Alumis, a Phase 3-ready biotech developing kinase inhibitors for immune-mediated diseases, raised $210 million by offering 13.1 million shares at $16, the low end of the range of $16 to $18. The company offered 4.5 million fewer shares than anticipated.
Alumis is initially focused on developing two Tyrosine Kinase 2 (TYK2) inhibitors. Its most advanced candidate, ESK-001, is an oral, highly selective, small molecule, allosteric inhibitor of TYK2. The company plans to initiate Phase 3 pivotal trials of ESK-001 in moderate-to-severe plaque psoriasis in the 2H24. Its second candidate, A-005, is a CNS-penetrant, allosteric TYK2 inhibitor for neuroinflammatory and neurodegenerative diseases. The company initiated a Phase 1 program of A-005 in healthy volunteers in April 2024, and expects to report initial results by the end of the year.
Alumis plans to list on the Nasdaq under the symbol ALMS. Morgan Stanley, Leerink Partners, Cantor Fitzgerald, and Guggenheim Securities acted as joint bookrunners on the deal.
