Alumis (ALMS) investor relations material

Strategic focus and pipeline overview

• Precision-engineered TYK2 inhibitors target immune-mediated diseases, with two main candidates: envudeucitinib and A-005, offering broad therapeutic potential across dermatology, rheumatology, gastroenterology, and neurology.

• Envudeucitinib is in late-stage development for moderate-to-severe plaque psoriasis and systemic lupus erythematosus (SLE), with additional indications under evaluation.

• A-005 is a CNS-penetrant TYK2 inhibitor, phase 2 ready, targeting neuroinflammatory and peripheral immune-mediated diseases.

• The combined market opportunity for TYK2 inhibitors is projected to exceed $180B by 2032.

• Strategic review of lonigutamab is underway, with potential divestment or partnership.

Clinical data and efficacy highlights

• Envudeucitinib demonstrated leading PASI 100 skin clearance rates (~41%) at week 24 in phase 3 psoriasis trials, outperforming other oral therapies.

• Rapid onset of action with significant PASI 90 responses as early as week 4; robust improvements in itch and quality of life precede skin clearance.

• Consistent efficacy and safety profiles observed across ONWARD1 and ONWARD2 trials, with reproducible results.

• Scalp psoriasis and patient-reported outcomes showed significant early and sustained improvements.

• Safety profile is favorable, with low rates of serious adverse events and no significant lab abnormalities or TB reactivation.

Market opportunity and unmet needs

• Psoriasis and SLE represent large, underserved markets, with high rates of undertreatment and therapy discontinuation.

• High-efficacy oral therapies are well positioned to capture share in the $40B psoriasis and $11B lupus markets by 2030.

• No single brand or mechanism dominates the psoriasis market; high switching rates and access barriers create opportunities for differentiated orals.

• SLE patients face limited options, with current therapies offering modest efficacy and significant side effects.