$ALMS

ALUMIS INC.

CIK:0001847367|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 1,662	$ 2,666	$ 3,403	$ 20,055
Operating expenses:
Research and development expenses, including related party expenses of $399, $259, $465 and $521 for the three and six months ended June 30, 2026 and 2025, respectively	85,337	108,755	166,877	205,377
General and administrative expenses	23,356	34,450	41,966	56,745
Intangible assets impairment loss	41,824		41,824
Total operating expenses	150,517	143,205	250,667	262,122
Loss from operations	(148,855)	(140,539)	(247,264)	(242,067)
Other income (expense):
Gain on bargain purchase		187,907		187,907
Interest income	4,948	3,430	10,297	6,039
Other income (expenses), net	(71)	(38)	(64)	(82)
Total other income (expense), net	4,877	191,299	10,233	193,864
Net income (loss) before income taxes	(143,978)	50,760	(237,031)	(48,203)
Income tax benefit	1,757	8,561	1,757	8,561
Net income (loss)	(142,221)	59,321	(235,274)	(39,642)
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities, net	(216)	30	(871)	(18)
Total comprehensive income (loss)	$ (142,437)	$ 59,351	$ (236,145)	$ (39,660)
Net income (loss) per share attributable to common stockholders, basic	$ (1.11)	$ 0.78	$ (1.86)	$ (0.61)
Net income (loss) per share attributable to common stockholders, diluted	$ (1.11)	$ 0.77	$ (1.86)	$ (0.61)
Weighted-average shares of common stock outstanding, basic	127,690,254	76,477,144	126,377,692	65,440,021
Weighted-average shares of common stock outstanding, diluted	127,690,254	76,635,895	126,377,692	65,440,021
License
Revenue:
Total revenue				$ 17,389
Collaboration
Revenue:
Total revenue	$ 1,662	$ 2,666	$ 3,403	$ 2,666

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (235,274)	$ (39,642)
Adjustments to reconcile net loss to net cash used in operating activities:
Intangible assets impairment loss	41,824
Stock-based compensation	26,612	25,630
Net accretion of discounts on marketable securities	(4,035)	(2,152)
Depreciation and amortization	1,745	1,713
Non-cash lease expense	1,091	624
Impairment of long-lived assets	444
Gain on bargain purchase in connection with the ACELYRIN Merger		(187,907)
Changes in operating assets and liabilities:
Research and development prepaid expenses	(1,479)	7,373
Other prepaid expenses and other assets	64	96
Other assets, non-current	4,392	(1,723)
Accounts payable	2,694	(1,162)
Research and development accrued expenses	791	11,037
Other accrued expenses and current liabilities	(5,933)	6,537
Deferred revenue	2,600	2,611
Operating lease liabilities	(2,322)	(1,349)
Other liabilities, non-current	(39)	168
Deferred tax liability	(1,757)	(8,561)
Net cash used in operating activities	(168,582)	(186,707)
Cash flows from investing activities
Maturities of marketable securities	251,466	144,274
Purchases of marketable securities	(468,058)	(24,535)
Purchases of property and equipment	(401)	(653)
Cash, cash equivalents and restricted cash acquired in connection with the ACELYRIN Merger		49,742
Net cash (used in) provided by investing activities	(216,993)	168,828
Cash flows from financing activities
Proceeds from public offering of common stock, net of underwriter discounts, commissions and offering costs	323,797
Proceeds from issuance of common stock upon exercise of stock options	34,249
Proceeds from issuance of common stock under the 2024 Employee Stock Purchase Plan	1,570	766
Repurchase of common stock issued upon early exercise of stock options		(17)
Net cash provided by financing activities	359,616	749
Net decrease in cash, cash equivalents and restricted cash	(25,959)	(17,130)
Cash, cash equivalents and restricted cash at beginning of period	91,053	170,632
Cash, cash equivalents and restricted cash at end of period	65,094	153,502
Supplemental disclosures:
Right-of-use assets obtained in exchange for operating lease liabilities	1,835	1,776
Stock options exercise proceeds receivable	724
Vesting of early exercised stock options and unvested restricted shares of common stock	52	410
Equity consideration transferred in connection with the ACELYRIN Merger		238,077
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	63,706	151,753
Restricted cash		367
Restricted cash, non-current	1,388	1,382
Total cash, cash equivalents and restricted cash	$ 65,094	$ 153,502

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 63,706	$ 89,670
Restricted cash		82
Marketable securities, current	438,587	218,831
Research and development prepaid expenses	4,388	2,909
Other prepaid expenses and current assets	7,403	6,740
Total current assets	514,084	318,232
Restricted cash, non-current	1,388	1,301
Property and equipment, net	16,847	18,190
Intangible assets	9,135	50,959
Operating lease right-of-use assets, net	17,270	16,971
Other assets, non-current	1,894	6,287
Total assets	560,618	411,940
Current liabilities:
Accounts payable	12,800	10,106
Research and development accrued expenses	35,572	34,781
Other accrued expenses and current liabilities	16,370	22,303
Deferred revenue, current	6,669	1,458
Operating lease liabilities, current	4,822	4,670
Total current liabilities	76,233	73,318
Operating lease liabilities, non-current	31,605	32,244
Deferred tax liability	383	2,140
Share repurchase liability	71	123
Deferred revenue, non-current		2,611
Other liabilities, non-current	168	207
Total liabilities	108,460	110,643
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.0001 par value; 50,000,000 shares authorized, zero shares issued and outstanding as of June 30, 2026 and December 31, 2025
Additional paid-in capital	1,589,979	1,202,975
Accumulated other comprehensive income (loss)	(683)	188
Accumulated deficit	(1,137,150)	(901,876)
Total stockholders' equity	452,158	301,297
Total liabilities and stockholders' equity	560,618	411,940
Voting common stock
Stockholders' equity:
Common Stock	$ 12	9
Non-voting common stock
Stockholders' equity:
Common Stock		$ 1