Alumis tumbles after lupus drug misses main goal in mid-stage trial
BUZZ-Alumis tumbles after lupus drug misses main goal in mid-stage trial ** Shares of biopharma company Alumis ALMS.O fall 54.2% to $9.99 premarket
** Co says its mid-stage study of experimental drug envudeucitinib in systemic lupus erythematosus, an autoimmune disease in which the immune system attacks healthy tissues, missed both primary and secondary goals in the overall patient group
** Says a prespecified subgroup of patients with a high interferon gene signature, a marker linked to inflammation in lupus, showed responses on the main efficacy measure and key secondary endpoints
** Alumis plans to discuss late-stage development with regulators based on those subgroup results
** Co says envudeucitinib was generally well-tolerated and no new safety signals were observed
** Alumis remains on track to file for U.S. approval of envudeucitinib in moderate-to-severe plaque psoriasis in Q4 2026
** As of last close, stock up ~124% YTD
(Reporting by Sahil Pandey in Bengaluru)
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