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Alumis TYK2 Pill Hits Phase 3 Goals in Psoriasis as Stock Jumps and $175 Million Offering Is Planned

The company moves to raise $175 million following the readout, signaling plans for an FDA filing in the second half of 2026.

Overview

  • Envudeucitinib met all primary and secondary endpoints in the ONWARD1 and ONWARD2 Phase 3 trials for moderate-to-severe plaque psoriasis.
  • Across the studies, 74% achieved PASI75 and 59% reached sPGA 0/1 at four months, with about 65% hitting PASI90 and more than 40% achieving PASI100 by Week 24.
  • Responses emerged quickly, with clear separation from placebo on PASI90 by Week 4, and patient-reported outcomes improved on itch and quality of life.
  • Treatment was generally well tolerated through 24 weeks, with mostly mild to moderate adverse events such as headache, congestion, respiratory infections and acne.
  • Envudeucitinib outperformed apremilast (Otezla) on all PASI endpoints at Week 24, analysts described the profile as potentially class-leading, shares more than doubled, and Alumis plans to present full results at a medical meeting plus report Phase 2b lupus topline in Q3 2026.