Alumis, Acelyrin to merge in all-stock transaction

Alumis (ALMS) and Acelyrin (SLRN) announced a definitive merger agreement under which Alumis and Acelyrin will merge in an all-stock transaction. Alumis and Acelyrin had cash, cash equivalents and marketable securities of approximately $289M and approximately $448M, respectively, on a preliminary basis, as of December 31, 2024. With a pro forma cash position of approximately $737M as of December 31, 2024, and continued operating discipline, Alumis expects that this cash position provides runway to advance the combined company’s pipeline through multiple planned key data readouts across several clinical trials and to fund operating expenses and capital expenditure requirements into 2027. Under the terms of the agreement, Acelyrin stockholders will receive 0.4274 shares of Alumis common stock for each share of Acelyrin common stock owned. Upon the close of the transaction, Alumis stockholders will own approximately 55% of the combined company and Acelyrin stockholders will own approximately 45% of the combined company, on a fully diluted basis. The transaction was unanimously recommended and approved by the disinterested directors of each company’s board.