Alumis

Q2 FY2026 EarningsQ2 FY2026 results missed consensus estimates across key financial metrics, with revenue of $1.66M falling -52.07% short of expectations. The net loss widened significantly to $142.2M, primarily driven by a $41.8M impairment charge on lonigutamab and higher clinical trial costs for envudeucitinib. Despite the financial miss, clinical progress remains on track with the ONWARD3 long-term data positioning envudeucitinib as a potential best-in-class oral therapy in Psoriasis, and the Q4 2026 NDA submission remains the key catalyst.