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Update: Alumis Shares Fall After Phase 2 Trial of Envudeucitinib in Lupus Misses Goals in Overall Trial Population

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(Updates with latest stock price movement in the headline and first paragraph.)

Alumis (ALMS) shares were down nearly 59% in Tuesday trading after the company said a phase 2 study of its envudeucitinib experimental drug in moderate-to-severe systemic lupus erythematosus failed to meet its primary and secondary endpoints in the overall trial population.

The company said a pre-specified subgroup of patients with high interferon gene signature showed "robust" responses that could support a path forward for regulatory engagement on a phase 3 study.

Alumis said the IFNGS-high group was under-represented in the trial, which affected the overall results.

The company said it plans to engage regulators to discuss phase 3 development of envudeucitinib in lupus erythematosus, while it remains on track to file a new drug application in Q4 for envudeucitinib in moderate-to-severe plaque psoriasis.

Price: $9.00, Change: $-12.81, Percent Change: -58.73%

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