Alumis has secured USD 250 million in an initial public offering (PO) and concurrent private placement. The IPO involves the sale of ~13.1 million shares priced at USD 16.00 per share. The offering is expected to close on July 1. The concurrent private placement involves the sale of ~2.5 million shares at USD 16.00 per share to existing investor AyurMaya Capital Management Fund, expected to close after the closing of the initial public offering on or before July 22, 2024.

The combined proceeds will be used to conduct multiple Phase III trials on Alumis's leading asset, ESK-001, to treat moderate to severe plaque psoriasis.

Analyst QuickTake: In June 2024 , Alumis revealed its plan to raise ~USD 300 million from the IPO by issuing 17.65 million shares at a target price between USD 16 and USD 18 per share. Downsizing the offering, the company sold 13.1 million shares at the low end of the target price range. The IPO is one of the largest of the year within the biotech sector.