BML Capital Sells Entire $5 Million Stake in Alumis, 250% Rally in Past Year

BML Capital Management sold its entire 1.21 million-share stake in Alumis, a clinical-stage biotech, for $4.83 million in December 2022. The fund's decision to exit was likely due to Alumis' lack of approved products and high R&D spend. Alumis' shares have surged 255.1% over the past year, but the company's cash and marketable securities are still substantial at $377.7 million.