Immune Disease-Focused Alumis Raises $250M In Downsized Initial Public Offering
Portfolio Pulse from Vandana Singh
Alumis Inc (NASDAQ:ALMS) raised $210 million in its downsized IPO, pricing shares at $16 each. The company also sold 2.5 million shares in a private placement. Alumis is developing therapies for immune-mediated diseases, with its lead candidate ESK-001 in Phase 2 trials for plaque psoriasis and systemic lupus erythematosus. Shares are expected to start trading on June 28, 2024.
June 28, 2024 | 5:36 pm
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Alumis Inc raised $210 million in its IPO, pricing shares at $16 each, the low end of the expected range. The company also sold 2.5 million shares in a private placement. Shares are expected to start trading on June 28, 2024.
The IPO was priced at the low end of the expected range, indicating potentially lower initial investor enthusiasm. However, the additional private placement and the upcoming trading date provide a neutral short-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100