---
title: "Alumis | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 1.741 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286501154.md"
datetime: "2026-05-15T03:15:38.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286501154.md)
  - [en](https://longbridge.com/en/news/286501154.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286501154.md)
---

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

Revenue: As of FY2026 Q1, the actual value is USD 1.741 M, missing the estimate of USD 2.493 M.

EBIT: As of FY2026 Q1, the actual value is USD -103.76 M.

### Financial Highlights for the Three Months Ended March 31, 2026

#### Cash and Marketable Securities

Alumis Inc. reported cash, cash equivalents, and marketable securities of $569.5 million as of March 31, 2026.

#### Revenue

Total revenue for the first quarter of 2026 was $1.7 million, a decrease from $17.4 million in the first quarter of 2025. This included collaboration revenue of $1.7 million in Q1 2026, compared to license revenue of $17.4 million in Q1 2025.

#### Operating Expenses

Research and development expenses decreased to $81.5 million in Q1 2026 from $96.6 million in Q1 2025. General and administrative expenses also decreased to $18.6 million in Q1 2026 from $22.3 million in Q1 2025. Total operating expenses were $100.150 million in Q1 2026, compared to $118.917 million in Q1 2025.

#### Net Loss

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. Loss from operations was -$98.409 million in Q1 2026, compared to -$101.528 million in Q1 2025.

#### Other Income

Interest income increased to $5.349 million in Q1 2026 from $2.609 million in Q1 2025. Total other income (expense), net, was $5.356 million in Q1 2026, compared to $2.565 million in Q1 2025.

### Balance Sheet Highlights (as of March 31, 2026 vs. December 31, 2025)

Total assets increased to $671.588 million from $411.940 million. Total liabilities decreased to $104.567 million from $110.643 million. Total stockholders’ equity increased to $567.021 million from $301.297 million.

### Operational Metrics and Achievements

#### Envudeucitinib Clinical Data

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. Quality-of-life improvements and itch relief emerged ahead of PASI 90 skin clearance, indicating an early onset of clinical benefit. Scalp psoriasis clearance was observed in over 30% of patients by Week 4 and approximately three out of four patients by Week 24. Envudeucitinib demonstrated a favorable safety and tolerability profile consistent with the Phase 2 program.

#### Lonigutamab Program

Alumis Inc. has completed its strategic review of the lonigutamab program and decided to explore strategic alternatives for this asset.

### Outlook and Guidance

Alumis Inc. anticipates submitting the New Drug Application (NDA) for envudeucitinib in moderate-to-severe plaque psoriasis in the fourth quarter of 2026. Potentially pivotal Phase 2b topline data for envudeucitinib in systemic lupus erythematosus (SLE) is expected in the third quarter of 2026. 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.

### Related Stocks

- [ALMS.US](https://longbridge.com/en/quote/ALMS.US.md)

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