Alumis Files for IPO to Fund Phase 3 Studies for Second-Generation TYK2 Inhibitor

1. IPO Filing: Alumis, a clinical-stage biopharmaceutical company, has filed for an initial public offering (IPO) to raise funds for its Phase 3 studies of a second-generation TYK2 inhibitor.
2. TYK2 Inhibitor: The company's lead candidate, ESK-001, is a highly selective and potentially best-in-class allosteric TYK2 inhibitor being evaluated for moderate to severe plaque psoriasis, systemic lupus erythematosus (SLE), and non-infectious uveitis.
3. Phase 3 Trials: The IPO proceeds will support the initiation of pivotal Phase 3 clinical trials for ESK-001 in the second half of 2024.
4. Pipeline Programs: Alumis is also advancing A-005, a TYK2 inhibitor for neuroinflammatory and neurodegenerative diseases, and has earlier-stage internal pipeline programs.
5. Recent Financing: The company raised $259 million in a Series C financing led by Foresite Capital, Samsara BioCapital, and venBio Partners in March 2024.