Why Is ALMS Stock Rising Today?

Alumis announced positive results from both of its Phase 3 clinical trials of envudeucitinib.

• The company said that envudeucitinib met all the primary and secondary endpoints in both trials.
• Across both trials, the company said that 74% of the patients achieved PASI 75, while 59% of them achieved sPGA 0/1 at Week 16.
• At week 24, more than 40% of participants achieved PASI 100, meaning they had 100% improvement and their skin had cleared completely.

Alumis Inc. (ALMS) shares gained more than 144% in Tuesday’s pre-market session after the company announced the results of a Phase 3 trial of its psoriasis treatment.

Alumis announced positive results from both of its Phase 3 clinical trials of envudeucitinib, a highly selective oral tyrosine kinase 2 (TYK2) inhibitor, in patients with moderate-to-severe plaque psoriasis.

The company said that envudeucitinib met all the primary and secondary endpoints in both trials.

The Trials

Alumis noted that envudeucitinib achieved superior skin clearance when compared to the placebo. Across both trials, the company said that 74% of the patients achieved Psoriasis Area and Severity Index (PASI) 75, while 59% of them achieved static Physician’s Global Assessment (sPGA) 0/1 at Week 16.

PASI 75 is a benchmark used to determine meaningful clinical response. It refers to a patient who has at least a 75% improvement in psoriasis severity.

sPGA is a five-point assessment scale that is used to measure the overall severity of psoriasis. An sPGA score of 0 refers to clear skin, while an sPGA 1 refers to almost clear skin.

At week 24, the company said that more than 40% of the participants achieved PASI 100, which means they had 100% improvement and their skin had cleared completely.

How Did Stocktwits Users React?

Retail sentiment on Stocktwits around Alumis soared on Tuesday, trending in the ‘extremely bullish’ territory after being in the ‘bearish’ zone a day ago. Message volumes also surged, rising to ‘extremely high’ levels from ‘low’ levels a day ago.

One Stocktwits user stated that now is a good time to buy the stock following the announcement of the trial results.

Another user thinks ALMS is a good stock with a good balance sheet.

ALMS stock is down 15% year-to-date and 2% over the past 12 months.

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