Alumis (ALMS) investor relations material

Company overview and pipeline

• Focus on precision immunology with lead asset ESK-001, a TYK2 inhibitor in late-stage trials for psoriasis and lupus.

• Phase 3 psoriasis readouts expected in early Q1 next year; lupus phase 2b readout in Q3 next year.

• Additional assets include A-005 (brain-penetrant TYK2 for MS) and lonigutamab for thyroid eye disease, with phase 1 data for a new asset expected next year.

• Merger with Acceleron provides cash runway into 2027, supporting key clinical readouts.

TYK2 class and competitive landscape

• TYK2 inhibition shows strong genetic and clinical rationale, with efficacy linked to high target inhibition.

• Early negative perceptions of the class were due to less effective first-generation molecules; newer agents, including ESK-001, show improved outcomes.

• ESK-001 differentiates with a favorable safety profile, no need for dose reduction, and sustained target coverage.

• Competitors include Bristol Myers Squibb, Incyte, InnoCare, and Takeda, with ongoing data readouts expected to shape the market.

Clinical trial design and expectations

• Phase 3 psoriasis trials use 16-week primary endpoints against placebo and active control, with long-term extension for durability data.

• Achieving PASI 75/90/100 rates at 16–52 weeks in line with dermatologist expectations would position ESK-001 as highly competitive.

• Trial design allows for regulatory submission with six months of data, providing a timing advantage.