Form 8-K

8-K — ALUMIS INC.

Accession: 0001104659-26-078507

Filed: 2026-06-29

Period: 2026-06-29

CIK: 0001847367

SIC: 2834 (PHARMACEUTICAL PREPARATIONS)

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — tm2619143d1_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (tm2619143d1_ex99-1.htm)

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8-K — FORM 8-K

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0001847367

2026-06-29

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.

20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities

Exchange Act of 1934

Date of Report (Date of earliest event reported):

June 29, 2026

Alumis Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-42143

86-1771129

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

280 East Grand Avenue

South San Francisco, California 94080

(Address of principal executive offices)

Registrant’s telephone number, including area code: (650) 231-6625

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities

Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange

Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under

the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under

the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b)

of the Act:

Title of each class

Trading

Symbol(s)

Name

of each exchange

on which registered

Common Stock, $0.0001 par value per share

ALMS

The Nasdaq Global Select Market

Indicate by check mark whether

the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule

12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 8.01.

Other Events.

On June 29, 2026, Alumis

Inc. (the “Company”) updated its corporate presentation for use in meetings with investors, analysts, and others. The presentation

is available on the Company’s website and a copy of the presentation is furnished as Exhibit 99.1 to this Current Report on Form

8-K (the “Report”).

The information set forth

in this Report, including without limitation the presentation, is not deemed “filed” for purposes of Section 18 of the Securities

Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act

of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such a filing.

Item 9.01.

Financial Statements and Exhibits.

(d)   Exhibits.

Exhibit No.

Description

99.1

Corporate Presentation dated June 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL Document).

SIGNATURES

Pursuant to the requirements of the Securities

Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Alumis Inc.

By:

/s/ Martin Babler

Martin Babler

President & Chief Executive Officer

Dated: June 29, 2026

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: tm2619143d1_ex99-1.htm · Sequence: 2

Exhibit 99.1

Transforming Immune-Mediated

Disease Treatment with Precision

Engineered TYK2 Inhibitors

Corporate Deck: June 2026

Forward-Looking Statements

This presentation contains forward looking statements within the meaning of federal securities laws, including the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon current

plans, estimates and expectations of management of Alumis Inc. (“Alumis”) in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause

actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as “anticipate,”

“expect,” “project,” “intend,” “believe,” “may,” “will,” “should,” “plan,” “could,” “continue,” “target,” “contemplate,” “estimate,” “forecast,” “guidance,” “predict,” “possible,” “potential,” “pursue,” “likely,” and words and terms of similar

substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. All statements, other than statements of historical facts, including express or implied statements regarding the timing

of the initiation of clinical trials, including for envu, A-005 and Alumis' next clinical candidate, the timing of clinical data readouts in its ongoing clinical trials, including Alumis’ topline data in its Phase 2b LUMUS trial, as well as long-term and

safety data, the timing of Alumis' planned NDA submission with the FDA for envudeucitinib in moderate-to-severe plaque psoriasis, the potential for envudeucitinib to treat moderate-to-severe plaque psoriasis, systemic lupus

erythematosus and other immune-mediated diseases, Alumis’ plans to explore strategic alternatives for lonigutamab, any expectations regarding the safety, efficacy or tolerability of its drug candidates and statements regarding Alumis'

future plans and prospects, including development of its clinical pipeline and the commencement of additional clinical trials; Alumis' participation at upcoming conferences; expectations of the size of market opportunity, the potential for

envudeucitinib to be a best-in-disease oral in psoriasis, future plans and prospects including our cash runway and development of our development pipeline and any assumptions underlying the foregoing, our competitive ability and

position, our clinical pipeline, and any assumptions underlying any of the foregoing, are forward-looking statements.

Risks and uncertainties include, among other things, the risk that Alumis may be adversely affected by economic, business and/or competitive factors; the risk that the anticipated benefits and synergies of the recent merger with ACELYRIN,

Inc. may not be fully realized or may take longer to realize than expected, including the risk that the combined company may not be able to be successfully integrated and achieve the growth prospects expected from the transaction; the

impact of legislative, regulatory, economic, competitive and technological changes; the implementation of our business model and strategic plans for our product candidates and pipeline, and challenges inherent in developing,

commercializing, manufacturing, launching, marketing and selling potential existing and new products and product candidates; the scope, progress, results and costs of developing our product candidates and any future product candidates,

including conducting preclinical studies and clinical trials, and otherwise related to the research and development of our pipeline; the timing and costs involved in obtaining and maintaining regulatory approval for current or future product

candidates, and any related restrictions, limitations and/or warnings in the label of any product, if and once approved; the market for, adoption (including rate and degree of market acceptance) and pricing and reimbursement of our

product candidates, if approved, and their respective abilities to compete with therapies and procedures that are rapidly growing and evolving; uncertainties in contractual relationships, including collaborations, partnerships, licensing or

other arrangements and the performance of third party suppliers and manufacturers; our ability to establish and maintain intellectual property protection for products or avoid or defend claims of infringement; and potential delays in

initiating, enrolling or completing preclinical studies and clinical trials.

While the list of factors presented here are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. For additional information about other factors that could cause

actual results to differ materially from those described in the forward-looking statements, please refer to our periodic reports and other filings with the Securities and Exchange Commission (the “SEC”), including the risk factors identified in

our most recent Quarterly Report on Form 10-Q. The risks and uncertainties described above and in the SEC filings cited above are not exclusive and further information concerning us and our businesses, including factors that potentially

could materially affect our business, financial conditions or operating results, may emerge from time to time. Readers are urged to consider these factors carefully in evaluating these forward-looking statements, and not to place undue

reliance on any forward-looking statements, which speak only as of the date hereof. Readers should also carefully review the risk factors described in other documents we file from time to time with the SEC.

The forward-looking statements included in this presentation are made only as of the date hereof. Alumis assumes no obligation and does not intend to update these forward-looking statements, even if new information becomes available

in the future, except as required by law.

Certain of the data in this presentation are not based on head-to-head or comparator trials. Differences exist between trial designs and caution should be exercised when comparing data acrosstrials.

This presentation contains trademarks, service marks, trade names and copyrights of Alumis and other companies which are the property of their respective owners. This presentation discusses product candidates that are under clinical

study and which have not yet been approved for marketing by the U.S. Food and Drug Administration. No representation is made as to the safety or effectiveness of these product candidates for the uses for which they are being studied.

This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. These data involve a number of assumptions and limitations,

and you are cautioned not to give undue weight to such estimates. We have not independently verified the data generated by independent parties and cannot guarantee their accuracy or completeness. In addition, projections, assumptions,

and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk.

Additional Information and Where to Find It

Copies of documents filed with the SEC by Alumis are available free of charge under the SEC Filings heading of the Investor Relations section of Alumis’ website at https://investors.alumis.com/.

• Significant market opportunity (projected $180B+2

) across many indications with potential to

be addressed by TYK2 molecules. Envudeucitinib and A-005 provide two pipelines-in-a-pill

• Additional envudeucitinib indications: prioritizing Sjögren’s disease and Cutaneous Lupus

Erythematosus (CLE)3

• Envudeucitinib delivered highly significant efficacy with leading PASI 100 responses and early and

robust improvements in skin clearance, quality of life, and symptoms

• Envudeucitinib Psoriasis: Additional data (2H 2026) and NDA filing (4Q 2026)

• Envudeucitinib SLE: Potentially pivotal Phase 2b SLE topline data (3Q 2026)

• A-005: Initiation of Phase 2 biomarker trial in Parkinson’s disease (1H 2027)

• Global opportunity for Psoriasis (~$40B) and Lupus (~$11B) expected by 20301

• High efficacy orals expected to drive market growth

• Envudeucitinib and A-005 are precision engineered for 24-hour maximal target inhibition

• Maximal inhibition translates to leading Phase 3 efficacy with balanced safety and tolerability

Alumis' Next-Gen TYK2 Inhibitors: Two Pipelines-in-a-Pill

Positive

Psoriasis Phase 3

Significant Near-term Value

Broad TYK2

Opportunity

Anticipated

Milestones

Differentiated

TYK2i's

1 and 2: 2030 market projections; Source: Evaluate Pharma, January 2026.

3 Advancement decisions will be guided by LUMUS readout and disciplined capital allocation.

Hypothesis validated: maximal target engagement translates into higher clinical efficacy

Positioned to Unlock the Full Potential of TYK2i Mechanism

Human Genetics: TYK2 loss-of-function variants protect against immune mediated disorders

Known Mechanism: TYK2 is an upstream mediator of immune disease (IL-23/IL-17, IL-12, Type I Interferon)

Clinically Validated: Efficacy in plaque psoriasis, psoriatic arthritis, CLE and SLE

Power of TYK2i

• Breadth of IL-23/IL-17 and Type I IFN-driven

diseases

• Peripheral and CNS indications

• Portfolio optimization with multiple molecules

and formulations

Alumis Opportunity

• Sustained and maximal TYK2 inhibition

• High kinome selectivity for TYK2

• Safety and tolerability

What Matters

Unlocking TYK2i Full Therapeutic Potential

Late-stage Pipeline with Multiple Near-term Anticipated Milestones

Our pathway to patients

Program Indication Preclinical Phase 1 Phase 2 Phase 3

TYK2i

Envudeucitinib

Plaque Psoriasis

Systemic Lupus Erythematosus (SLE)

A-005 Parkinson’s Disease1

Other

IRF5/Additional Targets Undisclosed

Lonigutamab

Exploring strategic alternatives

1. Phase 2 biomarker trial

Key Achievements and Anticipated Milestones for 2026

1Q26

1H26

2Q26

3Q26

2H26

Q426

Envu – PsO Phase 3 Topline Data for 16- and 24-week Endpoints

Envu – PsO Phase 3 Additional Data Presented at AAD

Lonigutamab – Completion of Strategic Review

TYK2 Franchise Development Strategy (Envu and A-005) - Evaluation of Additional Indications

Envu – SLE Phase 2b Topline Data

Envu – PsO ONWARD3 Topline Data

Envu – PsO Phase 2 Two-Year Safety Data

Phase 1 trial Initiation – next clinical candidate (new target)

Envu – PsO NDA Filing

Envudeucitinib: Highly Selective

TYK2i Being Developed for

Moderate-to-Severe Plaque Psoriasis

Many patients remain untreated or undertreated, despite available treatments

1. National Psoriasis Foundation. Psoriasis Statistics. Available at: https://www.psoriasis.org/content/statistics. Accessed December 2025.

2. IQVIA Analysis, Stable and eligible newly diagnosed patients from April 2021– March 2022 utilized for longitudinal analysis; all patients have at least 24M of look forward post-Dx.

Note: Last data March 2024; product and market dynamics since March 2024 not reflected here.

3. Veeva Claims Analysis.

Significant Disease Burden Remains in Psoriasis

• Persistent Symptoms: Many patients continue to experience itch, pain, and

visible skin lesions despite current therapies

• Quality-of-Life Impact: Psoriasis still significantly affects daily activities, social

interactions, and emotional well-being

• Inadequate Therapies: Most patients receive treatments that provide limited

benefit and do not address the systemic nature of the disease

• Undertreatment with Low-Efficacy Options: Fewer than 10% of patients are

currently treated with high efficacy drugs including biologics2

• High Therapy Discontinuation: Lack of efficacy and poor tolerability lead to

two-thirds of patients discontinuing oral therapies within 12 months3

• Comorbidities and Long-Term Risk: Psoriasis patients face elevated risks for

arthritis, cardiovascular disease, and other systemic complications

Untreated,

Light

Therapy

Topicals

Lower Efficacy

Oral

Injectable

Biologic

>8M Diagnosed

U.S. Patients1

Significant Unmet Market Opportunity Driven by Persistent Disease,

Undertreatment, and High Therapy Discontinuation

Majority of Psoriasis Patients Remain

Untreated or Undertreated

High-efficacy orals well-positioned to capture market share in $40B projected market by 20301

1. Source: Evaluate Pharma as of December 2025.

2. Source: Veeva Claims data from 1/1/2025 to 6/30/25. Oral: apremilast, deucravacitinib; TNF: certolizumab, etanercept, Infliximab; IL-17: ixekizumab, secukinumab, bimekizuma, brodalumab; IL23:

Risankizumab, guselkumab, tildrakizumab, ustekinumab.

3. Veeva Claims Analysis.

Multiple Entry Points Available in Growing Psoriasis Market

• No single Brand or Mechanism of Action has dominant market share

Otezla is the most prescribed systemic therapy

• High switching rates

44% of systemically treated patients switched to a new therapy in the last

12 months3

• Access barriers

High cost, payor restrictions, administrative hurdles limit biologic uptake,

leaving space for accessible alternatives

• Low brand loyalty

HCPs prefer having multiple options; frequently switch/rotate therapies

Multiple Market Dynamics Drive Opportunity for Oral and

Differentiated Therapies

Estimated Market Share

by Brand and MOA2

IL-17

TNF IL-23

Low Efficacy

Oral

Estimated Market Share

by Brand and MOA2

Key Drivers of Use in Psoriasis Treatment

1. In Industry surveys: J&J Business Review Dec 2023 (survey of n=395 patients with moderate-to-severe psoriasis).

2. Internal company market research.

I’m tired. Tired of the itching, the

burning, the flaking - tired of how

you (psoriasis) make me feel

about my own skin. You've made

me self-conscious in ways I never

thought possible.

– Patient2

We are definitely lacking orals

because whatever we have here

in terms of the orals, the efficacy

is not there yet.

– Derm2

HCP Treatment Goals: HCP Preferences

Simplicity

Easy regimens, minimal monitoring, and

reduced administrative steps

Treating harder, earlier

Recognize that faster, more complete

clearance reduces long-term disease and

quality-of-life impact

PASI 90/PASI 100 outcomes

Low AEs

Itch relief

Patient Treatment Goals: Patient Preferences

Orals

75% of patients choose an oral over a

biologic1

Convenience

Fit with routine and lifestyle, favor flexible

dosing without food restrictions

Skin clearance

Symptom relief including itch

Safety

Envudeucitinib is a Next-Generation, Highly Selective Oral Allosteric TYK2

Inhibitor

Oral systemic therapy that addresses immune dysregulation at its source, delivering

robust skin clearance and early symptom relief that impacts quality of life Unmet need

Inhibiting TYK2, a central upstream regulator of multiple psoriasis pathways,

blocks both IL-23 and IL-17 to address immune dysregulation

Power of TYK2

Envudeucitinib is precision engineered to deliver maximal 24-hour inhibition, enabling

early and broad disease control1,2

Unlocking TYK2’s

full potential

1. Ucpinar S, et al. Clin Transl Sci. 2024;17(12):e70094. 2. Blauvelt A, et al. J Am Acad Dermatol. 2026;94(1):57-65.

Envudeucitinib is an investigational therapy not reviewed or approved by any regulatory agency.

Phase 3 Psoriasis Clinical Program: Well-Designed and Rapidly Executed

Two Phase 3 trials and LTE to evaluate efficacy & safety of envudeucitinib in moderate-to-severe plaque psoriasis

Envudeucitinib, 40mg BID (N=420)

Treatment Period Maintenance

Placebo (N=210)

Wk 16: Rollover

to envudeucitinib

Apremilast, 30mg BID (N=210)

Envudeucitinib

LTE Open Label

2:1:1

Randomization

N= 840

Primary End

Point

End of Ph3

BL 1 2 4 8 12 20

〉ONWARD1 and ONWARD2: 24-week duration,

placebo and active comparator (apremilast) controlled

〉ONWARD3: Long-term extension (LTE)

study, includes treatment withdrawal

period starting at Week 24

Week

* Reflects trial design; not actual enrollment figures.

ONWARD1 and ONWARD2 Phase 3 Data Update AAD March 2026

Envudeucitinib Delivered Early and Robust Improvements in Skin Clearance, with Meaningful Improvements

in Psoriasis Symptom Relief and QoL

• Leading PASI 100 skin clearance

among oral plaque psoriasis

therapies; consistent across

ONWARD1 and 2

• Compelling differentiation and

rapid improvement in patient

reported outcomes

• Differentiated and attractive

profile for physicians and patients

Early onset of action;

PASI 90 responses

emerged as early as Wk 4

Highly statistically

significant Ph3 efficacy;

robust skin clearance

through Wk 24

Broad and meaningful

clinical benefits emerged

early; QoL and itch

improvements appeared

before PASI 90 skin

clearance

Generally well tolerated;

safety profile consistent

with Phase 2

Envudeucitinib is an investigational therapy not reviewed or approved by any regulatory agency.

Note: the comparisons on this slide relate to retrospective post hoc cross-trial comparisons, which may not be directly comparable. Differences exist between trial designs and subject

characteristics, and caution should be exercised when comparing data across unrelated studies.

Envudeucitinib Demonstrated Reproducibility Between ONWARD1 and

ONWARD2 and Consistency Across PASI 100 and sPGA-0 Responses

Envudeucitinib data presented from ONWARD 1 and ONWARD 2 trials (AAD 2026).

envudeucitinib envudeucitinib

41.0% 39.5%

ONWARD1 ONWARD2

41.6% 40.6%

ONWARD1 ONWARD2

Week 24

PASI 100 Responders

Week 24

sPGA-0 Responders

Envudeucitinib: Leading PASI 100 Skin Clearance

Envudeucitinib data presented from ONWARD 1 and ONWARD 2 trials (AAD 2026).

Icotrokinra data presented from ICONIC-ADVANCE 1 and ICONIC-ADVANCE 2 trials (Stein Gold L. et. al Lancet, 2025).

Zasocitinib data presented from LATITUDE-PsO-3001 and LATITUDE-PsO-3002 (AAD 2026).

Note: The results of this retrospective post hoc cross-trial comparison may not be directly comparable. Differences exist between trial designs and subject characteristics, and caution

should be exercised when comparing data cross unrelated studies.

envudeucitinib icotrokinra zasocitinib

41.0% 39.5%

ONWARD1 ONWARD2

41.5%

33.2%

ADVANCE1 ADVANCE2

42.3%

32.1%

LATITUDE 3001LATITUDE 3002

Week 24

PASI 100 Responders

Envudeucitinib Resulted in Rapidly Increasing, Statistically Significant

PASI 90 Response Rates vs Placebo and Apremilast

Intention-to-treat population. The 95% CIs and P-values of the treatment differences were based on the Cochran-Mantel-Haenszel test adjusted for stratification factors. Nonresponder imputation was applied

for missing data. ***P <0.0001 vs placebo and apremilast.

BID, bis in die (twice daily); CI, confidence interval; PASI 90, ≥90% improvement in Psoriasis Area and Severity Index.

Early onset of action: separation vs placebo observed at Week 4

0.0

4.8

27.4

45.2

59.9

66.7 68.0

0.5 0.4

2.6

4.4 4.8 18.8

39.0

0.5 2.7

7.6

15.9

21.5 22.5

25.6

100

0 4 8 12 16 20 24

PASI 90 Responders, % (95% CI)

Week

Envudeucitinib 40 mg BID (n = 459) Placebo (n = 230)

Apremilast 30 mg BID (n = 223)

ONWARD1 ONWARD2

/Envudeucitinib 40 mg BID (n = 205)

***

0.5 4.4

24.8

44.2

53.1 56.6

62.1

0.0 0.0

0.9 2.9 4.3 18.1

39.5

0.5 1.4 10.7

16.4 20.9

25.9

25.6

100

0 4 8 12 16 20 24

PASI 90 Responders, % (95% CI)

Week

Envudeucitinib 40 mg BID (n = 433) Placebo (n = 211)

Apremilast 30 mg BID (n = 215) /Envudeucitinib 40 mg BID (n = 185)

***

Envudeucitinib is investigational; not yet reviewed by regulatory agencies

Envudeucitinib Demonstrated Robust and Progressive Improvement in

PASI 100 Response Rates Over Time

Intention-to-treat population. The 95% CIs and P-values of the treatment differences were based on the Cochran-Mantel-Haenszel test adjusted for stratification factors. Nonresponder imputation was

applied for missing data. ***P <0.0001 vs placebo and apremilast.

BID, bis in die (twice daily); CI, confidence interval; PASI 100, 100% improvement in Psoriasis Area and Severity Index.

Approximately 40% complete skin clearance at Week 24 without evidence of plateau

***

0.2 0.7

9.3

21.2

27.7

34.7

39.5

0.0 0.0

0.5

1.0

0.9

6.0

18.4

0.0 0.0

2.3

5.2

7.9

11.3

13.0

0 4 8 12 16 20 24

PASI 100 Responders, % (95% CI)

Week

Envudeucitinib 40 mg BID (n = 433) Placebo (n = 211)

Apremilast 30 mg BID (n = 215) /Envudeucitinib 40 mg BID (n = 185)

***

ONWARD1 ONWARD2

0.0 0.9

8.1

20.4

29.4

36.3

41.0

0.0 0.0

0.0

0.4 0.9

5.0

13.7

0.0 0.4

2.7

3.6 4.0 5.0

8.5

0 4 8 12 16 20 24

PASI 100 Responders, % (95% CI)

Week

Envudeucitinib 40 mg BID (n = 459) Placebo (n = 230)

Apremilast 30 mg BID (n = 223)

Envudeucitinib is investigational; not yet reviewed by regulatory agencies

/Envudeucitinib 40 mg BID (n = 205)

Rapid, Significant, and Sustained Scalp Psoriasis Improvement With

Envudeucitinib

Intention-to-treat population. The 95% CIs and P-values of the treatment differences were based on the Cochran-Mantel-Haenszel test adjusted for stratification factors. Nonresponder

imputation was applied for missing data. aIn patients with baseline ss-PGA ≥3. ***P <0.0001 vs placebo at Week 16 and apremilast at Week 24.

BID, bis in die (twice daily); CI, confidence interval; ss-PGA-0/1, scalp-specific Physician’s Global Assessment 0 (clear) or 1 (almost clear).

Approximately 3 in 4 patients receiving envudeucitinib achieved ss-PGA-0/1a at Week 24,

with over 30% response as early as Week 4

14.3

35.1

60.9

69.1

74.5 78.7 77.4

6.2

14.2 17.0

24.6 25.2

55.4 65.6

5.5

18.7 34.7

45.9 48.0

47.0 48.7

100

0 4 8 12 16 20 24

ss-PGA-0/1 Responders, % (95% CI)

Week

Envudeucitinib 40 mg BID (n = 274) Placebo (n = 135) Apremilast 30 mg BID (n = 150)

/Envudeucitinib 40 mg BID (n = 122)

14.2

32.2

54.6

67.5 70.9

76.0 74.7

3.6

10.7

13.6

18.4

20.7

54.4 65.6

9.1

19.4

40.3

40.9 38.8

48.5

41.8

100

0 4 8 12 16 20 24

ss-PGA-0/1 Responders, % (95% CI)

Week

Envudeucitinib 40 mg BID (n = 285) Placebo (n = 140) Apremilast 30 mg BID (n = 134)

ONWARD1 ONWARD2

/Envudeucitinib 40 mg BID (n = 125)

*** ***

***

Envudeucitinib is investigational; not yet reviewed by regulatory agencies

Benefits in Itch Reduction and Quality of Life Visible Before Skin Clearance

Intention-to-treat population. For DLQI and PASI 90, the 95% CIs and P-values of the treatment differences were based on the Cochran-Mantel-Haenszel test adjusted for stratification factors. Nonresponder

imputation was applied for missing data. For itch, LSMs, CIs, and P-values are based on MMRM. aLSM change from baseline in worst pruritus NRS.

BID, bis in die (twice daily); CI, confidence interval; DLQI, Dermatology Life Quality Index; DLQI-0/1, DLQI 0 or 1; LSM, least-squares mean; MMRM, mixed model for repeated measures; NRS, numeric rating scale;

PASI 90, ≥90% improvement in Psoriasis Area and Severity Index.

Patients receiving envudeucitinib showed robust, early improvements in

DLQI and itch that preceded PASI 90 responses

ONWARD1 ONWARD2

Week

0 4 8 12 16 20 24

Responders, % (95% CI)

Envudeucitinib 40 mg BID

-8

-6

-4

-2

Itch Δ Baselinea (95% CI)

DLQI-0/1

PASI 90

ITCH

Week

0 4 8 12 16 20 24

Responders, % (95% CI)

Envudeucitinib 40 mg BID

-8

-6

-4

-2

Itch Δ Baselinea (95% CI)

DLQI-0/1

PASI 90

ITCH

Envudeucitinib is investigational; not yet reviewed by regulatory agencies

Envudeucitinib is investigational; not yet reviewed by regulatory agencies. Differences exist between trial design and subject characteristics, and caution should be exercised when comparing data across

unrelated studies.

Envudeucitinib’s Differentiated and Attractive Profile for Physicians and Patients

• Leading and consistent PASI 100 skin clearance among oral plaque psoriasis therapies

o Early onset of action; PASI 90 responses emerged as early as Week 4

o Clear or almost clear scalp psoriasis as early as Week 4

• Improvements across burdensome symptoms highlight early onset and broad

clinical benefit

o Rapid and profound improvements in Quality-of-life measures

o Meaningful itch relief was apparent before PASI 90 skin clearance

• Generally well tolerated through Week 24 in ONWARD trials; safety profile consistent

with Phase 2 program

o No clinically significant lab abnormalities observed

o No TB reactivations

Skin Clearance

Patient Reported

Outcomes

Safety

• ONWARD3: Wk 48 results on LT efficacy & safety/tolerability, durability & maintenance

• Additional special areas (palmoplantar, nails)

• Biomarker analysis

Upcoming Data

ONWARD1 and ONWARD2 Pooled Safety Through Weeks 16 and 24

Safety analysis population; pooled ONWARD1 and ONWARD2 data. aTEAEs occurring in ≥5% of patients in any treatment arm through either Week 16 or Week 24.

bThirty-nine patients with latent or treated TB were enrolled.

AE, adverse event; BID, bis in die (twice daily); MACE, major adverse cardiovascular event; SAE, serious AE; TB, tuberculosis; TEAE, treatment-emergent AE.

Through Week 16 Through Week 24

n (%)

Envudeucitinib

40 mg BID

n = 890

Placebo

n = 441

Apremilast

30 mg BID

n = 438

Envudeucitinib

40 mg BID

only

n = 890

Placebo to

Envudeucitinib

40 mg BID

n = 390

Overall

Envudeucitinib

40 mg BID

n = 1280

Apremilast

30 mg BID

n = 438

≥1 TEAE 524 (58.9) 166 (37.6) 223 (50.9) 563 (63.3) 130 (33.3) 693 (54.1) 248 (56.6)

≥1 SAE 19 (2.1) 5 (1.1) 5 (1.1) 24 (2.7) 1 (0.3) 25 (2.0) 6 (1.4)

TEAE leading to treatment

discontinuation 30 (3.4) 7 (1.6) 9 (2.1) 31 (3.5) 4 (1.0) 35 (2.7) 12 (2.7)

TEAE grade ≥3 42 (4.7) 14 (3.2) 18 (4.1) 48 (5.4) 7 (1.8) 55 (4.3) 23 (5.3)

Most-frequent TEAEs (≥5%)a

Nasopharyngitis 64 (7.2) 21 (4.8) 16 (3.7) 92 (10.3) 18 (4.6) 110 (8.6) 26 (5.9)

Headache 92 (10.3) 11 (2.5) 40 (9.1) 97 (10.9) 11 (2.8) 108 (8.4) 42 (9.6)

Upper respiratory tract infection 43 (4.8) 7 (1.6) 16 (3.7) 57 (6.4) 2 (0.5) 59 (4.6) 21 (4.8)

Acne 53 (6.0) 3 (0.7) 3 (0.7) 60 (6.7) 17 (4.4) 77 (6.0) 3 (0.7)

Nausea 20 (2.2) 4 (0.9) 23 (5.3) 20 (2.2) 0 20 (1.6) 23 (5.3)

Diarrhea 14 (1.6) 11 (2.5) 36 (8.2) 16 (1.8) 1 (0.3) 17 (1.3) 36 (8.2)

〉 Envudeucitinib showed low rates of SAEs and AEs leading to discontinuation, with no clusters of events

– No deaths; no MACE or cytopenia signals; no TB reactivationb

〉 No clinically significant laboratory abnormalities were observed across lipid, hematologic and chemistry panels, with comparable

variability across treatment arms throughout the study

〉 At Week 24, low incidence of serious infections (0.7%) and malignancies (0.2%) observed in patients treated with envudeucitinib

Envudeucitinib is investigational; not yet reviewed by regulatory agencies

ONWARD1 & 2 met all primary and secondary endpoints

Maximal IL-23/IL-17 pathway inhibition clinically

demonstrated in psoriasis

Phase 3 data presentation at AAD

Additional long-term psoriasis data expected 2H 2026

Anticipated NDA filing Q4 2026

Phase 2b LUMUS SLE topline results expected Q3 2026

Designed as a potentially pivotal trial

Potential additional clinical benefit of maximal, oral

IFN pathway inhibition in SLE

2026 is Expected to be a Breakout Year for Envudeucitinib

Precision engineered oral TYK2i with differentiated profile

Setting the stage for strategic optionality

Psoriasis: Potential best-in-disease oral (Ph3 data)

Confirmed TYK2 viability as oral IL-23/IL-17 pathway inhibitor

SLE: Potential oral category leader

Evaluating TYK2 viability as Type I IFN pathway inhibitor

Envudeucitinib for Systemic Lupus

Erythematosus (SLE)

Highly efficacious oral therapy could transform treatment and outcomes

1. Current patient estimates from Tian J, Zhang D, Yao X, Huang Y, Lu Q, Global epidemiology of systemic lupus erythematosus: a comprehensive systematic analysis and modelling study. Ann Rheum

Dis. 2023 Mar; 82(3):351-356. doi: 10.1136/ard-2022-223035. Epub 2022 Oct 14. PMID: 36241363; PMCID: PMC9933169.

2. Evaluate Pharma as of January 2026.

3. Siegel CH; Sammaritano LR. Systemic Lupus Erythematosus: A Review. JAMA. 2024;331(17):1480–1491.

High Disease Burden and Unmet Need in SLE

Significant Systemic Lupus SLE disease burden

• Chronic autoimmune disease affecting ~3.4M people

worldwide; prevalence rising globally1

• Multi-organ involvement drives morbidity & reduced

quality of life

• Fatigue, pain, and flares disrupt daily life and

emotional well-being

Limited treatment options

• Current standard-of-care relies on non-specific

immunosuppressants, causing serious complications and

reduced life expectancy

• Two biologics dominate the market despite modest

efficacy; belimumab and anifrolumab represent the

majority of market share and are expected to exceed $3B

in combined sales in 20262

Heart

endocarditis

atherosclerosis

pericarditis

Mouth and

Nose Ulcers

Face / Skin

butterfly rash and red patches

Lungs

pleuritis

pneumonitis

pulmonary emboli

pulmonary hemorrhage

Kidneys

blood in the urine

Blood

anemia

high blood pressure

Muscle and Joints

pain and aches

arthritis

swollen joints

Other Symptoms

hair loss

fever

headache

abdominal pain

SLE disease burden3

Strong Clinical & Scientific Rationale to Unlock SLE Opportunity

Narayan N, Hoffman J, Langrish C, Ucpinar S, Corpuz P, Mittleman B, Tilley M. ESK-001, an Allosteric TYK2 Inhibitor, Maximally Suppresses Type 1 Interferon, a Therapeutic Pathway Central to SLE and

CLE. Arthritis Rheumatol. 2024; 76 (suppl 9).; Morand EF, Pike M, Merrill JT, et al. Deucravacitinib, a TYK2 inhibitor, in systemic lupus erythematosus: Phase II RCT. Arthritis & Rheumatology. 2023;75:242–

252; Hoi A, Igel T, Mok CC, Arnaud L. Systemic lupus erythematosus (Seminar). The Lancet. 2024; 403: 2326–2338.; Dendrou CA, Cortes A, Shipman L, et al. Resolving TYK2 locus genotype-to-phenotype

differences in autoimmunity. Science Translational Medicine. 2016; 8 (363): 363ra149.

Envudeucitinib oral therapy has potential to transform SLE therapy by targeting Type I IFN

TYPE I

IFN

Encouraging Ph 2 TYK2i proof of concept (deucravacitinib)

Genetic evidence: TYK2 LOF mutation (P1104A) confers protection against SLE

Envu Ph 2 PsO data shows robust inhibition of Type I IFN gene signature

Type I IFN is a key disease driver in SLE

Approved SLE therapy (anifrolumab) validates IFN pathway targeting

LUMUS Phase 2b Trial: Topline Results Expected Q3 2026

Designed for high probability of clinical success and speed to market

Lumus trial incorporates key learnings from past SLE trials

• Lumus trial requires stringent disease activity criteria

• Rigorous enrollment and outcome adjudication processes

• Real time data consistency checks

• Concomitant medications minimized; steroid taper incorporated

• Extensive and ongoing site training in endpoint assessments

Placebo

Envu 20 mg BID

Envu 40 mg BID

Envu 20 mg QD

» Primary Endpoint:

BICLA at Week 48

compared to placebo

» Includes LTE for long

term safety database

Envu 40 mg BID

Randomization

1:1:1:1

Baseline

Day 1

Primary EP

Week 48

Complete 28-Day f/up exit Part A

Part A

Phase 2 Trial

Part B

Long-term Extension (LTE) Trial

• Lumus trial fully enrolled (n=408)

• Lumus could enable potential accelerated

regulatory pathway with one additional

confirmatory Phase 3 trial

A-005: Phase 2 Ready

CNS-Penetrant Allosteric TYK2i

A-005, our CNS Penetrant TYK2 Inhibitor, has Potential to Add Substantial

Value to TYK2 Franchise

(1) Yacoubian, et al., Movement Disorders, 2023; Potashman, Parkinsonism & Related Disorders, 2025.

(2) Chen et al., Brain, Behavior, & Immunity – Health, 2025.

(3) ACTRIMS 2025: Graham, K. et al. A-005 astrocyte/microglia modulation (P352) & Sharma, R. et al. safety/PK in HV (P335). West Palm Beach, FL.

(4) ECTRIMS 2025: Ucpinar S et al. PK, PD & CNS penetration of A-005 in MS. Poster P299. Barcelona, Spain; Monroy-Jaramillo et al., Life, 2025; Zhang, Brain and Behavior, 2025.

• Broader tissue penetration to

address inflammation on both

sides of blood brain barrier

• Within the CNS compartment, A-005 modulates astrocytes and

microglia, key drivers of

neuroinflammation

• Initial development for Parkinson’s

disease; additional opportunities in

other neuroinflammation-driven

diseases and orphan peripheral

immune-mediated diseases

Broadening

TYK2i Opportunities

• Phase 2 biomarker trial in

Parkinson’s disease patients

planned 1H 2027

• A-005 achieved maximal target

inhibition in CNS and periphery in

Phase 1 healthy volunteers(4)

• Favorable safety and tolerability

profile demonstrated in Phase 1

TYK2i in Parkinson’s Disease Phase 2 Program

• Inflammation increasingly implicated

as driver of PD progression(1)

• IFN signature associated with worse

disease in PD patients(2)

• IL-17A causal for onset of PD in

human genetic analyses(3)

• A-005 offers opportunity to bring

maximal TYK2 inhibition of IL-17/23

and IFN pathways to the CNS

compartment

Phase 2 Program

A-005 Demonstrated Full CNS Penetration in Phase 1 Program

* Tmax was reported as median (range)

ECTRIMS 2025: Ucpinar S et al. PK, PD & CNS penetration of A-005 in MS. Poster P299. Barcelona, Spain.

Ability to cross blood-brain barrier and achieve high levels of exposure in cerebral spinal fluid (CSF)

Tmax*

(h)

Cmax

(ng/mL)

C9h

(ng/mL)

Plasma Total , mean (SD) 1.0 (0.75-3.0) 327 (0.6) 75 (16)

Plasma Free , mean (SD) 1.0 (0.75-3.0) 29 (0.1) 7 (1.4)

CSF Free , mean (SD) 2.0 (2.0-2.0) 34 (10.9) 9 (2.7)

Ratio (CSFfree/Plasmafree) NA 1.2 1.4

A-005 concentration in CSF above IC90 levels measured in microglia cells in vitro

CSF Cohort (120 mg QD)

PK Summary: CSF Cohort (120 mg QD)

Milestones

Key Achievements and Anticipated Milestones for 2026

1Q26

1H26

2Q26

3Q26

2H26

Q426

Envu – PsO Phase 3 Topline Data for 16- and 24-week Endpoints

Envu – PsO Phase 3 Additional Data Presented at AAD

Lonigutamab – Completion of Strategic Review

TYK2 Franchise Development Strategy (Envu and A-005) - Evaluation of Additional Indications

Envu – SLE Phase 2b Topline Data

Envu – PsO ONWARD3 Topline Data

Envu – PsO Phase 2 Two-Year Safety Data

Phase 1 trial Initiation – next clinical candidate (new target)

Envu – PsO NDA Filing

Neurology: $44B

Rheumatology: $38B

Gastroenterology: $41B

Dermatology: $49B

Other Indications: $9B

Parkinson's Disease

Alzheimer's Disease

Multiple Sclerosis

Systemic Lupus Erythematosus

Sjögren’s Disease

Psoriatic Arthritis

Sarcoidosis

Rheumatoid Arthritis

Juvenile Idiopathic Arthritis

Crohn’s Disease

Ulcerative Colitis

Celiac Disease

Plaque Psoriasis

Cutaneous Lupus Erythematosus

Vitiligo

Hidradenitis Suppurativa

Dermatomyositis

Generalized Pustular Psoriasis

Erythrodermic Psoriasis

Primary Biliary Cholangitis

Type 1 Diabetes

Indications supported by genomic evidence, clinical validation, or active studies

Two Pipeline-in-a-Pill Opportunities; $180B+ Potential Total Market Opportunity

2032 Market Projections; Source: Evaluate Pharma, January 2026.

$569.5m1

in cash, cash equivalents and

marketable securities as of

March 31, 2026

Cash runway expected into

Q4 2027

Company Financial

Summary

1. Unaudited and subject to change

Alumis Leadership

Martin Babler

President, CEO & Chairman

Mark Bradley

Chief Development Officer

Jack Danilkowicz

Chief Commercial Officer

Jörn Drappa, MD, PhD

Chief Medical Officer

David Goldstein, PhD

Chief Scientific Officer

Sanam Pangali

Chief Legal Officer

John Schroer

Chief Financial Officer

Roy Hardiman

Chief Business & Strategy Officer

Kolbot By, PhD

Head of Technical Operations

Claire Langrish, PhD

Head of Immunology &

Translational Science

Grace Halteh

Head of Quality and Regulatory

• Significant market opportunity (projected $180B+2

) across many indications with potential to

be addressed by TYK2 molecules. Envudeucitinib and A-005 provide two pipelines-in-a-pill

• Additional envudeucitinib indications: prioritizing Sjögren’s Disease and Cutaneous Lupus

Erythematosus (CLE)3

• Envudeucitinib delivered highly significant efficacy with leading PASI 100 responses and early and

robust improvements in skin clearance, quality of life, and symptoms

• Envudeucitinib Psoriasis: Additional data (2H 2026) and NDA filing (4Q 2026)

• Envudeucitinib SLE: Potentially pivotal Phase 2b SLE topline data (3Q 2026)

• A-005: Initiation of Phase 2 biomarker trial in Parkinson’s disease (1H 2027)

• Global opportunity for Psoriasis (~$40B) and Lupus (~$11B) expected by 20301

• High efficacy orals expected to drive market growth

• Envudeucitinib and A-005 are precision engineered for 24-hour maximal target inhibition

• Maximal inhibition translates to leading Phase 3 efficacy with balanced safety and tolerability

Alumis' Next-Gen TYK2 Inhibitors: Two Pipelines-in-a-Pill

Positive

Psoriasis Phase 3

Significant Near-term Value

Broad TYK2

Opportunity

Anticipated

Milestones

Differentiated

TYK2i's

1 and 2: 2030 market projections; Source: Evaluate Pharma, January 2026.

3 Advancement decisions will be guided by LUMUS readout and disciplined capital allocation.

Transforming Immune-Mediated

Disease Treatment with Precision

Engineered TYK2 Inhibitors

Corporate Deck: June 2026

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Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

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dei_EntityAddressStateOrProvince

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Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Balance Type:

Period Type:

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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dei_EntityEmergingGrowthCompany

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Balance Type:

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- Definition

Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 7A

-Section B

-Subsection 2

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Name:

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Period Type:

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

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Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

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Data Type:

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Period Type:

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

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Balance Type:

Period Type:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

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Data Type:

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Period Type:

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- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

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Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Namespace Prefix:

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Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Data Type:

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Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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