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| Part I | Financial Information | |
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| Item 1. | Financial Statements (Unaudited) | 5 |
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| | Condensed Consolidated Balance Sheets | 5 |
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| | Condensed Consolidated Statements of Operations and Comprehensive Loss | 6 |
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| | Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) | 7 |
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| | Condensed Consolidated Statements of Cash Flows | 9 |
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| | Notes to Condensed Consolidated Financial Statements | 10 |
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| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 41 |
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| Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 59 |
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| Item 4. | Controls and Procedures | 60 |
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| Part II | Other Information | |
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| Item 1. | Legal Proceedings | 61 |
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| Item 1A. | Risk Factors | 61 |
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| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 126 |
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| Item 3. | Defaults Upon Senior Securities | 127 |
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| Item 4. | Mine Safety Disclosures | 127 |
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| Item 5. | Other Information | 127 |
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| Item 6. | Exhibits | 127 |
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| Signatures | | 129 |
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In this Quarterly Report on Form 10-Q, unless otherwise stated or as the context otherwise requires, references to “Alumis,” “the Company,” “we,” “us,” “our” and similar references refer to Alumis Inc.
This Quarterly Report on Form 10-Q also contains registered marks, trademarks and trade names of other companies. All other trademarks, registered marks and trade names appearing in this report are the property of their respective holders. We do not intend our use or display of other companies’ trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by, these other companies.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. All statements, other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our future financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.
These forward-looking statements involve risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Quarterly Report on Form 10-Q, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements in this Quarterly Report on Form 10-Q include, but are not limited to, statements about:
| ● | our expectations regarding the potential benefits of our strategy, including with respect to the integration of operations, technologies and personnel associated with the ACELYRIN Merger (as defined below); |
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| ● | our plans relating to the research and development of our product candidates; |
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| ● | developments related to our competitors and our industry, including the success of competing product candidates and therapies that are, or may become, available; |
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| ● | details regarding our strategic vision and planned product candidate pipeline; |
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| ● | our beliefs regarding the success, cost and timing of our product candidate development activities and current and future clinical trials and studies, including study design; |
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| ● | the timing or likelihood of regulatory filings or other actions and related regulatory authority responses; |
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| ● | the ability and willingness of various third parties to engage in research and development activities involving our product candidates, and our ability to leverage those activities; |
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| ● | our expectations regarding the potential benefits from any existing or future license or collaboration agreements, including the receipt of potential co-development, milestone and royalty payments |
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| ● | our expectations regarding the ease of administration associated with our product candidates; |
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| ● | our expectations regarding the patient compatibility associated with our product candidates; |
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| ● | our beliefs regarding the potential markets for our product candidates and our ability to serve those markets; |
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| ● | our beliefs regarding the potential of our product candidates to demonstrate differentiation from other approved therapies or therapies in development; |
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| ● | the ability to obtain and, if approved, maintain regulatory approval of any of our product candidates, and any related restrictions, limitations and/or warnings in the label of any approved product candidate; |
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| ● | our ability to commercialize any approved products; |
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| ● | the rate and degree of market acceptance of any approved products; |
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| ● | our ability to attract and retain key personnel; |
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| ● | the accuracy of our estimates regarding our future revenue, as well as our future operating expenses, capital requirements and needs for additional financing; |
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| ● | our ability to obtain funding for our operations, including funding necessary to complete further development and any commercialization of our product candidates; |
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| ● | our ability to obtain, maintain, protect and enforce intellectual property protection for our product candidates and technology and not infringe, misappropriate or otherwise violate the intellectual property of others; |
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| ● | regulatory developments in the United States and foreign countries; |
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| ● | our expectations regarding the period during which we qualify as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), and a “smaller reporting company,” as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”); and |
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| ● | statements of belief and any statement of assumptions underlying any of the foregoing. |
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You should refer to the section titled “Risk Factors” in Part II, Item 1A. of this Quarterly Report on Form 10-Q for a discussion of other important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. As a result of these factors, we cannot assure you that the forward-looking statements in this Quarterly Report on Form 10-Q will prove to be accurate.
In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Quarterly Report on Form 10-Q, and although we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted a thorough inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.
Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
