Alumis Q3 net loss narrows as R&D expenses decline
Overview
US biopharma reported Q3 net loss narrowed yr/yr as R&D expenses declined
Collaboration revenue for Q3 fell from prior year
Company highlighted positive Phase 3 data for psoriasis drug, NDA submission on track for Q4 2026
Outlook
Alumis remains on track to submit NDA for envudeucitinib in plaque psoriasis in 4Q 2026
Company expects cash, equivalents and securities to fund operations into 4Q 2027
Alumis plans to initiate Phase 2 biomarker trial for A-005 in Parkinson’s disease in 2027
Result Drivers
R&D SPENDING - Decrease in research and development expenses due to completion of pivotal Phase 3 trials for envudeucitinib, partially offset by higher costs for ongoing ONWARD3 trial
G&A COSTS - General and administrative expenses increased due to launch preparation efforts and higher personnel-related costs
CLINICAL DATA UPDATES - Company highlighted new Phase 3 data showing rapid and durable improvements in plaque psoriasis with envudeucitinib
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Loss | $94.88 mln | ||
Q3 Income From Operations | -$99.08 mln | ||
Q3 Operating Expenses | $100.98 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Alumis Inc. is $28.00, about 323% above its November 11 closing price of $6.62
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)