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ALMS

Alumis Inc. Common Stock

ALMS

Alumis Inc. Common Stock • NASDAQ
$7.67 ▲ 0.39% (+0.03)
Market Cap $800.76 M
52w High $10.49
52w Low $2.76
Dividend Yield 0%
P/E -3.57
Volume 493.98K
Outstanding Shares 104.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.066M ▼ $117.358M ▼ $-110.752M ▼ -5.361K% ▼ $-1.06 ▼ $-109.836M ▲
Q2-2025 $2.666M ▼ $143.205M ▲ $59.321M ▲ 2.225K% ▲ $0.78 ▲ $-119.969M ▼
Q1-2025 $17.389M ▲ $118.917M ▲ $-98.963M ▼ -569.113% ▼ $-1.82 ▼ $-100.685M ▼
Q4-2024 $0 $97.802M ▼ $-94.759M ▼ 0% $-1.74 ▼ $-93.939M ▲
Q3-2024 $0 $98.399M $-93.117M 0% $-1.73 $-97.585M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $377.724M ▼ $488.014M ▼ $103.241M ▼ $384.773M ▼
Q2-2025 $486.321M ▲ $610.925M ▲ $125.598M ▲ $485.327M ▲
Q1-2025 $208.749M ▼ $261.298M ▼ $92.984M ▲ $168.314M ▼
Q4-2024 $288.263M ▼ $340.992M ▼ $80.889M ▲ $260.103M ▼
Q3-2024 $361.87M $412.559M $64.171M $348.388M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-110.752M ▼ $-110.909M ▼ $24.036M ▼ $0 ▼ $-86.873M ▼ $-110.909M ▼
Q2-2025 $59.321M ▲ $-106.352M ▼ $129.4M ▲ $749K ▲ $23.577M ▲ $-106.968M ▼
Q1-2025 $-98.963M ▼ $-80.355M ▼ $39.428M ▲ $0 ▼ $-40.983M ▲ $-80.392M ▼
Q4-2024 $-94.759M ▼ $-74.764M ▲ $30.95M ▲ $5K ▼ $-43.891M ▼ $-75.13M ▲
Q3-2024 $-93.117M $-83.766M $-93.189M $235.151M $58.196M $-84.545M

Five-Year Company Overview

Income Statement

Income Statement Alumis is still a pure R&D story with no product sales yet. Its entire income statement is driven by research and corporate costs, which means it reports steady operating and net losses. Those losses have been growing as the company scales up clinical development. This pattern is very typical for a young biotech: expenses come first, potential revenue is many years away and depends on successful trials and approvals.

Balance Sheet

Balance Sheet The balance sheet is small but has strengthened recently, with a clear build‑up of cash after going public and raising capital. Most assets are financial rather than physical, and debt is present but modest compared with the company’s size. Equity has been rebuilt, which gives some financial cushion, but the overall scale of resources is limited, so Alumis remains sensitive to future funding needs and market conditions.

Cash Flow

Cash Flow Cash flows show a straightforward picture: money is flowing out to fund operations, especially clinical and research work, with no offsetting inflows from product sales. Operating cash burn closely tracks the reported losses, and there is essentially no spending on large physical assets. The business is being financed mainly through capital raised from investors, and continued progress will likely depend on the company’s ability to secure additional funding over time.

Competitive Edge

Competitive Edge Alumis is operating in a crowded and high‑stakes part of biotech: immune‑mediated and neuroinflammatory diseases. Its edge is a focused bet on highly selective TYK2 inhibitors and the ambition to match or exceed the effectiveness of injectable biologic drugs with convenient oral pills. The company is pursuing a “best‑in‑class” position in psoriasis and lupus while aiming for a first‑mover role in central nervous system inflammation. However, it faces competition from much larger pharma players, and its fate is highly tied to the clinical success of just a few core programs.

Innovation and R&D

Innovation and R&D Innovation is the core of Alumis’s identity. The pipeline centers on envudeucitinib for psoriasis and lupus, a CNS‑penetrant TYK2 drug (A‑005) for multiple sclerosis and related diseases, and an antibody for thyroid eye disease. A proprietary data analytics platform is meant to improve target selection and increase the odds of clinical success. R&D spending is heavy relative to the company’s size, and the next few years are pivotal, with key trial readouts and new studies planned that will test both the science and the development strategy.

Summary

Alumis is an early‑stage, clinical biotech with no commercial revenue yet and a business model entirely built around turning its pipeline into future products. Financially, it is loss‑making and cash‑consuming, supported by recent equity raises and a lean balance sheet. Strategically, it is focused on a narrow but promising set of immune and neuroinflammatory targets where it aims to be either best‑in‑class or first‑in‑class. The upside case depends on strong trial results and successful execution, while the main risks are clinical setbacks, funding needs and intense competition from larger, established players.

NEWS

November 13, 2025 · 4:15 PM UTC

Alumis Reports Third Quarter 2025 Financial Results and Highlights Recent Progress

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November 4, 2025 · 8:00 AM UTC

Alumis to Participate in Upcoming November Investor Conferences

Read more