One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Alumis Inc.
ALMS · NMS · Healthcare · Biotechnology
Current price
$6.12
52-week range
$4.37 - $31.35
Market cap
$792.14M
Balance sheet
Healthy
-32.00x Concerning
Net cash $465.87M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
1 Risk
0 rewards · 1 risks
View details ↓What this company does
Alumis Inc.
Alumis Inc. is a drug company working on new medicines for diseases where the body's own defense system attacks itself, like skin conditions and other immune problems. Their main money comes from developing these new treatments, and it matters because successful drugs could help many patients and create significant value for the company.
How the company got here
Alumis Inc. wasn't always called Alumis. It started out as Esker Therapeutics, Inc. in 2021, and then changed its name in January 2022. The company is focused on creating new medicines for diseases where the body's own immune system mistakenly attacks itself, known as autoimmune disorders. It's a 'clinical stage' company, meaning its drug candidates are currently being tested in human trials, not yet available for widespread use.
What it actually does
Alumis is in the business of discovering and developing new drugs to treat autoimmune diseases. These are conditions like psoriasis and lupus, where the immune system, which normally protects the body, starts causing harm. The company is working on a specific type of drug called a TYK2 inhibitor, which aims to calm down an overactive immune response. They are also exploring treatments for neurological diseases that involve inflammation in the brain and spinal cord, as well as a condition affecting the eyes.
Envudeucitinib (TYK2 Inhibitor)
This is Alumis's main drug candidate, called envudeucitinib, which targets a specific pathway in the immune system (TYK2). It's being developed to treat two autoimmune conditions: plaque psoriasis, a skin condition causing red, itchy patches, and systemic lupus erythematosus, a more widespread autoimmune disease. The goal is to reduce the inflammation caused by the overactive immune system. This is currently Alumis's most advanced program, meaning it's furthest along in the testing process.
A-005 (CNS-Penetrant TYK2 Inhibitor)
A-005 is another drug candidate that also works by inhibiting TYK2, but it's designed to enter the central nervous system (CNS), which includes the brain and spinal cord. This makes it a potential treatment for neuroinflammatory and neurodegenerative diseases, which are conditions involving inflammation or damage to the nervous system. It is currently in the early stages of testing (Phase 1 trials).
Lonigutamab (IGF-1R Monoclonal Antibody)
Lonigutamab is a different type of drug, a monoclonal antibody, which is a lab-made protein that acts like a specific defender against a target. In this case, it targets IGF-1R, a protein involved in certain diseases. Alumis is developing lonigutamab to treat thyroid eye disease, a condition where the immune system attacks the tissues around the eyes, often associated with thyroid disorders. This represents a distinct therapeutic approach compared to their TYK2 inhibitors.
What management is betting on now
Alumis's leadership is focused on advancing its pipeline of drug candidates through clinical trials. Their primary strategy revolves around successfully developing and potentially commercializing envudeucitinib for psoriasis and lupus, as this is their most mature asset. They are also investing in the early-stage development of A-005 for neurological conditions and lonigutamab for thyroid eye disease. The company's success hinges on demonstrating the safety and effectiveness of these experimental treatments in human studies.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-84.55M
FY2024 Q4
$-75.13M
FY2025 Q1
$-80.39M
FY2025 Q2
$-106.97M
FY2025 Q3
$-110.91M
FY2025 Q4
$-71.91M
FY2026 Q1
$-87.25M
FY2026 Q2
$-81.74M
Revenue
$1.66M
Net income
$-142.22M
Diluted EPS
-1.11
Operating cash flow
$-81.50M
Free cash flow
$-81.74M
Fetching…
Sources
Revenue
$1.74M
Net income
$-93.05M
Diluted EPS
-0.74
Operating cash flow
$-87.08M
Free cash flow
$-87.25M
Fetching…
Sources
Revenue
$1.93M
Net income
$-92.93M
Diluted EPS
-0.75
Operating cash flow
$-71.91M
Free cash flow
$-71.91M
Fetching…
Sources
Revenue
$2.07M
Net income
$-110.75M
Diluted EPS
-1.06
Operating cash flow
$-110.91M
Free cash flow
$-110.91M
Fetching…
Sources
Revenue
$2.67M
Net income
$59.32M
Diluted EPS
0.77
Operating cash flow
$-106.35M
Free cash flow
$-106.97M
Fetching…
Sources
Revenue
$17.39M
Net income
$-98.96M
Diluted EPS
-1.82
Operating cash flow
$-80.36M
Free cash flow
$-80.39M
Fetching…
Sources
Revenue
—
Net income
$-94.76M
Diluted EPS
35.48
Operating cash flow
$-74.76M
Free cash flow
$-75.13M
Fetching…
Sources
Revenue
—
Net income
$-93.12M
Diluted EPS
-1.73
Operating cash flow
$-83.77M
Free cash flow
$-84.55M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $6.12
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $465.9M - more cash than debt. Interest coverage -32.0x.
Net debt
$-465.87M
Interest coverage
-32.00x
Alumis Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
ALMS
BASELINE
Alumis Inc.
Total debt $36.43M Interest coverage -32.00x This is the baseline the peer rows are being compared against.
Total debt $40.11M Interest coverage 78,282.00x This peer still has a real interest-payment cushion, while ALMS does not.
Total debt $4.09M Interest coverage -11.69x Neither company has much profit cushion over interest right now.
Total debt $47.51M Interest coverage -99.92x Neither company has much profit cushion over interest right now.
Total debt $73.85M Interest coverage 3.30x This peer still has a real interest-payment cushion, while ALMS does not.
What you should know
The case for and against ALMS
0 Rewards
1 Risk
Rewards
Risks
-
Return on equity was -93.6% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-2.13x
P/B
1.74x
P/S
107.08x
EV/EBITDA
-0.77x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
100.0%
Operating margin
-6,439.9%
Net margin
0.0%
ROE
-93.6%
ROA
-45.3%
Health
Liquidity and balance-sheet strength
Debt / equity
0.08x
Current ratio
6.74x
Quick ratio
6.64x
Total debt
$36.43M
Total cash
$502.29M
Growth
How the business has been compounding
Revenue TTM
$7.40M
Revenue 5Y CAGR
—
EPS TTM
-3.86
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-351.40M
Free CF TTM
$-370.18M
FCF margin
-5,003.7%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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