Alumis Shares Plunge After Lupus Trial Failure

The company attributed the lackluster results to an unexpected imbalance in the patient population. Participants with high interferon gene signatures—a biomarker typically associated with a stronger response to this class of therapy—were under-represented in the trial. While this skewed the overall data, Alumis noted that the specific subgroup of patients possessing these biomarkers demonstrated robust clinical responses to the drug.

Despite the primary failure, management intends to pursue a Phase 3 trial following discussions with regulators, citing the drug's favorable safety profile and the specific efficacy observed in high-interferon patients. Alumis is moving ahead with its separate development timeline, aiming to submit a new drug application for envudeucitinib in moderate-to-severe plaque psoriasis by the fourth quarter of this year.