Alumis Inc. Plans $301 Million IPO for June 28th (ALMS)

Alumis Inc. (ALMS) is planning to raise $301 million in an IPO on Friday, June 28th, IPO Scoop reports. The company plans to issue 17,700,000 shares at $16.00-$18.00 per share.

Alumis Inc. has a market-cap of $958.3 million.

Morgan Stanley, Leerink, Cantor and Guggenheim Securities served as the underwriters for the IPO.

Alumis Inc. provided the following description of their company for its IPO: “Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”—French for illuminate—and “immunis”—Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule. ESK-001 has demonstrated significant therapeutic effect in our Phase 2 program in patients with PsO, which we define as moderate-to-severe plaque psoriasis (PsO), and is currently being evaluated in additional Phase 2 clinical trials in patients with systemic lupus erythematosus (SLE) and non-infectious uveitis (Uveitis), for which we expect to report results in 2026 and by the end of 2024, respectively. With the favorable results in our Phase 2 clinical trial in PsO, we intend to initiate multiple Phase 3 clinical trials of ESK-001 in the second half of 2024 in this indication. TYK2 genetic mutations are associated with a strong protective effect in multiple sclerosis, motivating us to develop our second product candidate, A-005, as a CNS-penetrant, allosteric TYK2 inhibitor for neuroinflammatory and neurodegenerative diseases. In April 2024, we initiated our Phase 1 program of A-005 in healthy volunteers and expect to report initial results by the end of 2024. We recognize that patients living with immune-mediated diseases need alternatives to currently available therapies. Despite recent advances and innovations in the treatment of immune-mediated diseases, many patients continue to suffer, cycling through currently approved therapies while looking for a solution that alleviates the debilitating impact of their disease without life-limiting side effects. Addressing the needs of these patients is why we exist. We are pioneering a precision approach that leverages insights derived from powerful data analytics to select the right target, right molecule, right indication, right patient, right endpoint and right combination to dramatically improve patient outcomes. We believe that combining our insights with an integrated approach to drug development will produce the next generation of treatments to address immune dysfunction. We are building a pipeline of molecules with the potential to address a broad range of immune-mediated diseases as monotherapy or combination therapies. Within our TYK2 franchise, we are developing our most advanced product candidate, ESK-001, an allosteric TYK2 inhibitor for the treatment of PsO (moderate to severe plaque psoriasis) as well as SLE (systemic lupus erythematosus) and Uveitis. We are developing our second TYK2 product candidate, A-005, as a CNS-penetrant, allosteric TYK2 inhibitor, to offer the therapeutic benefit of TYK2 inhibition within the CNS for a broad range of neuroinflammatory and neurodegenerative diseases. Note: Net loss and revenue are for the 12 months that ended March 31, 2024. (Note: Alumis Inc. filed its S-1/A on June 24, 2024, and disclosed the terms for its IPO: The company is offering 17.65 million shares at a price range of $16.00 to $18.00 to raise $300.05 million. Background: Alumis Inc. filed its S-1 on June 7, 2024, without disclosing terms for its IPO.) “.

Alumis Inc. was founded in 2021 and has 109 employees. The company is located at 280 East Grand Avenue South San Francisco, California 94080 (650) 231-6625 and can be reached via phone at 650) 231-6625 or on the web at http://www.alumis.com/.