ALUMIS INC.

Listed Company

ALMSCIK 0001847367NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$24.05M

Net Income

$-243.30M

Total Assets

$411.94M

Equity

$301.30M

Shares Out

—

Op. Cash Flow

$-369.50M

Business

ALUMIS INC. is a clinical-stage biopharmaceutical company developing targeted therapies to replace broad immunosuppression by focusing on validated immune targets. It primarily develops allosteric TYK2 inhibitors, including ESK-001 for psoriasis and systemic lupus erythematosus and A-005 as a CNS-penetrant candidate for neuroinflammatory and neurodegenerative diseases. Its operations include clinical development, discovery programs (e.g., IRF5), proprietary precision data analytics and R&D capabilities. It conducts global clinical trials and intends to pursue commercialization in the United States, Europe and APAC through direct efforts or partnerships.

Summary from filing dated 2025-03-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Total revenue	24	—	—
Research and development expenses, including related party expenses of $1,144 and $912 for the years ended December 31, 2025 and 2024, respectively	386	266	138
General and administrative expenses	92	35	20
Total operating expenses	478	301	158
Loss from operations	−454	−301	−158
Gain on bargain purchase	188	—	—
Interest income	14	12	3
Change in fair value of derivative liability	—	−5	−119,000
Other income (expenses), net	−169,000	−93,000	−68,000
Total other income (expense), net	202	7	3
Net loss before income taxes	−252	−294	—
Income tax benefit	9	0	—
Net loss	−243	−294	−155
Unrealized gain (loss) on marketable securities, net	148,000	38,000	129,000
Total comprehensive loss	−243	−294	−155
Net loss per share attributable to common stockholders, basic	−2.86	−10.38	−72.08
Net loss per share attributable to common stockholders, diluted	−2.86	−10.38	−72.08
Weighted-average shares of common stock outstanding, basic	85	28	2
Weighted-average shares of common stock outstanding, diluted	85	28	2

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	90	170	46	—
Restricted cash	82,000	—	113,000	—
Marketable securities	219	119	3	—
Research and development prepaid expenses	3	13	3	—
Other prepaid expenses and current assets	7	5	2	—
Total current assets	318	306	53	—
Restricted cash, non-current	1	1	1	—
Property and equipment, net	18	21	22	—
Intangible assets	51	—	—	—
Operating lease right-of-use assets, net	17	13	13	—
Other assets, non-current	6	7,000	7,000	—
Total assets	412	341	90	—
Accounts payable	10	10	1	—
Research and development accrued expenses	35	29	11	—
Deferred revenue, current	1	—	—	—
Other accrued expenses and current liabilities	22	11	7	—
Operating lease liabilities, current	5	2	2	—
Total current liabilities	73	51	21	—
Operating lease liabilities, non-current	32	29	31	—
Deferred revenue, non-current	3	—	—	—
Deferred tax liability	2	—	—	—
Share repurchase liability	123,000	813,000	2	—
Other liabilities, non-current	207,000	—	—	—
Total liabilities	111	81	54	—
Commitments and contingencies (Note 9)	—	—	—	—
Preferred stock, $0.0001 par value; 50,000,000 shares authorized, zero shares issued and outstanding as of December 31, 2025 and December 31, 2024	—	—	—	—
Additional paid-in capital	1,203	919	25	—
Accumulated other comprehensive income (loss)	188,000	40,000	2,000	—
Accumulated deficit	−902	−659	−364	—
Total stockholders' equity	301	260	−339	−195
Total liabilities and stockholders' equity	412	341	90	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Net loss	−243	−294	−155
Stock-based compensation	44	19	9
Net accretion of discounts on marketable securities	−5	−4	−544,000
Depreciation and amortization	3	3	1
Non-cash lease expense	2	60,000	2
Loss on disposal of fixed assets	—	5,000	266,000
Impairment of long-lived assets	529,000	—	—
Research and development prepaid expenses	11	−11	6
Other prepaid expenses and other assets	17	−3	—
Other assets, non-current	−6	—	—
Accounts payable	−6	9	−642,000
Deferred revenue	4	—	—
Research and development accrued expenses	2	18	5
Other accrued expenses and current liabilities	6	4	2
Operating lease liabilities	−3	−2	−144,000
Other liabilities, non-current	207,000	—	—
Deferred income tax liability	−9	—	—
Net cash used in operating activities	−370	−255	−130
Maturities of marketable securities	448	128	76
Purchases of marketable securities	−209	−240	−11
Purchases of property and equipment	−653,000	−2	−4
Cash, cash equivalents and restricted cash acquired in connection with the ACELYRIN Merger	50	—	—
Net cash provided by (used in) investing activities	288	−114	60
Proceeds from issuance of redeemable convertible preferred stock and derivative liability, net of issuance costs	—	258	90
Proceeds from initial public offering, net of underwriter discounts and commissions and other offering costs	—	193	—
Proceeds from a private placement transaction	—	40	—
Proceeds from issuance of common stock upon exercise of stock options	489,000	596,000	453,000
Repurchase of common stock shares issued upon early exercised restricted common stock	−17,000	−6,000	−64,000
Proceeds from issuance of common stock under the 2024 ESPP	2	—	—
Net cash provided by financing activities	2	492	90
Net (decrease) increase in cash, cash equivalents and restricted cash	−80	123	20
Conversion of 168,489,871 shares of redeemable convertible preferred stock upon the closing of initial public offering	—	639	—
Equity consideration transferred in connection with the ACELYRIN Merger	238	—	—
Vesting of early exercised stock options and unvested restricted shares of common stock	673,000	1	2
Right-of-use assets obtained in exchange for operating lease liabilities	2	—	14
Recognition of derivative liability upon issuance of redeemable convertible preferred stock	—	9	2
Settlement of derivative liability upon issuance of redeemable convertible preferred stock	—	−14	−2

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro