Clinical DevelopmentALMS remains on track to report topline data from the Phase 3 ONWARD program of lead asset envudeucitinib in plaque psoriasis, in line with prior guidance.
Financial PerformanceThe bottom line swung to net income of $59.3M in 2Q25 from a net loss of $99.0M in 1Q25, driven by a $187.9M bargain-purchase gain on the ACELYRIN merger.
Market PotentialEnvudeucitinib approaches pivotal psoriasis data with best-in-class TYK2 efficacy and strong oral market potential.