Stock falls after mid-stage lupus trial misses primary goals
Shares of biopharma company Alumis ALMS.O fall 54.2% to $9.99 premarket
The company says its mid-stage study of experimental drug envudeucitinib in systemic lupus erythematosus, an autoimmune disease in which the immune system attacks healthy tissues, missed both primary and secondary goals in the overall patient group
A prespecified subgroup of patients with a high interferon gene signature, a marker linked to inflammation in lupus, showed responses on the main efficacy measure and key secondary endpoints
Alumis plans to discuss late-stage development with regulators based on those subgroup results
The company says envudeucitinib was generally well-tolerated and no new safety signals were observed
Alumis remains on track to file for U.S. approval of envudeucitinib in moderate-to-severe plaque psoriasis in Q4 2026
As of last close, the stock was up about 124% year to date
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