Alumis Inc
ALMSHealthcare|Biotechnology|USA
$28.32
-1.96 (-6.48%)
Tangible Book
$4.06
Financials
Financial Snapshot
Market Cap
$3.61B
Enterprise Value
$487.3M
Revenue (TTM)
$8.4M
Net Income (TTM)
$-237.4M
Cash & Equivalents
—
Net Cash/Share
$3.29
Free Cash Flow (TTM)
$-377.0M
Operating CF (TTM)
$-376.3M
Debt/Equity
0.06
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$94.1M
Monthly Burn
$31.4M
Est. Runway
—
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Cash & Investments | $92.9M | $49.0M | $288.3M | $308.5M | $522.9M | |
| Operating Cash Flow | $-107.7M | $-130.0M | $-255.1M | $-369.5M | $-376.3M | |
| Free Cash Flow | $-110.1M | $-134.5M | $-256.8M | $-370.2M | $-377.0M | |
| Capital Expenditure | $-2.4M | $-4.5M | $-1.7M | $-653.0K | $-780.0K | |
| Financing Cash Flow | $101.6M | $89.7M | $492.4M | $2.1M | $349.1M |
R&D Spending
R&D (TTM)
$370.9M
R&D Intensity
4414.6%
R&D Growth YoY
-3.9%
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $24.1M | $8.4M | |
| R&D Expense | $101.3M | $137.7M | $265.6M | $386.0M | $370.9M | |
| R&D % of Revenue | — | — | — | 1605.0% | 4414.6% | |
| SG&A | $12.5M | $20.5M | $35.2M | $91.9M | $88.2M |
Income Statement
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $24.1M | $8.4M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $24.1M | $8.4M | |
| R&D | $101.3M | $137.7M | $265.6M | $386.0M | $370.9M | |
| SG&A | $12.5M | $20.5M | $35.2M | $91.9M | $88.2M | |
| Operating Income | $-113.8M | $-158.2M | $-300.8M | $-453.8M | $-450.7M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-111.9M | $-155.0M | $-294.2M | $-251.9M | $-246.0M | |
| Net Income | $-111.9M | $-155.0M | $-294.2M | $-243.3M | $-237.4M | |
| EPS (Diluted) | -2.91 | -2.99 | -10.38 | -2.86 | -1.96 | |
| EBITDA | $-113.6M | $-156.9M | $-297.6M | $-450.3M | $-447.2M | |
| Shares Out. (M) | 38.41 | 51.84 | 28.34 | 85.03 | 125.05 |
Balance Sheet
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $25.6M | $46.0M | $169.5M | $89.7M | $63.9M | |
| Marketable Securities | $67.3M | $3.0M | $118.7M | $218.8M | $459.1M | |
| Total Current Assets | $102.6M | $53.4M | $306.2M | $318.2M | $532.4M | |
| Total Assets | $108.2M | $89.6M | $341.0M | $411.9M | $671.6M | |
| Total Current Liabilities | $13.4M | $20.9M | $50.9M | $73.3M | $70.9M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $303.4M | $428.9M | $80.9M | $110.6M | $104.6M | |
| Stockholders' Equity | $-195.2M | $-339.3M | $260.1M | $301.3M | $567.0M | |
| Retained Earnings | $-209.3M | $-364.3M | $-658.6M | $-901.9M | $-994.9M |
Cash Flow Statement
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $-107.7M | $-130.0M | $-255.1M | $-369.5M | $-376.3M | |
| Capital Expenditure | $-2.4M | $-4.5M | $-1.7M | $-653.0K | $-780.0K | |
| Free Cash Flow | $-110.1M | $-134.5M | $-256.8M | $-370.2M | $-377.0M | |
| Investing Cash Flow | $-68.8M | $60.5M | $-113.8M | $287.9M | $-37.2M | |
| Financing Cash Flow | $101.6M | $89.7M | $492.4M | $2.1M | $349.1M | |
| Issuance of Stock | $0.00 | $0.00 | $193.3M | $0.00 | $323.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $6.0M | $8.6M | $19.5M | $43.5M | $48.9M | |
| Net Change in Cash | $-74.8M | $20.2M | $123.5M | $-79.6M | $-64.4M |
Dilution Tracker
Shares outstanding grew 225.6% over 5 years — significant dilution
Shares Outstanding
125M
5-Year Share Growth
+225.6%
Stock Issuance (TTM)
$323.8M
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Shares Out. (M) | 38.41 | 51.84 | 28.34 | 85.03 | 125.05 | |
| YoY Change % | — | 35.0% | -45.3% | 200.0% | 47.1% | |
| Stock Issuance | $0.00 | $0.00 | $193.3M | $0.00 | $323.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $6.0M | $8.6M | $19.5M | $43.5M | $48.9M |
Margins & Profitability
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | -1886.9% | -5364.0% | |
| Net Margin % | 0.0% | 0.0% | 0.0% | -1011.7% | -2825.7% | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | -1872.4% | -5322.1% | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | -1539.2% | -4487.4% | |
| ROE % | 0.0% | 0.0% | 0.0% | -86.7% | -62.3% | |
| ROA % | -103.5% | -156.7% | -136.7% | -64.6% | -48.6% | |
| R&D / Revenue | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S325.52
Historical8.94 / 20.45 / 325.52
Industry Med.9.49
P/B6.35
Historical0.71 / 2.09 / 10.32
Industry Med.2.93
EV/EBITDA-6.98
Historical-6.98 / -1.01 / 0.44
Industry Med.13.02
EV/Revenue371.73
Historical-9.62 / 20.73 / 371.73
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$4.06
Net Current Assets
$3.360
Net-Net Working Capital
$3.29
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | 34.49 | 325.52 | |
| PB Ratio | 0.00 | 0.00 | 1.64 | 3.39 | 6.35 | |
| EV/EBITDA | 0.00 | 0.00 | -0.57 | -1.67 | -6.98 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 31.20 | 371.73 |
Analyst Estimates & Quality
Altman Z-Score
18.27
Safe
Piotroski F-Score
3
Weak
Beneish M-Score
12.94
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $8.44M | $23.48M | $164.88M |
| Net Income | $-371.27M | $-377.46M | $-277.75M |
| EPS | -2.83 | -2.62 | -1.88 |
| Book Value per Share | 1.18 | 0.39 | 0.78 |
| Operating Cash Flow per Share | 0.00 | 0.00 | 0.00 |
| Operating CF | $0.00M | $0.00M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Business of researching and developing medicines for autoimmune disorders | $24.1M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $24.1M |