Alumis eyes IPO of over $300M to fund clinical-stage TYK2 pipeline

Alumis is eyeing up potential proceeds of over $300 million that the biotech will use to fund its TYK2 inhibitor through phase 3 psoriasis trials.

The California-based company announced earlier this month that it planned to use part of its IPO haul to advance the development of its lead asset, an allosteric tyrosine kinase 2 (TYK2) inhibitor called ESK-001, into multiple phase 3 trials in moderate to severe plaque psoriasis later this year.