Alumis Q3 net loss narrows as R&D expenses decline
ALMS•Alumis reported a third-quarter net loss of $94.88 million as research and development expenses declined. The company said it remains on track to submit an application for envudeucitinib in plaque psoriasis in the fourth quarter of 2026 and expects its cash to fund operations into the fourth quarter of 2027.
1. Quarterly results
Alumis reported a third-quarter net loss of $94.88 million and operating expenses of $100.98 million. Research and development expenses declined after pivotal Phase 3 trials for envudeucitinib were completed, partly offset by higher costs for its ongoing ONWARD3 trial. Collaboration revenue fell from the prior year, while general and administrative expenses increased.
2. Drug development
The company highlighted Phase 3 data showing rapid and durable improvements in plaque psoriasis with envudeucitinib. It remains on track to submit an NDA for the drug in the fourth quarter of 2026 and plans to begin a Phase 2 biomarker trial for A-005 in Parkinson’s disease in 2027.
3. Cash outlook
Alumis expects its cash, cash equivalents and securities to fund operations into the fourth quarter of 2027.
