{
  "url": "https://struct.news/briefs/alumis-cut-rd-but-its-six-month-diluted-share-count-jumped-666",
  "title": "Alumis cut R&D, but its six-month diluted share count jumped 66.6%",
  "summary": "Alumis had 127.7M diluted shares in the latest six months, while revenue fell to $1.7M and cash to $63.7M.",
  "published_at": "2026-08-13T23:46:24.471768+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "Alumis Inc.",
    "ticker": "ALMS",
    "cik": "1847367",
    "sector": "Healthcare",
    "industry": "Biotechnology"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-13",
    "accession": "0001847367-26-000018",
    "url": "https://www.sec.gov/Archives/edgar/data/1847367/000184736726000018/alms-20260630x10q.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-13",
    "url": "https://www.sec.gov/Archives/edgar/data/1847367/000184736725000041/alms-20250630x10q.htm"
  },
  "reported_figures": [
    {
      "group": "Alumis: pipeline spending and valuation context",
      "label": "Revenue",
      "value": 24050000,
      "display": "$24.1M",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001847367-26-000018",
        "filing_date": "2026-08-13"
      }
    },
    {
      "group": "Alumis: pipeline spending and valuation context",
      "label": "Market cap",
      "value": 2070471344.4,
      "display": "$2.1B",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "market_data",
        "label": "Observed market close",
        "as_of": "2026-08-13"
      }
    },
    {
      "group": "Alumis: pipeline spending and valuation context",
      "label": "EV / sales",
      "value": 82.36180226195427,
      "display": "82.4x",
      "unit": "multiple",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001847367-26-000018",
        "filing_date": "2026-08-13"
      }
    }
  ],
  "watch_next": [
    {
      "type": "product_pipeline",
      "statement": "R&D spending fell as ONWARD1 and ONWARD2 completed enrollment and reported topline results, while ONWARD3 and regulatory work continued.",
      "importance": "medium",
      "evidence": "The decrease was primarily due to lower clinical trial and CRO expenses reflecting the progression of our envu clinical program following the completion of enrollment and reporting of positive topline results",
      "source_date": "2026-08-13"
    }
  ],
  "related_tickers": [
    "ALMS"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}