Alumis Inc Envudeucitinib ONWARD Phase 3 Plaque Psoriasis Trial Results Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Eric Schmidt - Cantor Fitzgerald LP - Analyst : Well thanks and congrats to Luma's team. On some game changing data. Martin, you might be limited in what you can say here, but Deatta did provide us with PSI 90 and 100 data at week 16 on Zazo. Can you give us a sense of how you stack up versus their results?

Question: Eric Schmidt - Cantor Fitzgerald LP - Analyst : Yes, the data was, statistically significant and of a magnitude that has traditionally been used by the FDA to include, itch reduction in the label.

Question: Terence Flynn - Morgan Stanley & Co Ltd - Analyst : Hi, good morning, thanks for taking the questions. I'm just wondering if you can elaborate in terms of the NDA filing, what's specifically gating there, and then in terms of any interactions you've had with the FDA personnel, if those personnel have generally been consistent, or, post the end of phase two meetings through now, and then, also wondering if you can provide us with the, discontinuation rate due to adverse events, thanks so much.

Question: Thomas Smith - Leerink Partners LLC - Analyst : Hey guys, good morning. Thanks for taking the questions and congrats on the really stellar data here. Maybe first on efficacy. I know you're saving a lot of the details here for presentation and an upcoming medical meeting, but I was wondering if you could, expand a bit on some of the comments with respect to the kinetics of response and the shape of the response curves. Are you seeing any plateauing at week 24, or can you speculate about where you think, these passing 90, 100 response rates could go with longer treatment? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. JANUARY 06, 2026 / 1:00PM, ALMS.OQ - Alumis Inc Envudeucitinib ONWARD Phase 3 Plaque Psoriasis Trial Results

Question: Thomas Smith - Leerink Partners LLC - Analyst : Understood. And I just asked about Lupus and and just wondering how these data impact your confidence on the SLE opportunity and your expectations for the phase 2B data that we're going to see here in Q3. Thanks so much.

Question: Thomas Smith - Leerink Partners LLC - Analyst : Helpful, thanks so much guys. Congrats again on the data.

Question: Derek Archila - Wells Fargo Securities LLC - Analyst : Hey, good morning and congrats on the positive data. Obviously a nice way to start the year. Just a couple of questions for us, I guess first, do you think that EV's onset of action could be a key differentiator here relative to the other worlds and I guess the data that you plan to present at a future medical meeting, will you flesh that out? And then I guess the second question is just given the results today, what's your plan to maximize end use value? Obviously you have SLE, you have psoriasis, but does this require partnering? And if so, when would you do that?

Question: Derek Archila - Wells Fargo Securities LLC - Analyst : Excellent, thank you so much.

Question: Brian Skorney - Robert W. Baird & Co Inc - Analyst : Hey, good morning, everyone. Let me just offer congrats on really stellar data as well. So there, there's a mix of clinical data from both TI-2 inhibition as well as aisle 23 and aisle 17 inhibition out there with various degrees of validation, sort of having proven out the thesis of potent 24/7 inhibition, being able to at least match. Or Ohio 23 and and clearly substantially improve upon first gen tick 2 inhibition I would assume this would build a lot more confidence on additional indications. So how do you think about prioritization of programs beyond psoriasis and lupus given this data where do you think, the dollar value is best placed, going forward?

Question: Brian Skorney - Robert W. Baird & Co Inc - Analyst : Great thanks and congrats again.

Question: Jeff Jones - Oppenheimer & Co Inc - Analyst : Good morning guys and congrats again on the outstanding data here. I think a lot of key questions have been asked maybe to touch on SLE and as you just mentioned Saphnello and other indications, can you provide any, some thoughts on how this sets you up in SLE given. We don't have Tacada or Io in that space right now and how that impacts your confidence and maybe one follow-up.

Question: Jeff Jones - Oppenheimer & Co Inc - Analyst : Great. I appreciate it. And then just the last question on the bid to qD dosing, Obviously still in progress, any feel for when we might, when you might have an update there and how that fits into the regulatory strategy?

Question: Jeff Jones - Oppenheimer & Co Inc - Analyst : Great thank you very much guys.