Alumis Unveils Positive Phase 3 Data for Psoriasis Drug

Alumis Inc. ( (ALMS) ) just unveiled an announcement.

On January 6, 2026, Alumis reported positive topline Phase 3 results from its ONWARD1 and ONWARD2 trials of envudeucitinib, a highly selective oral TYK2 inhibitor, in more than 1,700 adults with moderate-to-severe plaque psoriasis, showing the drug met all primary and secondary endpoints with high statistical significance versus placebo and delivered superior skin clearance compared with both placebo and apremilast, including roughly 65% of patients reaching PASI 90 and over 40% achieving PASI 100 at Week 24, alongside rapid onset of effect, meaningful improvements in itch and quality of life, and a generally favorable safety and tolerability profile consistent with earlier studies. The strong efficacy and safety data position envudeucitinib as a potential best-in-class next-generation oral therapy that could narrow the historical performance gap between oral and biologic psoriasis treatments, reinforcing Alumis’s competitive standing in the TYK2 space and supporting its strategy to build a broader “pipeline-in-a-pill” across IL-23/IL-17- and Type I interferon–driven diseases, with longer-term durability data to come from the ONWARD3 extension and additional readouts expected from the LUMUS Phase 2b lupus program in 2026.

The most recent analyst rating on (ALMS) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Alumis Inc. stock, see the ALMS Stock Forecast page.

Spark’s Take on ALMS Stock

According to Spark, TipRanks’ AI Analyst, ALMS is a Neutral.

The score is primarily weighed down by very large operating losses and heavy ongoing cash burn, which imply continued funding needs despite improving revenue. Technicals are mixed (longer-term improvement but near-term weakness), valuation is limited by unprofitability and no dividend, and a recent negative legal dispute adds incremental risk.

To see Spark’s full report on ALMS stock, click here.

More about Alumis Inc.

Alumis Inc. is a late-stage biopharmaceutical company focused on developing next-generation targeted therapies for immune-mediated diseases. Its pipeline centers on oral tyrosine kinase 2 (TYK2) inhibitors, including lead candidate envudeucitinib for systemic immune-mediated disorders such as moderate-to-severe plaque psoriasis and systemic lupus erythematosus, and A-005 for neuroinflammatory and neurodegenerative diseases, alongside lonigutamab for thyroid eye disease and several preclinical programs identified through a proprietary data analytics and precision medicine platform.

Average Trading Volume: 1,031,993

Technical Sentiment Signal: Buy

Current Market Cap: $867.5M

For detailed information about ALMS stock, go to TipRanks’ Stock Analysis page.