Alumis Inc. has priced an upsized underwritten public offering of 17.65 million shares of common stock at $17.00 per share, resulting in approximately $300 million in gross proceeds before underwriting discounts, commissions and expenses. The company will use the proceeds to advance its clinical-stage pipeline, which includes envudeucitinib for immune-mediated disorders and lonigutamab for thyroid eye disease, as well as to fund regulatory activities and general corporate purposes.

The underwriters—Morgan Stanley, Leerink Partners, Cantor Fitzgerald and Wells Fargo Securities—have been granted a 30-day option to purchase up to an additional 2.6475 million shares at the public offering price, less discounts and commissions. Baird and Oppenheimer & Co. are serving as co-lead managers. The offering is expected to close on January 9, 2026, subject to customary closing conditions.

With the public offering proceeds, Alumis will support its planned New Drug Application submission for envudeucitinib targeted for later in 2026 and ongoing Phase III studies in plaque psoriasis and systemic lupus erythematosus. The enhanced cash position bolsters the company’s ability to execute its precision-medicine strategy leveraging proprietary data analytics to develop oral TYK2 inhibitors and pipeline assets for neuroinflammatory and neurodegenerative diseases.