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Status of Alumis' TYK2 inhibitor phase 3 trial by end of 2024?
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Alumis Prices Downsized IPO at $16 Per Share, Raises $250 Million, Valued at $902 Million
Jun 28, 2024, 04:50 AM
Alumis, an immunology biotech company, has announced the pricing of its initial public offering (IPO) at $16 per share, the low end of its marketed range of $16 to $18. The company initially planned to offer 17.65 million shares but downsized the offering to 13.125 million shares. The IPO raised $250 million, which is below its initial target of $300 million. The funds will be used to support the company's TYK2 inhibitor through phase 3 psoriasis trials and a late-stage psoriasis clinical trial. The IPO values Alumis at approximately $902 million, which is lower than the previously anticipated $1 billion valuation. The company also conducted a concurrent private placement. Notably, the IPO amount is slightly below its last VC round of $259 million. Alumis is now NasdaqListed.
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