“We are building a pipeline of molecules with the potential to address a broad range of immune-mediated diseases as monotherapy or combination therapies,” Alumis stated in its registration statement to the U.S. Securities and Exchange Commission.
Recent Funding and Financial Status
Alumis’ planned IPO comes more than three months after it secured $259 million in a Series C venture funding round. This round was led by Foresite Capital and included new investors Samsara BioCapital and venBio Partners. Other investors include AyurMaya Capital Management Fund LP and Baker Brothers Life Sciences LP. As of now, Alumis has yet to generate recurring revenue since its drugs under development have not gained regulatory approval.
Alumis Aims For $300M IPO : Competitive Market
Alumis is going public during an expectedly busy week in which up to four more companies could tap the IPO market. Leading the pack are oil land acquirer LandBridge Co. LLC and web-based comics platform Webtoon Entertainment Inc., both prepping offerings of nearly $300 million each. Australian-listed natural gas producer Tamboran Resources Corp. is also priming an estimated $166 million IPO, while cancer-focused biotechnology company Actuate Therapeutics Inc. has an estimated $50 million IPO on file that could hit markets soon.
Trading and Underwriting Details
Alumis shares are slated to trade on the Nasdaq exchange under the symbol “ALMS.” Morgan Stanley & Co. LLC, Leerink Partners LLC, Cantor Fitzgerald & Co., and Guggenheim Securities LLC are underwriting Alumis’ IPO.
