ALMS Surges as Envudeucitinib Meets Goals in Plaque Psoriasis Studies

Shares of Alumis ALMS surged 95.3% on Jan. 6, after the company announced positive top-line data from its two phase III studies — ONWARD1 and ONWARD2 — which evaluated its pipeline candidate, envudeucitinib, for treating patients with moderate-to-severe plaque psoriasis, a chronic autoimmune skin disease.

Both the ONWARD1 and ONWARD2 studies met all primary and secondary endpoints with high statistical significance in patients with moderate-to-severe plaque psoriasis. Treatment with envudeucitinib led to superior skin clearance versus placebo on the co-primary endpoints of Psoriasis Area and Severity Index (PASI) 75 and static Physician’s Global Assessment (sPGA) 0/1 at week 16 in both studies.

On average, in the ONWARD1 and ONWARD2 studies, 74% of patients achieved PASI 75 and 59% achieved sPGA 0/1, with responses improving over time.

At week 24, across both studies, about 65% of patients achieved PASI 90 and more than 40% achieved PASI 100. Treatment with envudeucitinib was generally well tolerated through week 24 in both the ONWARD1 and ONWARD2 studies.

Treatment with envudeucitinib also achieved superior skin clearance compared with Amgen’s AMGN blockbuster psoriasis drug, Otezla (apremilast), in each study on all PASI endpoints at week 24.

Amgen acquired global commercial rights to Celgene’s (now part of Bristol-Myers) Otezla in late 2019. The acquisition significantly strengthened AMGN’s inflammation portfolio.

ALMS’ Price Performance

In the past six months, shares of Alumis have skyrocketed 366.4% compared with the industry’s rise of 19.1%.

More on ALMS’ Development Activities With Envudeucitinib

Per the company, the high rates of skin clearance and significant symptom improvements observed with envudeucitinib are among the strongest reported for an oral therapy.

By strongly inhibiting TYK2, envudeucitinib blocks both IL-23 and IL-17, two central drivers of psoriasis, providing broad disease control. This dual pathway suppression may lead to deeper and more durable skin clearance compared to existing therapies.

Alumis plans to submit a new drug application to the FDA seeking approval for envudeucitinib in moderate-to-severe plaque psoriasis in the second half of 2026.

The company is also evaluating envudeucitinib in the phase IIb LUMUS study for treating patients with systemic lupus erythematosus (SLE). Top-line data from the same is expected in the third quarter of 2026.

Management believes that if successfully developed envudeucitinib has the potential to transform the treatment landscape for IL-23/IL-17–driven diseases. Also, the highly differentiated clinical profile of envudeucitinib could make it an effective treatment in psoriasis, SLE and beyond as a true pipeline-in-a-pill.

Alumis Inc. Price

Alumis Inc. price | Alumis Inc. Quote

ALMS’ Zacks Rank & Stocks to Consider

Alumis currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are CorMedix CRMD and Exact Sciences EXAS, both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

In the past 60 days, estimates for CorMedix’s 2026 earnings per share (EPS) have moved up from $2.49 to $2.88. CRMD stock has decreased 0.2% in the past six months.

CorMedix’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 27.04%.

In the past 60 days, estimates for Exact Sciences’ 2026 EPS have moved up from $1.33 to $1.40. EXAS stock has surged 89.8% in the past six months.

Exact Sciences’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 352.28%.

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