Alumis

ALMS

Biotechnology · Healthcare

Price

$28.66

+1.43 (+5.25%)

Market Cap

$3.54B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+11240.9% over 3y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 7.5M (2022) → 850.3M (2025)

Alumis Inc., a clinical stage biopharmaceutical company, focuses on the development and commercialization of medicines for autoimmune disorders. It develops ESK-001, an allosteric tyrosine kinase 2 (TYK2) inhibitor for the treatment of plaque psoriasis, systemic lupus erythematosus, and non-infectious uveitis; and A-005, a central nervous system-penetrant allosteric TYK2 inhibitor for neuroinflammatory and neurodegenerative diseases. The company was formerly known as Esker Therapeutics, Inc. and

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-90.0% YoY

Revenue declining

EPS Growth

+59.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$386M/ year

↑ Rising (+45% vs prior year)

>1,000% of revenue

89.2x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

30.5%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~2 months

$64M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Heavy R&D investment

Alumis is putting 1605% of revenue into R&D and that number is rising. That's 89.2x the sector average.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

50.0%

Healthy — 50.0% gross margin

Operating Margin

-5652.4%

Losing money on operations — -5652.4%

ROCE

-16.3%

Weak — -16.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-51.7%

Shrinking sales (-51.7% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-4487.4%

Burning cash (-4487.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.06

Conservative — low debt load (0.06)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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