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ALMS News
ALMS Events
Alumis Announces New Envudeucitinib Data, Showing Potential for Psoriasis Treatment
Alumis announced new envudeucitinib data from the ONWARD Phase 3 clinical program-ONWARD1, ONWARD2, and the long-term extension ONWARD3. The results, presented at the 26th Annual Fall Clinical Dermatology Conference, reinforce the potential of envudeucitinib to become an oral therapy for patients with moderate-to-severe plaque psoriasis. Envudeucitinib is an investigational, next-generation oral TYK2 inhibitor precision-engineered for maximal 24-hour target inhibition. New data across key measures of disease burden build on envudeucitinib's high-threshold skin clearance across the ONWARD program, including a 54% Psoriasis Area and Severity Index, or PASI, 100 response rate at Week 48-the highest publicly reported among existing and investigational oral psoriasis therapies. The data demonstrated early and durable improvements across scalp disease severity, itch resolution, and quality of life measures. Over 80% of patients in ONWARD3 maintained clear or almost clear scalp skin at 48 weeks. In ONWARD 1/2, approximately one-third of patients-including those with moderate-to-severe scalp disease-achieved clinically meaningful itch reduction as early as Week 2. By Week 16, about 40% reached complete itch resolution and approximately 60% reported minimal or no itch. In ONWARD3, nearly 80% of patients sustained clinically meaningful itch reduction through Week 48. Approximately 50% of patients in ONWARD 1/2 achieved a Dermatology Life Quality Index, or DLQI, score of 0 or 1 by Week 12, reflecting minimal to no impact of psoriasis on daily activities. In ONWARD3, more than 70% of patients maintained DLQI 0/1 at 48 weeks. Patients switching from placebo or apremilast achieved rapid improvements across primary and key secondary endpoints, comparable to those continuously treated at Week 48. Treatment with envudeucitinib was generally well tolerated in the ONWARD program. No new safety signals were observed with long-term exposure in ONWARD3.
Major Averages Rebound, S&P 500 Up 0.46%
The major averages closed broadly higher, rebounding from yesterday's declines as investors continue to react to escalating tensions between the U.S. and Iran, rising oil prices, and a jump in Treasury yields. Renewed U.S.-Iran fighting has raised concerns about disruptions to energy supplies and pushed inflation expectations higher, creating a difficult backdrop for both stocks and bonds.Meanwhile, ADP showed 38,000 private-sector jobs were added in August, a slower-than-expected pace. While job creation held positive, August was the smallest gain since January.Additionally, the Federal Reserve said in its latest Beige Book report that economic activity has increased "modestly" since July, adding that employment rose "very slightly overall."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Dell Technologiesreportedand sharply raised its FY27 earnings per share and revenue outlookNvidiais in advanced talks to acquire Hugging Face for up to $14B,Chevronannouncedthat establish updated terms for its joint venturesDelivery Hero'sboard recommendsfrom UberThe Fed said in its latest Beige Book that2. WALL STREET CALLS:Deutsche Bank"mispriced" Sirius XMto BuyToastto Neutral at BNP ParibasAlumisto Buy at H.C. WainwrightJPMorganNioon sluggish vehicle demandAmrizeto Neutral at JPMorgan and to Underperform at BofA3. AROUND THE WEB:Uber Technologiesis cutting about 3,300 roles, or 10% of its staff globally, in a restructuring aimed at reducing management layers and reallocating spending into its ride-sharing, delivery and robotaxi businesses, Bloomberg reportsEU antitrust regulators are eyeing the licensing practices of Oraclein a case similar to the one involving SAP, which was settled with concessions in July, Reuters saysTSMChas increased its own estimate of quarterly equipment purchases to 1.9 times what was projected in December as the company expands production to meet AI demand, Bloomberg reportsTPG-backedAsia OneHealthcare has confidentially filed for an initial public offering in Kuala Lumpur, Malaysia, seeking to raise up to 10B ringgit, or $2.5B, Bloomberg saysAdobehas acquired India-based marketing intelligence company Rilo in an agreement involving licensing and team acquisition, TechCrunch reports4. MOVERS:GitLabgained after, raising its guidance for FY27, and saying AI is proving to be a durable secular tailwindEos Energyincreased after announcing aand GooglePG&Ewas lower after saying it plans to update its 2027 capital plan byCredo Technologyslipped in New York afterand providing guidance for Q1 and FY27Palo Alto Networksand MongoDBfell after5. EARNINGS/GUIDANCE:Ollie's Bargain Outletand raised its outlook for FY26G-III Apparel, with CEO Morris Goldfarb commenting, "Our second quarter results reflect strong execution across the organization"Sprinklrand lowered its guidance for FY27Daktronics, with EPS and revenue beating consensusBrown-Forman, with CEO Lawson Whiting stating that first quarter results "reinforce our confidence in the year ahead"INDEXES:The Dow rose 295.07, or 0.56%, to 53,061.95, the Nasdaq gained 118.06, or 0.45%, to 26,217.83, and the S&P 500 advanced 35.13, or 0.46%, to 7,666.60.
Alumis Stock Rises 10.7% to $10.48
Alumis is up 10.7%, or $1.01 to $10.48.
Major Averages Rebound, ADP Reports 38,000 Jobs Added
The major averages were broadly higher, rebounding a little from yesterday's declines as investors continue to react to escalating tensions between the U.S. and Iran, rising oil prices, and a jump in Treasury yields. Renewed U.S.-Iran fighting has raised concerns about disruptions to energy supplies and pushed inflation expectations higher, creating a difficult backdrop for both stocks and bonds.Meanwhile, ADP showed 38,000 private-sector jobs were added in August, a slower-than-expected pace. While job creation held positive, August was the smallest gain since January.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Dell Technologiesreportedand sharply raised its FY27 earnings per share and revenue outlookNvidiais in advanced talks to acquire Hugging Face for up to $14B,Chevronannouncedthat establish updated terms for its joint venturesAs part of a strategic review, PG&Eplans to update its 2027 capital plan byVertivUtility Innovation for $1.45B in cash2. WALL STREET CALLS:Deutsche Bank"mispriced" Sirius XMto BuyToastto Neutral at BNP ParibasAlumisto Buy at H.C. WainwrightJPMorganNioon sluggish vehicle demandAmrizeto Neutral at JPMorgan and to Underperform at BofA3. AROUND THE WEB:Uber Technologiesis cutting about 3,300 roles, or 10% of its staff globally, in a restructuring aimed at reducing management layers and reallocating spending into its ride-sharing, delivery and robotaxi businesses, Bloomberg reportsEU antitrust regulators are eyeing the licensing practices of Oraclein a case similar to the one involving SAP, which was settled with concessions in July, Reuters saysTSMChas increased its own estimate of quarterly equipment purchases to 1.9 times what was projected in December as the company expands production to meet AI demand, Bloomberg reportsTPG-backedAsia OneHealthcare has confidentially filed for an initial public offering in Kuala Lumpur, Malaysia, seeking to raise up to 10B ringgit, or $2.5B, Bloomberg saysAdobehas acquired India-based marketing intelligence company Rilo in an agreement involving licensing and team acquisition, TechCrunch reports4. MOVERS:GitLabgains after, raising its guidance for FY27, and saying AI is proving to be a durable secular tailwindEos Energyincreases afterwith MN8 Energy and GoogleAST SpaceMobilehigher after Berenbergof the stock with a Buy ratingCredo Technologylower in New York afterand providing guidance for Q1 and FY27Palo Alto Networksand MongoDBfall after5. EARNINGS/GUIDANCE:Ollie's Bargain Outletand raised its outlook for FY26G-III Apparel, with CEO Morris Goldfarb commenting, "Our second quarter results reflect strong execution across the organization"Sprinklrand lowered its guidance for FY27Daktronicswith EPS and revenue beating consensusBrown-Forman, with CEO Lawson Whiting stating that first quarter results "reinforce our confidence in the year ahead"INDEXES:Near midday, the Dow was up 244.25, or 0.46%, to 53,011.13, the Nasdaq was up 104.55, or 0.40%, to 26,204.32, and the S&P 500 was up 37.39, or 0.49%, to 7,668.86.
Major U.S. Indices Drop Sharply Amid U.S.-Iran Tensions
The major averages closed sharply lower to kick off September amid increasing tensions between the U.S. and Iran. Inflation concerns and surging oil prices lifted bond yields in the U.S. and elsewhere as worries continue to mount over whether the Federal Reserve will tighten monetary policy later this month.U.S. Central Command announced that U.S. forces began striking Islamic Revolutionary Guard Corps targets in Iran. President Trump said the attacks came in retaliation for Iran attempting to place more sea mines in the Strait of Hormuz. The move marks the second set of U.S. airstrikes on Iran in three days. Oil prices, which had already been trending higher given the elevated tensions, surged over 5% after the news.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Medtronicreported, narrowed its FY27 earnings guide, and announced a $700M investment in Cornerstone RoboticsFervo Energyannounced awith GoogleJohn Ternus has officiallyof Apple, taking the reigns from Tim Cook, who will remain as executive chairAnthropic has entered into a $35B cloud compute deal with Nvidia-backedLambda,Meanwhile, Anthropic introduced2. WALL STREET CALLS:Robinhoodto Overweight at Morgan Stanley on improved growth outlookMyriad Geneticsto Underweight from Overweight at Piper SandlerEvercoreDuolingoto Outperform on product improvementsBofAEdison Internationaland PG&Eto Neutral with California wildfire reform delayedRosenblattUberat Buy, Lyftat Neutral3. AROUND THE WEB:Teslareported mixed sales results in August across Europe, Reuters saysS&P Globalis considering spinning out Capital IQ Pro, Bloomberg reportsNovartishas paused eight clinical trials of rap-cel, an experimental cell therapy targeting autoimmune and neurological disorders, after three patients died, Reuters reportsChevronis finalizing a deal for the operating rights to two oilfields in Venezuela's Orinoco Belt that hold billions of barrels of heavy oil reserves, Bloomberg saysStellantisis halting production at its Mirafiori plant in Turin due to shortages of engine components following stronger-than-expected demand for hybrid vehicles, Reuters reports4. MOVERS:Comstock Resourcesgained afterwith the State Oil Company of the Azerbaijan Republic and a $450M joint venture with Jerry JonesCapricor Therapeuticsincreased after Piper Sandlerthe stock to OverweightKohl'sslid after naming Ryan Waymire asAlumiswas lower after reporting its LUMUS trialand secondary endpointsEos Energyfell after filing to5. EARNINGS/GUIDANCE:Nioand provided guidance for Q3MiniMed, with EPS missing consensusYext, with EPS higher year-over-yearRegis, with CEO Susan Lintonsmith commenting on "a year of continued progress toward strengthening the foundation of our business"Broadcomtoon September 2INDEXES:The Dow fell 419.02, or 0.79%, to 52,766.88, the Nasdaq lost 271.12, or 1.03%, to 26,099.77, and the S&P 500 declined 54.67, or 0.71%, to 7,631.47.
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