Alumis (ALMS) investor relations material

Executive summary

• Lead TYK2 inhibitor envu/envudeucitinib achieved 54% PASI 100 at 48 weeks in ONWARD3, setting a new efficacy benchmark for oral therapies in moderate-to-severe plaque psoriasis; NDA submission planned for Q4 2026 and pivotal SLE data expected Q3 2026.

• Prioritizing expansion of the TYK2 franchise into Sjögren's disease, cutaneous lupus erythematosus, and Parkinson's disease, with new trials planned for 2027.

• Completed strategic review of lonigutamab (acquired via ACELYRIN Merger) and decided to pursue strategic alternatives after recording a $41.8M impairment loss.

• Reported net loss of $142.2M for Q2 2026 and $235.3M for the first half of 2026, with an accumulated deficit of $1,137.2M as of June 30, 2026.

Financial highlights

• Q2 2026 revenue was $1.7M, down 38% year-over-year, all from collaboration revenue under the Kaken agreement; no license revenue recognized in Q2 2026.

• Research and development expenses decreased 22% year-over-year to $85.3M in Q2 2026, mainly due to lower clinical trial costs as Phase 3 enrollment completed.

• General and administrative expenses fell 32% year-over-year to $23.4M in Q2 2026, reflecting lower severance and merger-related costs.

• Cash, cash equivalents, and marketable securities totaled $502.3M as of June 30, 2026.

• Net loss was $142.2M for Q2 2026, compared to net income of $59.3M in Q2 2025, which included a $187.9M non-operating gain from a merger.

Outlook and guidance

• NDA submission for envu/envudeucitinib in psoriasis planned for Q4 2026; pivotal SLE data expected Q3 2026.

• Cash runway expected to fund operations and capital expenditures into Q4 2027; significant additional capital will be needed for future development and commercialization.

• Phase 2 biomarker trial for A-005 in Parkinson's disease to begin in 1H 2027; next clinical candidate trial expected in 2027.