Alumis Inc. · NASDAQ:ALMS
Alumis — Investor Presentation (June 2026)
36 slides from Alumis's investor presentation, Jun 29, 2026
Slide 1: Transforming Immune-Mediated Disease Treatment with Precision Engineered TYK2 Inhibitors
1 Transforming Immune-Mediated Disease Treatment with Precision Engineered TYK2 Inhibitors Corporate Deck: June 2026
Slide 2: Forward-Looking Statements
2 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 o
Slide 3: Alumis' Next-Gen TYK2 Inhibitors: Two Pipelines-in-a-Pill
3 • Significant market opportunity (projected $180B+2 ) across many indications with potential to be addressed by TYK2 molecules. Envudeucitinib and A-005 provide two pipelines-in-a-pill • Additional envudeucitinib indications: prioritizing Sjögren’s disease and Cutaneous Lupus Erythematosus (CLE)3
Slide 4: Positioned to Unlock the Full Potential of TYK2i Mechanism
4 Hypothesis validated: maximal target engagement translates into higher clinical efficacy Positioned to Unlock the Full Potential of TYK2i Mechanism Human Genetics: TYK2 loss-of-function variants protect against immune mediated disorders Known Mechanism: TYK2 is an upstream mediator of immune disea
Slide 5: Late-stage Pipeline with Multiple Near-term Anticipated Milestones
5 Late-stage Pipeline with Multiple Near-term Anticipated Milestones Our pathway to patients Program Indication Preclinical Phase 1 Phase 2 Phase 3 TYK2i Envudeucitinib Plaque Psoriasis Systemic Lupus Erythematosus (SLE) A-005 Parkinson’s Disease1 Other IRF5/Additional Targets Undisclosed Lonigutama
Slide 6: Key Achievements and Anticipated Milestones for 2026
6 Key Achievements and Anticipated Milestones for 2026 1Q26 1Q26 1H26 2Q26 3Q26 2H26 2H26 2H26 Q426 Envu – PsO Phase 3 Topline Data for 16- and 24-week Endpoints Envu – PsO Phase 3 Additional Data Presented at AAD Lonigutamab – Completion of Strategic Review TYK2 Franchise Development Strategy (Envu
Slide 7: Envudeucitinib: Highly Selective TYK2i for Moderate-to-Severe Plaque Psoriasis
7 Envudeucitinib: Highly Selective TYK2i Being Developed for Moderate-to-Severe Plaque Psoriasis
Slide 8: Many patients remain untreated or undertreated, despite available treatments
8 Many patients remain untreated or undertreated, despite available treatments 1. National Psoriasis Foundation. Psoriasis Statistics. Available at: https://www.psoriasis.org/content/statistics. Accessed December 2025. 2. IQVIA Analysis, Stable and eligible newly diagnosed patients from April 2021–
Slide 9: High-efficacy orals well-positioned to capture market share in $40B projected market
9 High-efficacy orals well-positioned to capture market share in $40B projected market by 20301 1. Source: Evaluate Pharma as of December 2025. 2. Source: Veeva Claims data from 1/1/2025 to 6/30/25. Oral: apremilast, deucravacitinib; TNF: certolizumab, etanercept, Infliximab; IL-17: ixekizumab, secu
Slide 10: Key Drivers of Use in Psoriasis Treatment
10 Key Drivers of Use in Psoriasis Treatment 1. In Industry surveys: J&J Business Review Dec 2023 (survey of n=395 patients with moderate-to-severe psoriasis). 2. Internal company market research. I’m tired. Tired of the itching, the burning, the flaking - tired of how you (psoriasis) make me feel a
Slide 11: Envudeucitinib is a Next-Generation, Highly Selective Oral Allosteric TYK2 Inhibitor
11 Envudeucitinib is a Next-Generation, Highly Selective Oral Allosteric TYK2 Inhibitor Oral systemic therapy that addresses immune dysregulation at its source, delivering robust skin clearance and early symptom relief that impacts quality of life Unmet need Inhibiting TYK2, a central upstream regul
Slide 12: Phase 3 Psoriasis Clinical Program: Well-Designed and Rapidly Executed
12 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 Envudeucitinib, 40mg BID (N=420) Treatment Period Maintenance Placebo (N=210) Wk 16: Rollover to envudeucitinib
Slide 13: ONWARD1 and ONWARD2 Phase 3 Data Update AAD March 2026
13 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 • Leading PASI 100 skin clearance among oral plaque psoriasis therapies; consistent across ONWARD1 and
Slide 14: Reproducibility Between ONWARD1 and ONWARD2 Across PASI 100 and sPGA-0
14 Envudeucitinib Demonstrated Reproducibility Between ONWARD1 and ONWARD2 and Consistency Across PASI 100 and sPGA-0 Responses Envudeucitinib data presented from ONWARD 1 and ONWARD 2 trials (AAD 2026). envudeucitinib envudeucitinib 41.0% 39.5% ONWARD1 ONWARD2 41.6% 40.6% ONWARD1 ONWARD2 Week 24 PA
Slide 15: Envudeucitinib: Leading PASI 100 Skin Clearance
15 Envudeucitinib: Leading PASI 100 Skin Clearance Envudeucitinib data presented from ONWARD 1 and ONWARD 2 trials (AAD 2026). Icotrokinra data presented from ICONIC-ADVANCE 1 and ICONIC-ADVANCE 2 trials (Stein Gold L. et. al Lancet, 2025). Zasocitinib data presented from LATITUDE-PsO-3001 and LATIT
Slide 16: Rapidly Increasing, Statistically Significant PASI 90 Response Rates
16 Envudeucitinib Resulted in Rapidly Increasing, Statistically Significant PASI 90 Response Rates vs Placebo and Apremilast Intention-to-treat population. The 95% CIs and P-values of the treatment differences were based on the Cochran-Mantel-Haenszel test adjusted for stratification factors. Nonres
Slide 17: Robust and Progressive Improvement in PASI 100 Response Rates Over Time
17 Envudeucitinib Demonstrated Robust and Progressive Improvement in PASI 100 Response Rates Over Time Intention-to-treat population. The 95% CIs and P-values of the treatment differences were based on the Cochran-Mantel-Haenszel test adjusted for stratification factors. Nonresponder imputation was
Slide 18: Rapid, Significant, and Sustained Scalp Psoriasis Improvement
18 Rapid, Significant, and Sustained Scalp Psoriasis Improvement With Envudeucitinib Intention-to-treat population. The 95% CIs and P-values of the treatment differences were based on the Cochran-Mantel-Haenszel test adjusted for stratification factors. Nonresponder imputation was applied for missin
Slide 19: Benefits in Itch Reduction and Quality of Life Visible Before Skin Clearance
19 Benefits in Itch Reduction and Quality of Life Visible Before Skin Clearance Intention-to-treat population. For DLQI and PASI 90, the 95% CIs and P-values of the treatment differences were based on the Cochran-Mantel-Haenszel test adjusted for stratification factors. Nonresponder imputation was a
Slide 20: Envudeucitinib's Differentiated and Attractive Profile for Physicians and Patients
20 Envudeucitinib is investigational; not yet reviewed by regulatory agencies. Differences exist between trial design and subject characteristics, and caution should be exercised when comparing data across unrelated studies. Envudeucitinib’s Differentiated and Attractive Profile for Physicians and P
Slide 21: ONWARD1 and ONWARD2 Pooled Safety Through Weeks 16 and 24
21 ONWARD1 and ONWARD2 Pooled Safety Through Weeks 16 and 24 Safety analysis population; pooled ONWARD1 and ONWARD2 data. aTEAEs occurring in ≥5% of patients in any treatment arm through either Week 16 or Week 24. bThirty-nine patients with latent or treated TB were enrolled. AE, adverse event; BID,
Slide 22: 2026 is Expected to be a Breakout Year for Envudeucitinib
22 ONWARD1 & 2 met all primary and secondary endpoints Maximal IL-23/IL-17 pathway inhibition clinically demonstrated in psoriasis Phase 3 data presentation at AAD Additional long-term psoriasis data expected 2H 2026 Anticipated NDA filing Q4 2026 Phase 2b LUMUS SLE topline results expected Q3 2026
Slide 23: Envudeucitinib for Systemic Lupus Erythematosus (SLE)
23 Envudeucitinib for Systemic Lupus Erythematosus (SLE)
Slide 24: High Disease Burden and Unmet Need in SLE
24 Highly efficacious oral therapy could transform treatment and outcomes 1. Current patient estimates from Tian J, Zhang D, Yao X, Huang Y, Lu Q, Global epidemiology of systemic lupus erythematosus: a comprehensive systematic analysis and modelling study. Ann Rheum Dis. 2023 Mar; 82(3):351-356. doi
Slide 25: Strong Clinical & Scientific Rationale to Unlock SLE Opportunity
25 Strong Clinical & Scientific Rationale to Unlock SLE Opportunity Narayan N, Hoffman J, Langrish C, Ucpinar S, Corpuz P, Mittleman B, Tilley M. ESK-001, an Allosteric TYK2 Inhibitor, Maximally Suppresses Type 1 Interferon, a Therapeutic Pathway Central to SLE and CLE. Arthritis Rheumatol. 2024; 76
Slide 26: LUMUS Phase 2b Trial: Topline Results Expected Q3 2026
26 LUMUS Phase 2b Trial: Topline Results Expected Q3 2026 Designed for high probability of clinical success and speed to market Lumus trial incorporates key learnings from past SLE trials • Lumus trial requires stringent disease activity criteria • Rigorous enrollment and outcome adjudication proces
Slide 27: A-005: Phase 2 Ready CNS-Penetrant Allosteric TYK2i
27 A-005: Phase 2 Ready CNS-Penetrant Allosteric TYK2i
Slide 28: A-005, our CNS Penetrant TYK2 Inhibitor, has Potential to Add Substantial Value to TYK2 Franchise
28 A-005, our CNS Penetrant TYK2 Inhibitor, has Potential to Add Substantial Value to TYK2 Franchise (1) Yacoubian, et al., Movement Disorders, 2023; Potashman, Parkinsonism & Related Disorders, 2025. (2) Chen et al., Brain, Behavior, & Immunity – Health, 2025. (3) ACTRIMS 2025: Graham, K. et al. A-
Slide 29: A-005 Demonstrated Full CNS Penetration in Phase 1 Program
29 A-005 Demonstrated Full CNS Penetration in Phase 1 Program * Tmax was reported as median (range) ECTRIMS 2025: Ucpinar S et al. PK, PD & CNS penetration of A-005 in MS. Poster P299. Barcelona, Spain. Ability to cross blood-brain barrier and achieve high levels of exposure in cerebral spinal fluid
Slide 30: Milestones
alumis Milestones alumis
Slide 31: Key Achievements and Anticipated Milestones for 2026
31 Key Achievements and Anticipated Milestones for 2026 1Q26 1Q26 1H26 2Q26 3Q26 2H26 2H26 2H26 Q426 Envu – PsO Phase 3 Topline Data for 16- and 24-week Endpoints Envu – PsO Phase 3 Additional Data Presented at AAD Lonigutamab – Completion of Strategic Review TYK2 Franchise Development Strategy (Env
Slide 32: Two Pipeline-in-a-Pill Opportunities; $180B+ Potential Total Market Opportunity
32 Neurology: $44B Rheumatology: $38B Gastroenterology: $41B Dermatology: $49B Other Indications: $9B Parkinson's Disease Alzheimer's Disease Multiple Sclerosis Systemic Lupus Erythematosus Sjögren’s Disease Psoriatic Arthritis Sarcoidosis Rheumatoid Arthritis Juvenile Idiopathic Arthritis Cro
Slide 33: Company Financial Summary
33 $569.5m1 in cash, cash equivalents and marketable securities as of March 31, 2026 Cash runway expected into Q4 2027 Company Financial Summary 1. Unaudited and subject to change
Slide 34: Alumis Leadership
34 Alumis Leadership Martin Babler President, CEO & Chairman Mark Bradley Chief Development Officer Jack Danilkowicz Chief Commercial Officer Jörn Drappa, MD, PhD Chief Medical Officer David Goldstein, PhD Chief Scientific Officer Sanam Pangali Chief Legal Officer John Schroer Chief Financial Office
Slide 35: Alumis' Next-Gen TYK2 Inhibitors: Two Pipelines-in-a-Pill
35 • Significant market opportunity (projected $180B+2 ) across many indications with potential to be addressed by TYK2 molecules. Envudeucitinib and A-005 provide two pipelines-in-a-pill • Additional envudeucitinib indications: prioritizing Sjögren’s Disease and Cutaneous Lupus Erythematosus (CLE)3
Slide 36: Transforming Immune-Mediated Disease Treatment with Precision Engineered TYK2 Inhibitors
36 Transforming Immune-Mediated Disease Treatment with Precision Engineered TYK2 Inhibitors Corporate Deck: June 2026