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Alumis (ALMS) investor relations material
Alumis Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Focused on developing targeted therapies for autoimmune disorders, with lead programs in TYK2 inhibition and a newly acquired monoclonal antibody for Thyroid Eye Disease via the ACELYRIN Merger.
Completed the ACELYRIN Merger in May 2025, adding significant assets, cash, and new product candidates and personnel.
Advanced late-stage pipeline with key upcoming data readouts for envudeucitinib in plaque psoriasis and systemic lupus erythematosus expected in 2026.
Highlighted progress in multiple programs, including CNS-penetrant TYK2 inhibitor A-005 and anti-IGF-1R therapy lonigutamab.
No products approved for sale; revenue generated from collaboration and license agreements, notably with Kaken Pharmaceutical for envudeucitinib in Japan.
Financial highlights
For the three months ended September 30, 2025: total revenue $2.1M, net loss $110.8M, loss per share $(1.06).
For the nine months ended September 30, 2025: total revenue $22.1M, net loss $150.4M, loss per share $(1.92).
Research and development expenses rose 70% year-over-year to $303.2M for the nine months, and reached $97.8M in Q3 2025, driven by clinical trial progression and ACELYRIN integration.
General and administrative expenses increased 221% year-over-year to $76.3M for the nine months, and were $19.5M in Q3 2025, reflecting higher headcount, severance, and public company costs.
Cash, cash equivalents, and marketable securities totaled $377.7M as of September 30, 2025.
Outlook and guidance
Existing cash and investments expected to fund operations for at least 12 months and support pipeline advancement through multiple clinical milestones into 2027.
Anticipates continued substantial losses as clinical programs advance and integration of ACELYRIN continues.
Plans to report Phase 3 topline results for envudeucitinib in psoriasis in Q1 2026 and Phase 2 lupus results in Q3 2026.
Phase 2 trial initiation for A-005 in multiple sclerosis planned for H1 2026.
What is the strategic rationale for A-005's MS focus?
What drove the R&D expense increase in Q3 2025?
Elaborate on lonigutamab development evaluation
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Q4 202519 Mar, 2026
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Frequently asked questions
Alumis Inc. is a clinical-stage biopharmaceutical company focused on developing and commercializing treatments for autoimmune diseases. The company's research primarily targets allosteric inhibitors of tyrosine kinase 2 (TYK2), with potential applications in treating conditions like psoriasis, systemic lupus erythematosus, and neuroinflammatory disorders. Alumis employs a precision medicine approach to its drug development process, aiming to create targeted therapies for specific immune-related conditions. The company is headquartered in South San Francisco, California, and its shares are listed on the NASDAQ.
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