Alumis Q2 Revenue Down 5% YoY, Cash to Fund Ops into 2027

• Alumis completed Phase 3 ONWARD clinical trials for envudeucitinib in psoriasis. • Phase 2b LUMUS clinical trial for envudeucitinib in SLE completed enrollment. • Merged with ACELYRIN to strengthen financial position. • Cash and marketable securities at $486.3 million, funding operations into 2027.

Alumis Inc. (Nasdaq: ALMS), a clinical-stage biopharmaceutical company specializing in next-generation targeted therapies for immune-mediated diseases, reported its financial results for the second quarter of 2025. The company highlighted significant achievements in its clinical trials and a strategic merger that bolstered its financial position.

Clinical Milestones

Alumis completed patient enrollment in its pivotal Phase 3 ONWARD clinical trial for envudeucitinib (envu) in moderate-to-severe plaque psoriasis. The topline readout for this trial is expected in early Q1 2026. Additionally, the company completed enrollment in its Phase 2b LUMUS clinical trial for envu in systemic lupus erythematosus (SLE), with topline data expected in Q3 2026 [1].

Financial Highlights

As of June 30, 2025, Alumis had $486.3 million in cash, cash equivalents, and marketable securities, sufficient to fund operations into 2027. Revenue for the quarter ended June 30, 2025, was $2.7 million, primarily from collaboration revenue related to a licensing agreement with Kaken Pharmaceutical. Research and development expenses were $108.8 million, up from $48.6 million in the same period last year, driven by increased clinical trial costs and merger-related expenses. General and administrative expenses were $34.5 million, compared to $7.6 million in the prior year, primarily due to transaction costs and personnel-related expenses from the merger with ACELYRIN [1].

Merger with ACELYRIN

Alumis completed its merger with ACELYRIN, Inc., a move aimed at strengthening its financial position and supporting the advancement of its late-stage immunology pipeline. The merger included $382.6 million in cash, cash equivalents, and marketable securities from ACELYRIN. The merger-related expenses totaled $26.8 million for the quarter ended June 30, 2025, including $20.1 million in general and administrative expenses and $6.7 million in research and development expenses [1].

Upcoming Events

Alumis is scheduled to participate in several investor conferences in September 2025, including the Cantor Global Healthcare Conference, the Wells Fargo Healthcare Conference, and the Morgan Stanley Annual Global Healthcare Conference [1].

Forward-Looking Statements

The company anticipates that its research and development expenses will decrease for the remaining quarters of 2025. Alumis continues to expect that its current cash position will support its clinical pipeline and operational needs through 2027 [1].

References

[1] https://finance.yahoo.com/news/alumis-reports-second-quarter-2025-200500179.html
[2] https://www.stocktitan.net/news/GTBP/gt-biopharma-advances-into-cohort-3-of-gtb-3650-phase-1-trial-n21wy46w6itr.html