Biopharma firm Alumis rises after boosted $300 mln stock sale

Bristol-Myers Squibb Co

08/01/2026 12:59

** Biopharma co Alumis ALMS.O shares up 1.3% premarket to $18.15 after above-target $300 mln equity raise

    ** Co late Weds said it sold ~17.7 mln shares at $17, a 5.1% discount to last sale

    ** South San Francisco-based ALMS commenced $175 mln offering late Tues after its stock more than doubled on news that its skin disease drug, envudeucitinib, met the main goal in two late-stage studies

    ** ALMS shares rose about 10% on Weds

** Co plans to use net offering proceeds to fund potential marketing application to the U.S. FDA and launch preparations for envudeucitinib, fund clinical development of the drug, and for other pipeline and research programs, among other uses, per the offering prospectus

** Morgan Stanley, Leerink, Cantor Fitzgerald and Wells Fargo joint bookrunners

    ** All 8 analysts are bullish on the stock, including 4 "strong buy" ratings; median PT $33, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))