<span item_type="fundamental" item_id="f1aac54a382165a04033df0be86466e2" counter_id="ST/US/ALMS" env="prod"></span><span item_type="announcement" item_id="648477887282482561" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 1.741 M, missing the estimate of USD 2.493 M.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -103.76 M.</p><p></p><h3>Financial Highlights for the Three Months Ended March 31, 2026</h3><h4>Cash and Marketable Securities</h4><p>Alumis Inc. reported cash, cash equivalents, and marketable securities of $569.5 million as of March 31, 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span></p><h4>Revenue</h4><p>Total revenue for the first quarter of 2026 was $1.7 million, a decrease from $17.4 million in the first quarter of 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> This included collaboration revenue of $1.7 million in Q1 2026, compared to license revenue of $17.4 million in Q1 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span></p><h4>Operating Expenses</h4><p>Research and development expenses decreased to $81.5 million in Q1 2026 from $96.6 million in Q1 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> General and administrative expenses also decreased to $18.6 million in Q1 2026 from $22.3 million in Q1 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> Total operating expenses were $100.150 million in Q1 2026, compared to $118.917 million in Q1 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span></p><h4>Net Loss</h4><p>Net loss for the first quarter of 2026 was -$93.1 million, an improvement from a net loss of -$99.0 million in the first quarter of 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> Loss from operations was -$98.409 million in Q1 2026, compared to -$101.528 million in Q1 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span></p><h4>Other Income</h4><p>Interest income increased to $5.349 million in Q1 2026 from $2.609 million in Q1 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> Total other income (expense), net, was $5.356 million in Q1 2026, compared to $2.565 million in Q1 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span></p><h3>Balance Sheet Highlights (as of March 31, 2026 vs. December 31, 2025)</h3><p>Total assets increased to $671.588 million from $411.940 million. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> Total liabilities decreased to $104.567 million from $110.643 million. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> Total stockholders’ equity increased to $567.021 million from $301.297 million. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span></p><h3>Operational Metrics and Achievements</h3><h4>Envudeucitinib Clinical Data</h4><p>Late-breaking Phase 3 data for envudeucitinib in moderate-to-severe plaque psoriasis (PsO) showed robust PASI 90 responses of 68.0% and 62.1% by Week 24, and PASI 100 responses of 41.0% and 39.5% by Week 24. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> Quality-of-life improvements and itch relief emerged ahead of PASI 90 skin clearance, indicating an early onset of clinical benefit. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> Scalp psoriasis clearance was observed in over 30% of patients by Week 4 and approximately three out of four patients by Week 24. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> Envudeucitinib demonstrated a favorable safety and tolerability profile consistent with the Phase 2 program. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span></p><h4>Lonigutamab Program</h4><p>Alumis Inc. has completed its strategic review of the lonigutamab program and decided to explore strategic alternatives for this asset. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span></p><h3>Outlook and Guidance</h3><p>Alumis Inc. anticipates submitting the New Drug Application (NDA) for envudeucitinib in moderate-to-severe plaque psoriasis in the fourth quarter of 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> Potentially pivotal Phase 2b topline data for envudeucitinib in systemic lupus erythematosus (SLE) is expected in the third quarter of 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span> The company’s existing cash, cash equivalents, and marketable securities as of March 31, 2026, are projected to fund operating expenses and capital expenditure requirements into the fourth quarter of 2027. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1847367/000184736726000009/alms-20260514xex99d1.htm"></span></p>

Alumis | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 1.741 M