and financial stability.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.