Alumis Inc. has successfully priced an upsized underwritten public offering of 17.65 million shares of its common stock at $17.00 per share, generating approximately $300.0 million in gross proceeds before underwriting discounts, commissions and expenses. The offering, to be sold entirely by the company, is expected to close on January 9, 2026, subject to customary closing conditions. Underwriters—led by Morgan Stanley, Leerink Partners, Cantor Fitzgerald and Wells Fargo Securities as joint book-running managers, with Baird and Oppenheimer & Co. as co-lead managers—have been granted a 30-day option to purchase up to an additional 2.6475 million shares at the same public offering price, potentially boosting proceeds by about $45.0 million. The transaction was conducted under the company’s shelf registration statement on Form S-3, declared effective by the SEC on August 19, 2025.

Alumis reported that both of its Phase III ONWARD1 and ONWARD2 trials of envudeucitinib, an oral TYK2 inhibitor for moderate-to-severe plaque psoriasis, met all primary and secondary endpoints with p-values below 0.0001. Across the two trials, an average of 74% of patients achieved PASI 75 and 59% achieved static Physician’s Global Assessment 0/1 by Week 16, with responses deepening through Week 24, where approximately 65% reached PASI 90 and over 40% achieved complete clearance (PASI 100). Rapid separation from placebo on PASI 90 was observed as early as Week 4, and the safety profile remained consistent with earlier studies, with most treatment-emergent adverse events being mild to moderate and including headache, nasopharyngitis and upper respiratory tract infections. Alumis plans to submit a New Drug Application to the FDA in the second half of 2026 and to present additional data at an upcoming medical conference.

Following the Phase III successes and the upsized equity raise, Alumis is positioned with roughly $300 million in fresh capital to advance its pipeline. The company anticipates using the proceeds to support the planned NDA submission for envudeucitinib, to initiate broader commercial preparations, and to fund ongoing clinical programs including the Phase 2b LUMUS trial in systemic lupus erythematosus, with topline data expected in Q3 2026. Management highlighted that the strengthened balance sheet and next-generation targeted therapy portfolio—spanning immune-mediated disorders and neuroinflammatory indications—underscore its strategy to establish envudeucitinib as a leading oral option and to accelerate development of subsequent pipeline candidates.