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 an additional Phase 2 clinical trial in patients with systemic lupus erythematosus (SLE), for which we expect to report results in 2026. 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 utilize our proprietary precision data analytics platform, biological insights and team of experienced research and development experts to deepen our understanding of disease pathologies, accelerate research and development and increase the probability of clinical success. Our collective insights informed our selection of TYK2 as the target for our two lead programs. Beyond TYK2, our proprietary precision data analytics platform and drug discovery expertise have led to the identification of additional preclinical programs that exemplify our precision approach. 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 were founded in January 2021 as a Delaware corporation under the name FL2021-001, Inc. We changed our name to Esker Therapeutics, Inc. in March 2021, and subsequently to Alumis Inc. in January 2022. Our principal executive offices are located at 280 East Grand Avenue, South San Francisco, California.
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- Bristol Myers Squibb, but for next-generation oral TYK2 autoimmune drugs.
- An early-stage AbbVie or Pfizer, but focused on oral autoimmune treatments.
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- A002 (deucrictibant): An investigational oral TYK2 inhibitor currently in Phase 3 clinical trials for treating plaque psoriasis and psoriatic arthritis.
- A005: An investigational oral TYK2 inhibitor undergoing Phase 2 clinical trials for systemic lupus erythematosus (SLE) and inflammatory bowel disease (IBD).
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Alumis (ALMS) is a clinical-stage biopharmaceutical company focused on discovering and developing oral small molecule medicines for patients with immune-mediated diseases. Its pipeline consists of drug candidates in various stages of clinical trials.
As a clinical-stage company, Alumis does not currently have any approved products on the market for commercial sale. Therefore, the company does not have "major customers" in the traditional sense, whether they be other companies or individual consumers purchasing products or services.
Alumis's operations are primarily funded through equity financing (e.g., from its initial public offering and subsequent investor funding) rather than through commercial product sales or licensing revenue from other companies at this stage of development.
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Martin Babler, President, Chief Executive Officer and Chairman of the Board
Martin Babler served as President and CEO of Principia Biopharma until its acquisition by Sanofi in October 2020. He was also President and CEO of Talima Therapeutics from 2007 to 2011. Prior to that, he held several positions at Genentech, including Vice President, Immunology Sales and Marketing.
John Schroer, Chief Financial Officer
John Schroer joined Alumis in May 2022. He previously served as CFO for ArsenalBio Inc. and as CFO of Translate Bio, which was acquired by Sanofi. Earlier in his career, he held Portfolio Manager and Senior Analyst roles with Allianz Global Investors. He also founded Schroer Capital, LP.
Jörn Drappa M.D., Ph.D., Chief Medical Officer
Jörn Drappa co-founded Viela Bio in 2018, serving as its Head of R&D and Chief Medical Officer until its acquisition by Horizon Therapeutics in March 2021 for $3.1 billion. He was also Chief Medical Officer at Ventyx Biosciences. Dr. Drappa has extensive experience in clinical development programs from his roles at MedImmune/AstraZeneca, Genentech, and Amgen.
Roy Hardiman, Chief Business and Strategy Officer
Roy Hardiman joined Alumis in September 2021 as Chief Business and Legal Officer, transitioning to Chief Business and Strategy Officer in January 2025. Prior to Alumis, he was Chief Business Officer of Principia Biopharma, where he negotiated core collaborations with Sanofi and AbbVie. He also spent nearly two decades at Genentech.
Sanam Pangali, Chief Legal Officer and Corporate Secretary
Sanam Pangali was promoted to Chief Legal Officer and Corporate Secretary in July 2025. She previously held leadership roles at ACELYRIN, Inc., including Chief Legal Officer and Head of People. Her background also includes senior legal roles at Snapdocs, Inc. and Principia Biopharma Inc., through its acquisition by Sanofi.
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The primary clear emerging threat for Alumis (ALMS) stems from the intensifying and advanced competition within the oral TYK2 inhibitor market, targeting immune-mediated diseases.
- Established Competitor: Bristol Myers Squibb's Sotyktu (deucravacitinib) is already approved and on the market for psoriasis, one of Alumis's key target indications. The ongoing market establishment and physician adoption of Sotyktu create a significant hurdle for Alumis's lead candidate, ESK-001, to differentiate and capture market share upon potential approval.
- Advanced Emerging Competitors: Takeda's TAK-279, another TYK2 inhibitor, has recently shown highly positive Phase 2 results in psoriasis and psoriatic arthritis, positioning it as a strong future competitor potentially reaching the market around or even before some of Alumis's indications. Similarly, other companies like Ventyx Biosciences (VTX958) also have TYK2 inhibitors in advanced clinical development, further crowding the competitive landscape.
This situation presents a clear threat as Alumis will need to demonstrate a significantly superior efficacy, safety, or convenience profile for ESK-001 to carve out a meaningful market presence against these well-resourced and clinically advanced rivals.
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Alumis (ALMS) is a biopharmaceutical company focused on developing therapies for immune-mediated diseases, with its main product candidates being ESK-001 (envudeucitinib) and A-005. The addressable markets for their main products or services are as follows:
- Plaque Psoriasis (ESK-001): The global market for psoriasis treatment was valued at approximately $25 billion in 2023 and is projected to grow to $57 billion by 2033. Another estimate states the global market was an estimated $18.8 billion in 2021 and is forecasted to reach $44 billion by 2031.
- Systemic Lupus Erythematosus (SLE) (ESK-001): The global SLE market was valued at approximately $2.7 billion in 2023.
- Multiple Sclerosis (MS) (A-005): The global multiple sclerosis therapeutic market size was valued at around $25.5 billion in 2023 and is estimated to grow to $38.1 billion by 2032. Other estimates show the global market size at $27.39 billion in 2024, projected to reach $38.62 billion by 2030, and $28.28 billion in 2024, projected to grow to $39.39 billion by 2033. The multiple sclerosis therapeutic market in the U.S. is projected to reach $13.3 billion by 2032. North America is identified as the most significant global market shareholder for MS.
Beyond specific indications, Alumis generally targets the broader Autoimmune Disease Therapeutics Market, which was estimated at $214.65 billion globally in 2024 and is expected to reach $231.15 billion in 2025, with a projected growth to $396.32 billion by 2032. Another source indicates the autoimmune diseases market was valued at $127.93 billion in 2024 and is expected to grow to $193.04 billion by 2034.
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Alumis (ALMS) is a clinical-stage biopharmaceutical company with several promising product candidates in its pipeline, primarily focused on immune-mediated diseases. Over the next 2-3 years, the company's revenue growth is expected to be driven by the advancement and potential commercialization of its lead assets, pipeline expansion, and improved formulations.
- Commercialization of Envudeucitinib (formerly ESK-001) for Moderate-to-Severe Plaque Psoriasis: This is Alumis's most advanced product candidate, an oral, highly selective TYK2 inhibitor. The pivotal Phase 3 ONWARD clinical program has completed patient enrollment, with topline data anticipated in the first quarter of 2026. Successful clinical outcomes, regulatory approval, and subsequent market launch of envudeucitinib for plaque psoriasis would be the primary and most immediate driver of significant revenue growth for Alumis.
- Commercialization of Envudeucitinib for Systemic Lupus Erythematosus (SLE): Envudeucitinib is also being evaluated in the LUMUS, a Phase 2b clinical trial for the treatment of systemic lupus erythematosus. Patient enrollment for this trial has been completed, and topline data is expected in the third quarter of 2026. Positive results and progression to later-stage trials, followed by potential regulatory approval, would open another substantial market for Alumis, contributing significantly to future revenue.
- Advancement and Potential Commercialization of A-005 for Neuroinflammatory and Neurodegenerative Diseases: Alumis is developing A-005, a clinical-stage, CNS-penetrant, allosteric TYK2 inhibitor. Positive Phase 1 results have shown that A-005 can cross the blood-brain barrier, supporting its potential in treating neuroinflammatory conditions. The company plans to initiate a Phase 2 trial of A-005 in multiple sclerosis (MS) in the second half of 2025. Successful development of A-005 into later-stage clinical trials and eventual commercialization could provide a distinct revenue stream by addressing a different therapeutic area.
- Pipeline Expansion and Development of Other Candidates: Beyond its lead TYK2 inhibitors, Alumis is leveraging its proprietary precision data analytics platform to identify and advance additional preclinical programs. The company's pipeline also includes lonigutamab, a subcutaneously delivered anti–insulin-like growth factor 1 receptor therapy for thyroid eye disease. Continued progression and potential future commercialization of these or other early-stage assets could contribute to long-term revenue diversification and growth.
- Development and Launch of a Once-Daily Formulation of Envudeucitinib: Alumis is developing a once-daily modified-release oral formulation of envudeucitinib to replace the current twice-daily immediate-release formulation. While not a new product, an improved, more convenient dosing regimen could enhance patient adherence and market adoption, thereby potentially increasing the overall sales and revenue generated by envudeucitinib in its approved indications.
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Share Issuance
- Alumis completed its Initial Public Offering (IPO) on June 27, 2024, issuing 13,125,000 shares of common stock at an initial public offering price of $16.00 per share.
- The company received gross proceeds of $250.0 million from its IPO, which included a concurrent private placement.
- In a private placement concurrent with the IPO, AyurMaya Capital Management Fund, LP, an existing holder, agreed to purchase $40.0 million in shares.
Inbound Investments
- Alumis raised $259 million in Series C financing approximately three months prior to its IPO in June 2024.
- The company's Initial Public Offering (IPO) in June 2024, along with a concurrent private placement, generated gross proceeds of $250.0 million.
- The merger with ACELYRIN Inc., completed on May 21, 2025, significantly strengthened Alumis' balance sheet, extending its cash runway into 2027 with a pro forma cash position of approximately $737 million as of December 31, 2024.
Outbound Investments
- Alumis completed its merger with ACELYRIN Inc. on May 21, 2025, creating a combined entity focused on developing therapies for immune-mediated diseases.
Capital Expenditures
- Alumis reported capital expenditures of -$1.8 million for 2024, -$1.73 million for 2023, and -$4.5 million for 2022.
- Post-merger with ACELYRIN, the combined company's pro forma cash position of approximately $737 million as of December 31, 2024, is expected to fund capital expenditure requirements into 2027.
- Management anticipates that existing cash, cash equivalents, and marketable securities will be sufficient to cover capital expenditure requirements for at least 12 months from June 30, 2025.
