Alumis Inc. · NASDAQ:ALMS
Alumis — Investor Presentation (2026)
39 slides from Alumis's investor presentation, 2026
Slide 1: Envudeucitinib ONWARD1 and ONWARD2 Phase 3 Data Presentation
Envudeucitinib ONWARD1 and ONWARD2 Phase 3 Data Presentation
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: Agenda
Agenda Topic Speaker Welcome John Schroer, CFO Opening Remarks Martin Babler, CEO ONWARD Phase 3 Data Review Andrew Blauvelt, MD, MBA Opportunity for Differentiation Jörn Drappa, MD, PhD, CMO Closing Remarks Martin Babler, CEO Q&A All 3
Slide 4: Opening Remarks
Opening Remarks Martin Babler 4
Slide 5: Envudeucitinib Delivered Early and Robust Improvements in Skin Clearance
Envudeucitinib Delivered Early and Robust Improvements in Skin Clearance, with Meaningful Improvements in Psoriasis Symptom Relief and QoL ONWARD1 and ONWARD2 Phase 3 Data Broad and meaningful • Leading PASI 100 skin clearance Highly statistically clinical benefits emerged among oral plaque psoriasi
Slide 6: 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 7: ONWARD1 and ONWARD2 Phase 3 Data Review
Envudeucitinib ONWARD1 and ONWARD2 Phase 3 Data Review AAD 2026 Dr. Andrew Blauvelt 7
Slide 8: Envudeucitinib 24-Week Results From Phase 3 ONWARD1 and 2 Studies
Envudeucitinib (ESK-001) in Moderate-to-Severe Plaque Psoriasis: 24-Week Results From the Randomized, Double-Blind, Active Comparator- and Placebo- Controlled, Phase 3 ONWARD1 and 2 Studies Andrew Blauvelt1, Howard Sofen2, April Armstrong3, Benjamin Ehst4-6, Jennifer Soung7, Maryam Shayesteh Alam8,
Slide 9: Disclosures
Disclosures 〉 Presenting author: AB has served as a speaker for and received honoraria from Almirall, Eli Lilly, LEO Pharma, Sanofi, and UCB; has served as a scientific adviser for and received honoraria from AbbVie, Almirall, Alumis Inc., Amgen, AnaptysBio, Apogee Therapeutics, Arcutis Biotherapeut
Slide 10: Envudeucitinib: A Next-Generation TYK2i for Moderate-to-Severe Psoriasis
Envudeucitinib: A Next-Generation TYK2i for Moderate-to-Severe Psoriasis 〉 Envudeucitinib, a next-generation, oral, allosteric TYK2i, provides maximal inhibition over a 24-hour period in patients with psoriasis1,2 〉 STRIDE Phase 2 and its open-label extension results demonstrated the favorable benef
Slide 11: ONWARD1 and ONWARD2: Study Designs and Endpoints
ONWARD1 and ONWARD2: Study Designs and Endpoints Coprimary Endpoints (vs Placebo) 〉 PASI 75 〉 sPGA-0/1 ONWARD1 and ONWARD2a Key Secondary Endpoints (vs Placebo or Apremilast) 〉 PASI 75/90/100 Envudeucitinib 40 mg BID (n = 459; 433) 2:1:1 Randomization Rollover to 〉 sPGA-0/1 〉 Change from baseline in
Slide 12: Baseline Demographics and Disease Characteristics Were Balanced Across Arms
Baseline Demographics and Disease Characteristics Were Balanced Across Arms and Representative of a Typical Moderate-to-Severe Population ONWARD1 ONWARD2 Envudeucitinib Apremilast Envudeucitinib Apremilast 40 mg BID Placebo 30 mg BID 40 mg BID Placebo 30 mg BID n = 459 n = 230 n = 223 n = 433 n = 21
Slide 13: Robust and Statistically Significant PASI Response Rates at Week 16
Robust and Statistically Significant PASI Response Rates at Week 16 Almost 30% of patients receiving envudeucitinib achieved PASI 100 at Week 16 ONWARD1 ONWARD2 Envudeucitinib 40 mg BID (n = 459) Placebo (n = 230) Apremilast 30 mg BID (n = 223) Envudeucitinib 40 mg BID (n = 433) Placebo (n = 211) Ap
Slide 14: Sustained and Continued PASI Response Rates Through Week 24
Sustained and Continued PASI Response Rates Through Week 24 Approximately 65% and 40% of patients achieved PASI 90 and PASI 100 with envudeucitinib at Week 24 ONWARD1 ONWARD2 Envudeucitinib 40 mg BID (n = 459) Placebo (n = 230) Apremilast 30 mg BID (n = 223) Envudeucitinib 40 mg BID (n = 433) Placeb
Slide 15: 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) Apremilast 30 mg BID (n = 223) Envudeucitinib
Slide 16: Robust and Progressive Improvement in PASI 100 Response Rates Over Time
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) Apremilast 30 mg BID (n = 223) Envudeucitinib 40 m
Slide 17: Significant sPGA-0/1 and sPGA-0 Responses
Envudeucitinib Demonstrated Significant sPGA-0/1 and sPGA-0 Responses Approximately 60% and 30% of patients receiving envudeucitinib achieved sPGA-0/1 and sPGA-0 at Week 16, and responses continued to improve through Week 24 ONWARD1 ONWARD2 Envudeucitinib 40 mg BID (n = 459) Placebo (n = 230) Apremi
Slide 18: Visible Skin Improvement by Week 2 With Envudeucitinib
Visible Skin Improvement by Week 2 With Envudeucitinib Week Week 0 2 Week Week 8 16 18 Patient with severe disease (PASI, 22.3; sPGA, 4) at baseline. PASI, Psoriasis Area and Severity Index; sPGA, static Physician’s Global Assessment. Envudeucitinib is investigational; not yet reviewed by regulatory
Slide 19: Rapid and Significant Skin Improvement
Envudeucitinib Resulted in Rapid and Significant Skin Improvement Week Week 0 2 Week Week 8 16 19 Patient with moderate disease (PASI, 12.4; sPGA, 3) at baseline. PASI, Psoriasis Area and Severity Index; sPGA, static Physician’s Global Assessment. Envudeucitinib is investigational; not yet reviewed
Slide 20: Substantial Skin Improvement After Switching to Envudeucitinib in 8 Weeks
Substantial Skin Improvement Achieved After Switching to Envudeucitinib in 8 Weeks Placebo → Envudeucitinib Week 0 Week 16 Week 24 Patient with severe disease at baseline (PASI, 31.8; sPGA, 4) who crossed over from placebo to envudeucitinib at Week 16. PASI, Psoriasis Area and Severity Index; sPGA,
Slide 21: Rapid, Significant, and Sustained Scalp Psoriasis Improvement
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 22: Rapidly Reduced Itch With Deepening Response Over Time
Envudeucitinib Rapidly Reduced Itch With Deepening Response Over Time On average ˃4-point mean decrease from baseline in worst pruritus NRS by Week 12, with continued symptom improvement over time ONWARD1 ONWARD2 Week Week 0 4 8 12 16 20 24 0 4 8 12 16 20 24 Worst Pruritus NRS, Δ Baseline, LSM (95%
Slide 23: Treatment Significantly Improved Patient Quality of Life
Envudeucitinib Treatment Significantly Improved Patient Quality of Life Approximately 50% of patients receiving envudeucitinib reported DLQI-0/1a by Week 12, with continued improvement through Week 24 ONWARD1 ONWARD2 Envudeucitinib 40 mg BID (n = 424) Placebo (n = 211) Apremilast 30 mg BID (n = 207)
Slide 24: 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 25: Treatment Significantly Improved PSSD
Envudeucitinib Treatment Significantly Improved PSSD Nearly 30% of patients reported an absence of psoriasis signs and symptoms (PSSD-0)a at Week 16, with continued improvement through Week 24 ONWARD1 ONWARD2 Envudeucitinib 40 mg (n = 434) Placebo (n = 217) Apremilast 30 mg BID (n = 216) Envudeuciti
Slide 26: ONWARD1 and ONWARD2 Pooled Safety Through Week 16
ONWARD1 and ONWARD2 Pooled Safety Through Week 16 Through Week 16 Envudeucitinib Apremilast 40 mg BID Placebo 30 mg BID n (%) n = 890 n = 441 n = 438 ≥1 TEAE 524 (58.9) 166 (37.6) 223 (50.9) ≥1 SAE 19 (2.1) 5 (1.1) 5 (1.1) TEAE leading to treatment 30 (3.4) 7 (1.6) 9 (2.1) discontinuation TEAE grade
Slide 27: 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 28: Envudeucitinib Delivered Early and Progressively Deepening Skin Clearance
Envudeucitinib, a next-generation TYK2i, delivered early and progressively deepening skin clearance, with meaningful improvements in patient-reported outcomes in ONWARD1 and 2 〉All primary and secondary efficacy endpoints met, with approximately 65% and 40% of patients receiving envudeucitinib achie
Slide 29: Perspectives on Unmet Need in Treating Psoriasis
Perspectives on Unmet Need in Treating Psoriasis High efficacy orals may help address the gaps that persist in routine practice ➢ Significant disease burden remains • Itch, quality of life, involvement of difficult-to-treat areas ➢ Patients often cycle through treatments • Oral therapies providing r
Slide 30: Opportunity for Differentiation in Psoriasis
Envudeucitinib Opportunity for Differentiation in Psoriasis Dr. Jörn Drappa 30
Slide 31: Leading Skin Clearance and Symptom Relief Among Oral Plaque Psoriasis Therapies
Leading Skin Clearance and Symptom Relief Among Oral Plaque Psoriasis Therapies ONWARD1 and ONWARD2 Phase 3 Data Deep and sustained • Leading PASI 100 response rates • Highly competitive PASI 90 response rates responses • Rapid, significant improvements in scalp psoriasis • PSSD Robust symptom relie
Slide 32: Reproducibility Between ONWARD1 and ONWARD2 Across PASI 100 and sPGA-0
Envudeucitinib Demonstrated Reproducibility Between ONWARD1 and ONWARD2 and Consistency Across PASI 100 and sPGA-0 Responses 41.0 39.5 41.6 40.6 ONWARD1 ONWARD2 ONWARD1 ONWARD2 PASI 100 sPGA-0 Envudeucitinib data presented from ONWARD 1 and ONWARD 2 trials (AAD 2026). 32
Slide 33: Envudeucitinib: Leading PASI 100 Skin Clearance
Envudeucitinib: Leading PASI 100 Skin Clearance 41.0 41.5 42.3 39.5 33.2 32.1 ONWARD1 ONWARD2 ADVANCE1 ADVANCE2 LATITUDE 3001LATITUDE 3002 envudeucitinb icotrokinra zasocitinib Envudeucitinib data presented from ONWARD 1 and ONWARD 2 trials (AAD 2026). Icotrokinra data presented from ICONIC-ADVANCE
Slide 34: 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 35: 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 Skin Clearance o Early onset of action; PASI 90 responses emerged as early as Week 4 o Clear or almost clear scalp psoriasis as ea
Slide 36: Closing Remarks, Q&A
Envudeucitinib Closing Remarks, Q&A Martin Babler 36
Slide 37: Envudeucitinib: Next Generation Oral TYK2 Inhibitor
Envudeucitinib: Next Generation Oral TYK2 Inhibitor Differentiated profile: precision engineered for maximal 24-hour TYK2 inhibition Psoriasis Systemic Lupus Erythematosus Validated envudeucitinib as oral IL-23/IL-17 pathway inhibitor Potential to open multiple interferon-driven indications ONWARD1
Slide 38: 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 Cutaneous Lupus Erythematosus Dermatomyositis Erythrodermic Psoriasis Generalized Pustular Psoriasis Hidradenitis Suppurativa
Slide 39: Thank You!
alumis Thank You! alumis