Alumis is a clinical-stage biopharmaceutical company developing targeted therapies for immune-mediated diseases, with no approved products or commercial revenue. Alumis' lead asset is envudeucitinib (envu), an allosteric inhibitor of TYK2, a protein that mediates inflammatory signaling in diseases like psoriasis and lupus. By selectively blocking TYK2, envu aims to suppress disease-driving immune activity without the broad immunosuppression associated with older therapies. Envu completed two Phase 3 trials in plaque psoriasis, met all primary and secondary endpoints, and Alumis plans to file an NDA with the FDA in the second half of 2026. Envu is also in a Phase 2b trial for systemic lupus erythematosus, with topline results expected in Q3 2026. Beyond envu, Alumis has two additional pipeline assets: A-005, a CNS-penetrant TYK2 inhibitor targeting neuroinflammatory diseases like MS and Alzheimer's, which completed Phase 1 in late 2024; and lonigutamab, a subcutaneous monoclonal antibody targeting Thyroid Eye Disease, acquired through the April 2025 merger with ACELYRIN. Alumis funds operations through equity financing and relies on contract manufacturers for drug supply. The path to revenue runs through FDA approval of envu in psoriasis, after which Alumis plans to commercialize independently in key markets or through partnerships, while pursuing label expansion into additional indications.