BUZZ-Alumis jumps on licensing deal for skin drug

Reuters
25 Mar
BUZZ-Alumis jumps on licensing deal for skin drug

** Shares of biopharmaceutical firm Alumis ALMS.O rise 15.5% to $4.36, hitting over one-month high

** ALMS and Tokyo-based Kaken Pharmaceutical 4521.T say they have entered into a licensing agreement to develop, manufacture and commercialize an experimental skin drug in Japan

** ALMS' lead drug candidate, ESK-001, is currently in a late-stage study which aims to fix immune system issues in various diseases caused by inflammatory substances like IL-23, IL-17, and type 1 interferon

** ALMS will receive $40 million in upfront and near-term co-development payments in 2025 to 2026

** The company could earn up to $140 million more based on milestone achievements

** ESK-001 is also being tested in a mid-stage study to treat a type of autoimmune disease called systemic lupus erythematosus

** ALMS has fallen 44.4% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10