SOUTH SAN FRANCISCO - Alumis Inc. (NASDAQ: ALMS), a biopharmaceutical company focused on developing oral therapies for immune-mediated diseases, today announced the successful completion of a Phase 1 clinical trial for its drug candidate A-005. With a market capitalization of $459 million, InvestingPro analysis suggests the company is slightly undervalued at its current trading price of $8.43. The company maintains a strong liquidity position, with a current ratio of 11.26, indicating robust short-term financial stability. The trial assessed the safety, tolerability, and pharmacokinetics of the drug, a TYK2 inhibitor intended to treat multiple sclerosis (MS) and potentially other neuroinflammatory conditions.
The trial involved 135 healthy participants and demonstrated that A-005 was well tolerated, with no serious adverse events reported. A key finding was A-005's ability to cross the blood-brain barrier, which is crucial for treating central nervous system (CNS) conditions. Analysts maintain a strong buy consensus on Alumis, with price targets ranging from $25 to $38, reflecting significant potential upside. Get deeper insights into Alumis's financial health and growth prospects with InvestingPro, which offers 8 additional exclusive ProTips. The drug achieved significant and prolonged exposure in the cerebral spinal fluid (CSF), with levels comparable to or exceeding those in plasma.
A-005 is the first reported allosteric TYK2 inhibitor to show this level of CNS penetration, which could be pivotal for addressing inflammation within the CNS. The drug's pharmacokinetic profile showed dose-proportional increases in drug exposure, with peak drug concentration and half-lives of up to 12 hours.
The Phase 1 trial also established a pharmacokinetic/pharmacodynamic (PK/PD) relationship, indicating prolonged and maximal TYK2 inhibition in the periphery. These results support the advancement of A-005 to a Phase 2 clinical trial for MS patients, anticipated to commence in the second half of 2025.
Alumis plans to present the detailed data from the Phase 1 trial at the Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) Forum 2025, scheduled for February 27 to March 1, 2025, in West Palm Beach, Florida.
A-005 is part of Alumis's broader strategy to use its proprietary precision data analytics platform to develop targeted therapies for a range of immune-mediated diseases. The company's most advanced product candidate, ESK-001, is currently being evaluated for the treatment of moderate-to-severe plaque psoriasis and systemic lupus erythematosus.
This announcement is based on a press release statement from Alumis Inc. and does not constitute an endorsement of the company's claims. Investors are cautioned that results from clinical trials are preliminary and that further research is required to confirm the drug's safety and effectiveness. According to InvestingPro data, Alumis maintains a Fair financial health rating, though it's currently experiencing negative EBITDA of -$239.21 million. The company's next earnings report is scheduled for February 26, 2025, which could provide crucial updates on the A-005 development program.
In other recent news, Alumis Inc. has made significant strides in its clinical trials, financial efforts, and has received varied analyst coverage. The biopharmaceutical company reported positive interim results from a Phase 2 trial of ESK-001, its investigational oral treatment for moderate-to-severe plaque psoriasis. Additionally, Alumis updated the estimated primary and study completion dates for its Phase 2 LUMUS clinical trial, without disclosing the new expected dates.
In financial news, Alumis reported a third-quarter net loss of $1.73 per share, outperforming H.C. Wainwright's estimated loss of $2.27 per share. The company's management has indicated that Alumis' cash and marketable securities totaling $361.9 million are expected to sustain operations into 2026.
Analyst firms H.C. Wainwright and Baird have adjusted their price targets for Alumis, with H.C. Wainwright reducing its target to $26 from $30, while Baird initiated coverage with an Outperform rating and a $25 target. Despite the adjustment, H.C. Wainwright maintained its Buy rating on the stock. These recent developments highlight the company's ongoing efforts in the biopharmaceutical space.
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