Alumis Inc. · NASDAQ:ALMS
Alumis — Investor Presentation (August 2026)
37 slides from Alumis's investor presentation, August 2026
Slide 1: Transforming Immune-Mediated Disease Treatment with Precision Engineered TYK2 Inhibitors
Transforming Immune-Mediated Disease Treatment with Precision Engineered TYK2 Inhibitors Corporate Deck: August 2026 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward looking statements within the meaning of federal securities laws, including the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon current plans, estimates and expectations of
Slide 3: Alumis' Next-Gen TYK2 Inhibitors: Two Pipelines-in-a-Pill
Alumis' Next-Gen TYK2 Inhibitors: Two Pipelines-in-a-Pill Positive • Envudeucitinib delivered highly significant efficacy with leading PASI 100 responses and early and Psoriasis Phase 3 robust improvements in skin clearance, quality of life, and symptoms 1 Significant Near- • Global opportunity for
Slide 4: Positioned to Unlock the Full Potential of TYK2i Mechanism
Positioned to Unlock the Full Potential of TYK2i Mechanism Hypothesis validated: maximal target engagement translates into higher clinical efficacy Power of TYK2i Human Genetics: TYK2 loss-of-function variants protect against immune mediated disorders Known Mechanism: TYK2 is an upstream mediator of
Slide 5: Late-stage Pipeline with Multiple Near-term Anticipated Milestones
Late-stage Pipeline with Multiple Near-term Anticipated Milestones Our pathway to patients Program Indication Preclinical Phase 1 Phase 2 Phase 3 TYK2i Plaque Psoriasis Envudeucitinib Systemic Lupus Erythematosus (SLE) A-005 Parkinson’s Disease1 Other IRF5/Additional Targets Undisclosed Lonigutamab
Slide 6: Key Achievements and Anticipated Milestones
Key Achievements and Anticipated Milestones ✓ 1Q26 Envu – PsO Phase 3 Topline Data for 16- and 24-week Endpoints ✓ 1Q26 Envu – PsO Phase 3 Additional Data Presented at AAD ✓ 1H26 Lonigutamab – Completion of Strategic Review ✓ 2Q26 TYK2 Franchise Development Strategy (Envu and A-005) - Evaluation of
Slide 7: Envudeucitinib: Highly Selective TYK2i Being Developed for Moderate-to-Severe Plaque Psoriasis
Envudeucitinib: Highly Selective TYK2i Being Developed for Moderate-to-Severe Plaque Psoriasis Envudeucitinib is an investigational therapy not reviewed or approved by any regulatory agency. 7
Slide 8: Significant Disease Burden Remains in Psoriasis
Significant Disease Burden Remains in Psoriasis Many patients remain untreated or undertreated, despite available treatments Significant Unmet Market Opportunity Driven by Persistent Disease, Majority of Psoriasis Patients Remain Undertreatment, and High Therapy Discontinuation Untreated or Undertre
Slide 9: Multiple Entry Points Available in Growing Psoriasis Market
Multiple Entry Points Available in Growing Psoriasis Market High-efficacy orals well-positioned to capture market share in $40B projected market by 20301 Estimated Market Share Multiple Market Dynamics Drive Opportunity for Oral and by Brand and MOA2 Differentiated Therapies Low Efficacy • No single
Slide 10: Key Drivers of Use in Psoriasis Treatment
Key Drivers of Use in Psoriasis Treatment HCP Treatment Goals: HCP Preferences Simplicity We are definitely lacking orals Easy regimens, minimal monitoring, and because whatever we have here 1 PASI 90/PASI 100 outcomes reduced administrative steps in terms of the orals, the efficacy 2 Low AEs Treati
Slide 11: Envudeucitinib is a Next-Generation, Highly Selective Oral Allosteric TYK2 Inhibitor
Envudeucitinib is a Next-Generation, Highly Selective Oral Allosteric TYK2 Inhibitor Oral systemic therapy that addresses immune dysregulation at its source, delivering Unmet need robust skin clearance and early symptom relief that impacts quality of life Power of TYK2 Inhibiting TYK2, a central ups
Slide 12: Phase 3 Psoriasis Clinical Program: Well-Designed and Rapidly Executed
Phase 3 Psoriasis Clinical Program: Well-Designed and Rapidly Executed Two Phase 3 trials and LTE to evaluate efficacy & safety of envudeucitinib in moderate-to-severe plaque psoriasis Treatment Period Maintenance LTE Open Label Envudeucitinib, 40mg BID (N=420) Wk 16: Rollover to envudeucitinib R Pl
Slide 13: ONWARD3 Results: Long-Term Data Position Envudeucitinib to Set a New Standard
ONWARD3 Results: Long-Term Data Position Envudeucitinib to Set a New Standard for Plaque Psoriasis Treatment 75% 54% ~90% / ~80% PASI 90 PASI 100 Response maintained Patients treated with envudeucitinib up to 48 Complete skin clearance in the same 48-week Of patients entering ONWARD3 with PASI 90 we
Slide 14: ONWARD1 and ONWARD2 Phase 3 Data Update AAD March 2026
ONWARD1 and ONWARD2 Phase 3 Data Update AAD March 2026 Envudeucitinib Delivered Early and Robust Improvements in Skin Clearance, with Meaningful Improvements in Psoriasis Symptom Relief and QoL Broad and meaningful • Leading PASI 100 skin clearance Highly statistically clinical benefits emerged amon
Slide 15: Envudeucitinib Demonstrated Reproducibility Between ONWARD1 and ONWARD2
Envudeucitinib Demonstrated Reproducibility Between ONWARD1 and ONWARD2 and Consistency Across PASI 100 and sPGA-0 Responses Week 24 Week 24 PASI 100 Responders sPGA-0 Responders 41.0% 39.5% 41.6% 40.6% ONWARD1 ONWARD2 ONWARD1 ONWARD2 envudeucitinib envudeucitinib Envudeucitinib data presented from
Slide 16: Envudeucitinib: Leading PASI 100 Skin Clearance
Envudeucitinib: Leading PASI 100 Skin Clearance Week 24 PASI 100 Responders 41.0% 41.5% 42.3% 39.5% 33.2% 32.1% ONWARD1 ONWARD2 ADVANCE1 ADVANCE2 LATITUDE 3001LATITUDE 3002 envudeucitinib icotrokinra zasocitinib Envudeucitinib data presented from ONWARD 1 and ONWARD 2 trials (AAD 2026). Icotrokinra
Slide 17: Envudeucitinib Resulted in Rapidly Increasing, Statistically Significant PASI 90 Response Rates
Envudeucitinib Resulted in Rapidly Increasing, Statistically Significant PASI 90 Response Rates vs Placebo and Apremilast Early onset of action: separation vs placebo observed at Week 4 ONWARD1 ONWARD2 Envudeucitinib 40 mg BID (n = 459) Placebo (n = 230) Envudeucitinib 40 mg BID (n = 433) Placebo (n
Slide 18: Envudeucitinib Demonstrated Robust and Progressive Improvement in PASI 100 Response Rates
Envudeucitinib Demonstrated Robust and Progressive Improvement in PASI 100 Response Rates Over Time Approximately 40% complete skin clearance at Week 24 without evidence of plateau ONWARD1 ONWARD2 Envudeucitinib 40 mg BID (n = 459) Placebo (n = 230) Envudeucitinib 40 mg BID (n = 433) Placebo (n = 21
Slide 19: Rapid, Significant, and Sustained Scalp Psoriasis Improvement With Envudeucitinib
Rapid, Significant, and Sustained Scalp Psoriasis Improvement With Envudeucitinib Approximately 3 in 4 patients receiving envudeucitinib achieved ss-PGA-0/1a at Week 24, with over 30% response as early as Week 4 ONWARD1 ONWARD2 Envudeucitinib 40 mg BID (n = 274) Placebo (n = 135) Apremilast 30 mg BI
Slide 20: Benefits in Itch Reduction and Quality of Life Visible Before Skin Clearance
Benefits in Itch Reduction and Quality of Life Visible Before Skin Clearance Patients receiving envudeucitinib showed robust, early improvements in DLQI and itch that preceded PASI 90 responses ONWARD1 ONWARD2 Envudeucitinib 40 mg BID Envudeucitinib 40 mg BID 80 0 80 0 Itch Δ Baselinea (95% CI) Itch
Slide 21: ONWARD1 and ONWARD2 Pooled Safety Through Weeks 16 and 24
ONWARD1 and ONWARD2 Pooled Safety Through Weeks 16 and 24 Through Week 16 Through Week 24 Envudeucitinib Placebo to Overall Envudeucitinib Apremilast 40 mg BID Envudeucitinib Envudeucitinib Apremilast 40 mg BID Placebo 30 mg BID only 40 mg BID 40 mg BID 30 mg BID n (%) n = 890 n = 441 n = 438 n = 89
Slide 22: Envudeucitinib's Differentiated and Attractive Profile for Physicians and Patients
Envudeucitinib’s Differentiated and Attractive Profile for Physicians and Patients • Leading and consistent PASI 100 skin clearance among oral plaque psoriasis therapies o Early onset of action; PASI 90 responses emerged as early as Week 4 Skin Clearance o ONWARD3: 75% and 54% of patients achieved P
Slide 23: 2026 is Expected to be a Breakout Year for Envudeucitinib
2026 is Expected to be a Breakout Year for Envudeucitinib Precision engineered oral TYK2i with differentiated profile Psoriasis: Potential best-in-disease oral (Ph3 data) SLE: Potential oral category leader Confirmed TYK2 viability as oral IL-23/IL-17 pathway inhibitor Evaluating TYK2 viability as T
Slide 24: Envudeucitinib for Systemic Lupus Erythematosus (SLE)
Envudeucitinib for Systemic Lupus Erythematosus (SLE) 24
Slide 25: High Disease Burden and Unmet Need in SLE
High Disease Burden and Unmet Need in SLE Highly efficacious oral therapy could transform treatment and outcomes SLE disease burden3 Significant Systemic Lupus SLE disease burden Mouth and Face / Skin Nose Ulcers butterfly rash and red patches • Chronic autoimmune disease affecting ~3.4M people worl
Slide 26: Strong Clinical & Scientific Rationale to Unlock SLE Opportunity
Strong Clinical & Scientific Rationale to Unlock SLE Opportunity Envudeucitinib oral therapy has potential to transform SLE therapy by targeting Type I IFN Type I IFN is a key disease driver in SLE Approved SLE therapy (anifrolumab) validates IFN pathway targeting TYPE I Envu Ph 2 PsO data shows rob
Slide 27: LUMUS Phase 2b Trial: Topline Results Expected Q3 2026
LUMUS Phase 2b Trial: Topline Results Expected Q3 2026 Designed for high probability of clinical success and speed to market Part A Part B Phase 2 Trial Long-term Extension (LTE) Trial Envu 20 mg QD » Primary Endpoint: Envu 20 mg BID BICLA at Week 48 R Envu 40 mg BID compared to placebo Envu 40 mg B
Slide 28: A-005: Phase 2 Ready CNS-Penetrant Allosteric TYK2i
A-005: Phase 2 Ready CNS-Penetrant Allosteric TYK2i 28
Slide 29: A-005, our CNS Penetrant TYK2 Inhibitor, has Potential to Add Substantial Value to TYK2 Franchise
A-005, our CNS Penetrant TYK2 Inhibitor, has Potential to Add Substantial Value to TYK2 Franchise Broadening TYK2i Opportunities TYK2iPhase 2 Program in Parkinson’s Disease Phase 2 Program • Broader tissue penetration to • Inflammation increasingly implicated • Phase 2 biomarker trial in address inf
Slide 30: A-005 Demonstrated Full CNS Penetration in Phase 1 Program
A-005 Demonstrated Full CNS Penetration in Phase 1 Program Ability to cross blood-brain barrier and achieve high levels of exposure in cerebral spinal fluid (CSF) CSF Cohort (120 mg QD) PK Summary: CSF Cohort (120 mg QD) Tmax* Cmax C9h (h) (ng/mL) (ng/mL) Plasma Total , mean (SD) 1.0 (0.75-3.0) 327
Slide 31: Milestones
alumis Milestones alumis
Slide 32: Key Achievements and Anticipated Milestones
Key Achievements and Anticipated Milestones ✓ 1Q26 Envu – PsO Phase 3 Topline Data for 16- and 24-week Endpoints ✓ 1Q26 Envu – PsO Phase 3 Additional Data Presented at AAD ✓ 1H26 Lonigutamab – Completion of Strategic Review ✓ 2Q26 TYK2 Franchise Development Strategy (Envu and A-005) - Evaluation of
Slide 33: Two Pipeline-in-a-Pill Opportunities; $180B+ Potential Total Market Opportunity
Two Pipeline-in-a-Pill Opportunities; $180B+ Potential Total Market Opportunity Indications supported by genomic evidence, clinical validation, or active studies Dermatology: $49B Plaque Psoriasis Cutaneous Lupus Erythematosus Vitiligo Hidradenitis Suppurativa Dermatomyositis Rheumatology: $38B Ge
Slide 34: Company Financial Summary
Company Financial Summary $502m1 in cash, cash equivalents and marketable securities as of June 30, 2026 Cash runway expected into Q4 2027 1. Unaudited and subject to change 34
Slide 35: Alumis Leadership
Alumis Leadership Martin Babler Mark Bradley Kolbot By, PhD President, CEO & Chairman Chief Development Officer Head of Technical Operations John Schroer Roy Hardiman Grace Halteh Chief Financial Officer Chief Business & Strategy Officer Head of Quality and Regulatory Jörn Drappa, MD, PhD David Gold
Slide 36: Alumis' Next-Gen TYK2 Inhibitors: Two Pipelines-in-a-Pill
Alumis' Next-Gen TYK2 Inhibitors: Two Pipelines-in-a-Pill Positive • Envudeucitinib delivered highly significant efficacy with leading PASI 100 responses and early and Psoriasis Phase 3 robust improvements in skin clearance, quality of life, and symptoms 1 Significant Near- • Global opportunity for
Slide 37: Transforming Immune-Mediated Disease Treatment with Precision Engineered TYK2 Inhibitors
Transforming Immune-Mediated Disease Treatment with Precision Engineered TYK2 Inhibitors Corporate Deck: August 2026 37