Alumis Q1 net loss $99M, revenue $17.4M; merger with ACELYRIN on track for Q2 2025 close

ALUMIS INC.

2025-Q1 EPS reported -$1.82 revenue$17,389,000

Net loss of $99M in Q1 2025 vs $49.8M in Q1 2024; revenue of $17.4M from Kaken license fee.
Cash and marketable securities $208.7M as of March 31, 2025; combined pro forma cash $737M with ACELYRIN.
Merger with ACELYRIN approved by Alumis stockholders; exchange ratio 0.4814; expected close in Q2 2025.
ESK-001 Phase 3 psoriasis topline data expected early Q1 2026; SLE Phase 2b data in 2026.
R&D expenses $96.6M (up 130% YoY) driven by Phase 3 ONWARD program acceleration.

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