Climb Bio Challenges Alumis Milestone and Royalty Obligations

Climb Bio ( (CLYM) ) just unveiled an announcement.

On December 31, 2025, Climb Bio, Inc. filed a complaint in Delaware Superior Court against Alumis Inc. and its wholly owned subsidiary Acelyrin, Inc., seeking a declaratory judgment over payment obligations tied to a January 11, 2024 Asset Purchase Agreement under which Climb’s subsidiary Tenet Medicines acquired budoprutug-related assets from Acelyrin. Climb contends that no “Royalty-Bearing Patents” were ever transferred or filed within the defined period under the agreement, meaning its budoprutug program does not meet the contract’s definition of a “Product” and therefore does not trigger milestone payments, including a $3 million milestone Alumis has invoiced for January 1, 2026 following Climb’s first Phase 2 patient dosing on November 17, 2025. The lawsuit underscores a significant contractual and financial dispute that could determine whether Climb owes up to roughly $100 million in additional earn-outs for a drug it says it is advancing without any patent protection contributed by Alumis or Acelyrin, with implications for Climb’s future cash commitments and for how similar biotech asset purchase structures are interpreted when key intellectual property is absent.

The most recent analyst rating on (CLYM) stock is a Hold with a $4.50 price target. To see the full list of analyst forecasts on Climb Bio stock, see the CLYM Stock Forecast page.

Spark’s Take on CLYM Stock

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

The score is held back primarily by weak financial performance (no revenue, large losses, and significantly worse TTM cash burn), partially offset by a strong technical uptrend and supportive corporate events around clinical data. Valuation remains constrained by negative earnings and no dividend yield.

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

More about Climb Bio

Climb Bio, Inc. is a Massachusetts-headquartered, Delaware-incorporated clinical-stage biotechnology company focused on developing high-impact, disease-modifying immune medicines for individuals living with immune-related and immune-mediated diseases, particularly patients with limited treatment options. Its pipeline includes budoprutug, a clinical-stage anti-CD19 monoclonal antibody being developed to treat B-cell mediated diseases.

Average Trading Volume: 1,304,307

Technical Sentiment Signal: Buy

Current Market Cap: $302.7M

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