Alumis Inc.: Promising Clinical Advancements and Strategic Positioning Drive Buy Rating

Brian Skorney, an analyst from Robert W. Baird, maintained the Buy rating on Alumis Inc. (ALMS – Research Report). The associated price target remains the same with $25.00.

Brian Skorney has given his Buy rating due to a combination of factors that highlight Alumis Inc.’s promising clinical advancements and strategic positioning in the biopharmaceutical sector. The company is actively progressing with its lead TYK2 inhibitor, ESK-001, which is making strides in the treatment of plaque psoriasis (PsO) as evidenced by ongoing Phase 2 trials showing significant patient response rates. The expectation of 52-week data in the first half of 2025 could provide further validation of its long-term efficacy and potential market differentiation.
Additionally, Alumis is advancing its A-005 program, another TYK2 inhibitor aimed at treating neuroinflammatory conditions such as multiple sclerosis. The Phase 1 results expected by year-end will be crucial, particularly in assessing the CNS penetration capabilities of the drug, which may enhance its attractiveness in the marketplace. These clinical developments, along with the company’s efficient trial enrollment and strategic formulation initiatives, underpin Skorney’s positive outlook and Buy recommendation for Alumis Inc.

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Alumis Inc. (ALMS) Company Description:

Alumis’ mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule. ESK-001 has demonstrated significant therapeutic effect in our Phase 2 program in patients with PsO, which we define as moderate-to-severe plaque psoriasis, and is currently being evaluated in additional Phase 2 clinical trials in patients with systemic lupus erythematosus (SLE) and non-infectious uveitis, for which we expect to report results in 2026 and by the end of 2024, respectively.