Alumis Inc. · NASDAQ:ALMS
Alumis — Investor Presentation (September 2025)
45 slides from Alumis's investor presentation, Sep 3, 2025
Slide 1: Transform Therapies. Reimagine Lives. Corporate Presentation
Transform Therapies. Reimagine Lives. September 2025 Corporate Presentation
Slide 2: Forward-Looking Statements
2© Alumis 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 expect
Slide 3: Late-Stage Precision Immunology Company with Differentiated Pipeline and Key Near-Term Readouts
〉 A portfolio of three clinical molecules against validated targets and an internal pipeline powered by a proven Research organization – Envudeucitinib, a TYK2 inhibitor for Psoriasis and Systemic Lupus Erythematosus (SLE) – A-005, a CNS penetrant TYK2 inhibitor for MS and other neuroinflammatory an
Slide 4: Alumis Portfolio: De-risked, Disruptive and Poised to Deliver
© Alumis 4 Alumis Portfolio: De-risked, Disruptive and Poised to Deliver De-risked Portfolio Disruptive Poised to Deliver 〉 TYK2 is genetically and clinically well validated across multiple diseases including PSO, PSA, SLE and CLE 〉 Envudeucitinib has a large safety and efficacy data set > 1 year wi
Slide 5: Late-Stage Pipeline with Multiple Near-Term Milestones
Late-Stage Pipeline with Multiple Near-Term Milestones 5© Alumis DEVELOPMENT ANTICIPATED TARGET PRECLINICAL PHASE 1 PHASE 2 PHASE 3 MILESTONES Envudeucitinib (TYK2) Moderate-to-Severe Plaque Psoriasis (PsO) Early 1Q 2026: Phase 3 topline data Systemic Lupus Erythematosus (SLE) 3Q 2026: Phase 2b topl
Slide 6: TYK2: Pipeline-in-a-Pill Potential Across IL-23 + Interferon Driven Diseases
Validated Mechanism 〉 Carriers of two P1104A variants confer strongest protection from broad array of immune-mediated diseases without identified safety concerns 〉 Consistent with TYK2 genetics, increased therapeutic benefit observed clinically in PsO with maximal TYK2 inhibition1 〉 TYK2 drives infl
Slide 7: Complete Inhibition of TYK2 Delivers Better Clinical Results
Phase 2 Efficacy Endpoints In vitro Deucravacitinib and TAK-279 data are sourced from publicly available information. These data are not based on head-to-head or comparator preclinical studies. Differences exist between study designs and caution should be exercised when comparing data across studies
Slide 8: Envudeucitinib for Psoriasis: A Potential Best in Disease Oral Therapy
〉 Phase 2 Clinical response rates approach market leading injectables 〉 No major safety signals identified with up to two years of active therapy 〉 Rapid and deep itch reduction 〉 Achieves maximum target inhibition with no need to dose reduce in PsO 〉 Fasting not required 〉 Easy to initiate therapy
Slide 9: Envudeucitinib for Lupus: A Promising Next Indication and Market Opportunity
〉 Potential best in disease oral therapy 〉 Envu reduces Interferon signature dramatically in PSO patients 〉 Envu has the potential for a favorable safety profile due to its selectivity 〉 Ongoing biomarker work could identify predictors of response 〉 Successful LUMUS outcome unlocks breadth of interf
Slide 10: A-005 for MS: A First-in-Class Fully CNS-Penetrant Allosteric TYK2 Inhibitor
〉 Full CNS penetration demonstrated in Phase 1 〉 Doses established that provide high peripheral and CSF exposure 〉 Biomarker data confirm maximal target inhibition 〉 Toxicology and CMC package enable long duration patient studies 〉 A-005 represents an additional opportunity as a second TYK2i for per
Slide 11: Lonigutamab in TED: A Potentially Differentiated Anti-IGF-1R Therapy
〉 Differentiated mechanism of action that potentially translates into safety benefit 〉 Improved safety profile could lead to chronic treatment of earlier disease 〉 Subcutaneous auto-injector formulation allows for patient self-administration 〉 Development plan continues to be evaluated Lonigutamab i
Slide 12: Envudeucitinib: TYK2i Achieving Maximal Target Inhibition
Envudeucitinib: TYK2i Achieving Maximal Target Inhibition
Slide 13: Envudeucitinib for Psoriasis: A Potential Best in Disease Oral Therapy
〉 Phase 2 Clinical response rates approach market leading injectables 〉 No major safety signals identified with up to two years of active therapy 〉 Rapid and deep itch reduction 〉 Achieves maximum target inhibition with no need to dose reduce in PsO 〉 Fasting not required 〉 Easy to initiate therapy
Slide 14: TYK2 Validation Begins with Genetics
© Alumis 14 TYK2 Validation Begins with Genetics 〉TYK2 P1104A Loss-of-kinase-function variant stands out in the human genome, conferring powerful protection from broad array of immune-mediated diseases 〉Out-sized protection conferred by carriers of two P1104A variants (homozygotes) reinforces requir
Slide 15: Psoriasis: Large Market with Significant Unmet Need for High Efficacy Oral
Psoriasis: Large Market with Significant Unmet Need for High Efficacy Oral 1. 2030 estimates from GlobalData report. 2. National Psoriasis Foundation. ~16M patients worldwide with moderate-to-severe disease. 3. In industry surveys: J&J Business Review Dec 2023 (survey of n = 39 patients with moderat
Slide 16: Less Than 10% of Diagnosed Psoriasis Patients are Treated with a Biologic
1 National Psoriasis Foundation 2 IQVIA Analysis, Stable and eligible newly diagnosed patients from April 2021– March 2022 utilized for longitudinal analysis; all patients have at least 24M of look forward post-Dx * Last data March 2024; product and market dynamics since March 2024 not reflected her
Slide 17: Phase 2 STRIDE Met Primary and Secondary Endpoints at Week 12
*p<0.05; **p< 0.005; ***p<0.001 . P-value is comparing proportion in each active arm vs placebo using the Cochran-Mantel-Haenszel test adjusted for stratification factors (prior use of biologics and geographic region (North American vs. ROW)). © Alumis 17 Phase 2 STRIDE Met Primary and Secondary End
Slide 18: Phase 2 STRIDE: Envudeucitinib Well Tolerated at All Dose Levels
Placebo (N=38) 10 mg QD (N=36) 20 mg QD (N=36) 20 mg BID (N=39) 40 mg QD (N=39) 40 mg BID (N=39) Overall (N=227) Subjects with ≥1 TEAE 15 (39.5) 19 (52.8) 14 (38.9) 18 (46.2) 19 ( 48.7) 25 (64.1) 110 (48.5) Subjects with ≥1 SAE 0 1 (2.8) 0 3 (7.7) 1 (2.6) 0 5 (2.2) Subjects with treatment related SA
Slide 19: Safety Profile of Envudeucitinib at Week 52
19 Safety Profile of Envudeucitinib at Week 52 - No Significant Safety Findings Throughout 52 Weeks envudeucitinib 40 mg QD (N=82) envudeucitinib 40 mg BID* (N=147) Overall (N=164) n (%) EAIR n (%) EAIR n (%) EAIR Subjects with ≥ 1 TEAE 50 (61) 122.76 73 (50) 102.33 108 (66) 108.18 Subjects with ≥ 1
Slide 20: Week 52 Data: Significant Increases in PASI Responses
Patient Achieving PASI-75 (AO) (%) Patient Achieving PASI-90 (AO) (%) Patient Achieving PASI-100 (AO) (%) 20 Week 52 Data: Significant Increases in PASI Responses with Continued Exposure with Progressive Achievements in PASI 100 OLE Treatment: Envudeucitinib 40 mg BID As Observed 82 82 82 74 72 71 7
Slide 21: Week 52 Data: Consistent Results For As-Observed and mNRI
21 Week 52 Data: Consistent Results For Both As-Observed and mNRI Methodology Patient Achieving PASI-75 (mNRI) (%) Patient Achieving PASI-90 (mNRI) (%) Patient Achieving PASI-100 (mNRI) (%) Patient Achieving PASI-75 (AO) (%) Patient Achieving PASI-90 (AO) (%) Patient Achieving PASI-100 (AO) (%) OLE
Slide 22: Week 52 Data: Sustained and Increasing sPGA Responses
OLE Treatment: Envudeucitinib 40 mg BID (mITT Analysis Set) Open Label Extension 40 mg BID STRIDE Washout 20 mg BID 40 mg QD 40 mg BID Placebo Patient with Response (%) 100 80 60 40 20 0 22 Week 52 Data: Sustained and Increasing sPGA Responses with Continued Exposure Patient Achieving sPGA 0 (A0) (%
Slide 23: Week 52 Data: Improvements in Itch and Quality of Life
Based on the modified intention-to-treat analysis population. mNRI analysis: if patient discontinued due to AE or inadequate response, then imputed as a non-responder; if discontinued for other reasons, then imputed using LOCF (i.e., last observation carried forward). DLQI, Dermatology Life Quality
Slide 24: Week 52 Data: PASI-75 Over Time for OLE 40 mg BID Cohort
NUMBER OF SUBJECTS STRIDE Washout 20 mg BID 40 mg QD 40 mg BID Placebo Proportion with PASI-75 Response (%) 100 80 60 40 20 0 VISIT > Baseline P W12 D1 W2 W4 Open Label Extension 40 mg BID OLE Treatment: Envudeucitinib 40 mg BID *Data as of September 6, 2024 W8 W12 W16 W28 W40 W52 © Alumis 24 Week 5
Slide 25: Psoriasis: Current Treatment Landscape
© Alumis 25 Psoriasis: Current Treatment Landscape Maximal response is Achieved at Week 24 and Beyond Percent of Patients Achieving PASI-75 Time (Weeks) Skyrizi IL-23 Cosentyx IL-17 Stelara IL-12/23 JNJ2113 IL-23 oral Sotyktu TYK2 oral Otezla PDE4 oral PASI 75 Outcomes for Recent Psoriasis Studies (
Slide 26: Kaken Collaboration and Licensing Agreement Secures Key Market for Envu
1. Global Data, Plaque Psoriasis: Seven-Market Drug Forecast and Market Analysis Market Forecast 2023–2030, May 2024. © Alumis 26 Kaken Collaboration and Licensing Agreement Secures Key Market for Envu Global Commercialization Strategy Alumis-Kaken Collaboration for envu in Dermatology in Japan 〉 Co
Slide 27: Envudeucitinib for Lupus: A Promising Next Indication and Market Opportunity
〉 Potential best in disease oral therapy 〉 Envu reduces Interferon signature dramatically in PSO patients 〉 Envu has the potential for a favorable safety profile due to its selectivity 〉 Ongoing biomarker work could identify predictors of response 〉 Successful LUMUS outcome unlocks breadth of interf
Slide 28: Envu in SLE: Potential Ability to Maximally Inhibit Type I Interferon
~3.4M PATIENTS WORLDWIDE1 $4B+ GLOBAL MARKET3 Envu in SLE: Potential Ability to Maximally Inhibit Type I Interferon Offers Promise as an Oral Therapy 1. Current patient estimates from Tian J, Zhang D, Yao X, Huang Y, Lu Q. Global epidemiology of systemic lupus erythematosus: a comprehensive systemat
Slide 29: SLE: Ongoing Phase 2b Program (LUMUS)
SLE: Ongoing Phase 2b Program (LUMUS) is Designed for Speed to Market and Probability of Clinical Success 29 〉 High unmet need for safe and effective treatment in SLE – No oral targeted treatments available at this time – Opportunity to expand into lupus nephritis, cutaneous lupus 〉 Multiple points
Slide 30: Phase 2b LUMUS Trial Design
QD: Once daily dosing; BID: Twice daily dosing 30 Phase 2b LUMUS Trial Design Study Schematic PART A - Phase 2 Trial PART B - Long-term Extension Trial ESK-001 40 mg BID ESK-001 20 mg QD (N=97) ESK-001 20 mg BID (N=97) ESK-001 40 mg BID (N=97) Primary EP Week 48 Baseline Day 1 End of Study Placebo (
Slide 31: LUMUS Trial Incorporates Key Learnings from Past SLE Trials
© Alumis 31 LUMUS Trial Incorporates Key Learnings from Past SLE Trials 〉 High placebo response rates responsible for failed SLE trials driven by: – Insufficient disease activity – Excessive concomitant medications – Incorrect/inconsistent use of composite outcome measures – Trial design and/or cond
Slide 32: A-005: First-in-Class, CNS-Penetrant Allosteric TYK2 Inhibitor
A-005: First-in-Class, CNS-Penetrant Allosteric TYK2 Inhibitor
Slide 33: A-005 for MS: A First-in-Class Fully CNS-Penetrant Allosteric TYK2 Inhibitor
〉 Full CNS penetration demonstrated in Phase 1 〉 Doses established that provide high peripheral and CSF exposure 〉 Biomarker data confirm maximal target inhibition 〉 Toxicology and CMC package enable long duration patient studies 〉 A-005 represents an additional opportunity as a second TYK2i for per
Slide 34: A-005 Preclinical EAE Model Data
Once daily oral dosing initiated 1 day prior to EAE induction; Mann-Whitney U test vs vehicle, p<0.05 for 1 mg/kg (day 20-28), 3 mg/kg (day 20-28), 10 mg/kg (day 14-28), 30 mg/kg (day 14-28) (Gorman, J. A., Hundhausen, C., Kinsman, M., Arkatkar, T., Allenspach, E. J., Clough, C., West, S. E., Thomas
Slide 35: A-005 Demonstrated Dose Dependent Plasma Exposure in Phase 1
© Alumis 35 A-005 Demonstrated Dose Dependent Plasma Exposure with Sustained and Maximal PD Effect in Phase 1 〉A-005 plasma exposure (Cmax, AUC) increased proportional to dose, in the range of 1 to 240 mg QD dose 〉Several higher A-005 doses sustained in vitro pSTAT IC90 coverage over 24h 0.01 0.1 1
Slide 36: A-005 Demonstrated Ability to Cross Blood-Brain Barrier
CSFfree ≥ Plasmafree exposure for all timepoints from 1h postdose © Alumis 36 A-005 Demonstrated Ability to Cross Blood-Brain Barrier with High Levels of Exposure in Cerebral Spinal Fluid (CSF) in Phase 1 PK Summary: CSF Cohort (120 mg QD) Tmax (h) Cmax (ng/mL) C9h (ng/mL) Plasma Total , mean (SD) 1
Slide 37: Clinical Development Strategy for A-005
Clinical Development Strategy for A-005 Goal: Establish Clinical Proof-of-Concept in First Neuroinflammatory Indication Positive Phase 1 Clinical Trial Completed 〉 Favorable safety profile at all doses tested with no series treatment emergent adverse events 〉 Full CNS penetration established 〉 Doses
Slide 38: Alumis TYK2 Pipeline in a Pill has Extensive Validation with Substantial Market Potential
Alumis TYK2 Pipeline in a Pill has Extensive Validation with Substantial Market Potential Across Immune-Mediated Diseases Ongoing trials: includes Alumis and other company clinical trials; Publicly disclosed indications for TYK2, Market size estimates for 2030 worldwide Indication Market Size1 Clini
Slide 39: Lonigutamab, IGF-1R
Lonigutamab, IGF-1R & alumis
Slide 40: Lonigutamab in TED: A Potentially Differentiated Anti-IGF-1R Therapy
〉 Differentiated mechanism of action that potentially translates into safety benefit 〉 Improved safety profile could lead to chronic treatment of earlier disease 〉 Subcutaneous auto-injector formulation allows for patient self-administration 〉 Development plan continues to be evaluated Lonigutamab i
Slide 41: Lonigutamab: Next-Generation Subcutaneous Anti-IGF-1R Therapy
Lonigutamab A Next-Generation Subcutaneous Anti-IGF-1R Therapy With Best-in-Class Potential in TED 41 Lonigutamab Best-In-Class Potential 〉 Uniquely differentiated MOA: non-competitively binding IGF-1R antagonist in TED 〉 Phase 1/2 clinical data provided key insights for the design of differentiated
Slide 42: Lonigutamab: Designed to Eliminate IGF-1R with Limited Impact on Circulating IGF-1
1. Internally derived figure 2. Data on file 3. Akla, B. et al. 2020, Mol. Cancer Ther 4. Bedian, V., et al. 2023, J. Endocr. Soc. 42 Lonigutamab: Designed to Eliminate IGF-1R with Limited Impact on Circulating IGF-1 Lonigutamab Teprotumumab / Veligrotug Rapid IGF-1R Internalization3 2 IGF-1R Degrad
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Slide 44: Recent Achievements and Multiple Near-Term Milestones
© Alumis 44 Recent Achievements and Multiple Near-Term Milestones 2025 2026 1Q26 1H 26 3Q26 2H26 2026 Envu – PsO Phase 3 Topline Data for 16 and 24 week endpoints A-005 – MS Phase 2 Initiation Envu – SLE Phase 2b Topline Data Envu- PsO NDA filing Phase 1 clinical data for 3rd clinical candidate Envu
Slide 45: Thank You!
Thank You! &% alumis