Alumis (ALMS) Leerink’s Global Healthcare Conference 2025 summary

Company overview and strategy

• Focuses on precision immunology, targeting autoimmune diseases using genomics and biology insights.

• Lead molecule ESK-001 targets TYK2, with Phase III in psoriasis and ongoing trials in lupus.

• Recent merger with Xelora will add lonigutamab to the portfolio, broadening pipeline.

• Aims to be well-capitalized with multiple clinical readouts over the next two years.

Clinical development and data highlights

• ESK-001 Phase III psoriasis readout expected Q1 2025; 52-week Phase II data showed high efficacy and strong safety.

• Phase II STRIVE study showed 40% PASI 100, 60% PASI 90, and 80% PASI 75, positioning the molecule as highly competitive.

• No need for dose reduction due to good tolerability, differentiating from competitors.

• Phase I data for brain-penetrant TYK2 inhibitor (A-005) supports advancement to MS studies.

Competitive landscape and differentiation

• ESK-001 offers high efficacy and safety, with convenience advantages over competitors like J&J’s oral IL-23 and Sotyktu.

• No food effect or fasting required, enhancing patient convenience.

• Accelerated Phase III timeline due to rapid enrollment and efficient trial design.

• Phase II open-label extension allowed for a shorter Phase III study, with long-term data expected at launch.