“The changes in operating assets and liabilities included a decrease of $5.9 million in other accrued expenses and current liabilities, a decrease of $2.3 million in operating lease liabilities, a decrease of $1.8 million in deferred tax liability and an incre…”10-Q · Aug 13, 2026 ↗
Alumis Inc.
ALMS
Market read
Alumis Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 37 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- ONWARD1 and ONWARD2 enrollment and topline reporting reduced clinical-trial costs, while ONWARD3 spending increased.
- R&D spending fell as ONWARD1 and ONWARD2 completed enrollment and reported topline results, while ONWARD3 and regulatory work continued.
Invalidation: The isolated read changes if ALMS's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 37 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- ONWARD1 and ONWARD2 enrollment and topline reporting reduced clinical-trial costs, while ONWARD3 spending increased.
- R&D spending fell as ONWARD1 and ONWARD2 completed enrollment and reported topline results, while ONWARD3 and regulatory work continued.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Restructuring and cost reductions has repeated favorable evidence across 5 filings.
No qualifying adverse evidence was identified; that is not proof there is no downside.
- EV/sales is 84% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
9.90Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Non-cash items included $41.8 million related to intangible assets impairment loss, $26.6 million related to stock-based compensation expense, $1.7 million related to depreciation and amortization, $1.1 million related to non-cash lease 50 Table of Contents e…”10-Q · Aug 13, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 35.0× · EV/sales 31.3×. Comparisons use only industry-matched filing peers.
Fewer than 4 annual revenue periods; too little history to scaffold scenarios.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for ALMS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for ALMS. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind ALMS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
PTGXProtagonist Therapeutics, Inc.competitorFeb 25, 2026 ▾
“Second-generation allosteric TYK2 inhibitors include zasocitinib (TAK-279, Takeda) and envudeucitinib (ESK-001, Alumis), which both reported positive Phase 3 results in late 2025 and early 2026, and are moving toward regulatory submissions for psoriasis and P…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
ALMS is currently a Follower in the organic co-movement group Biotechnology. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for ALMS; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.