TLDR
- Alumis shares soared 60% after Phase 3 psoriasis drug trials showed 65% of patients achieved PASI 90 and more than 40% achieved complete skin clearance
- Envudeucitinib met all primary and secondary endpoints in two separate studies with high statistical significance
- The drug showed faster results than its competitors, separating from the placebo by week 4
- Baird raised his price target from $17 to $35, calling the results “great” and envudeucitinib a “best-in-disease treatment option”
- FDA submission planned for second half of 2026, systemic lupus results expected in third quarter of 2026
Shares of Alumis soared 60% on Tuesday after the company released phase 3 results for its psoriasis treatment envudeucitinib.
The drug met all primary and secondary endpoints in two separate studies. Both studies tested envudeucitinib in patients with moderate to severe plaque psoriasis.
About 65% of patients achieved PASI 90 at week 24. That means their psoriasis symptoms improved by 90%.
Alumis Inc. common stock, ALMS
More than 40% achieved complete skin clearance, measured as PASI 100. These percentages remained consistent across both studies.
The drug works by inhibiting tyrosine kinase 2, or TYK2. This blocks two inflammatory pathways: IL-23 and IL-17.
Dr. Jörn Drappa, Chief Medical Officer at Alumis, said the drug delivers what TYK2 inhibition can provide. By maximizing inhibition of TYK2, envudeucitinib addresses disease control from multiple angles.
Patients saw results quickly. The drug separated from the placebo at week 4.
Performance against competitors
Envudeucitinib beat apremilast in both studies. The head-to-head comparison showed better skin clearance rates.
The safety profile was consistent with previous studies. Most side effects were mild to moderate.
Common reactions included headache, nasopharyngitis, upper respiratory tract infections and acne. The drug was generally well tolerated over the 24-week period.
Analyst response and timeline
Baird raised his price target on Alumis from $17 to $35 after the data release. The company maintained its Outperform rating.
Baird called the results “great” and said envudeucitinib is a good treatment. The new target is 86% above the current price of $18.84.
Analysts noted that the results lower the risk for other potential uses. The company is testing the drug in systemic lupus erythematosus.
Baird said inflammatory and immunology assets with this level of clinical validation typically trade at higher valuations. According to the company, the market has not yet priced in the full value.
Alumis plans to file a new drug application with the FDA in the second half of 2026. The company expects Phase 2b results for systemic lupus in the third quarter of 2026.
The stock is up 144% in the past six months, despite a 16% decline last week.
The post Alumis (ALMS) shares: Clinical trial results send shares up 60% on Tuesday appeared first on Blockonomi.
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