ALUMIS INC.

For the period ended Sep 30, 2025. Filed Nov 13, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 13, 2025

ALMS$6.40-2.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Statements of Cash Flows


	Nine Months Ended September 30,
(in thousands) · · 2025 · 2024
Cash flows from operating activities · ·
Net loss		$(150,394)	$(199,474)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		35,417	13,099
Net accretion of discounts on marketable securities		(3,876)	(1,987)
Depreciation and amortization		2,629	2,332
Non-cash lease expense		1,161	31
Loss on disposal of fixed assets		—	5
Change in fair value of derivative liability		—	5,406
Gain on bargain purchase in connection with the ACELYRIN Merger		(187,907)	—
Impairment of long-lived assets		529	—
Changes in operating assets and liabilities:
Research and development prepaid expenses		9,426	(9,581)
Other prepaid expenses and other assets		13,346	(1,605)
Other assets, non-current		(5,073)	—
Accounts payable		(11,586)	5,322
Deferred revenue		1,944	—
Research and development accrued expenses		4,935	7,193
Other accrued expenses and current liabilities		2,554	426
Operating lease liabilities		(2,328)	(1,481)
Other liabilities, non-current		168	—
Deferred income tax liability		(8,561)	—
Net cash used in operating activities		(297,616)	(180,314)
Cash flows from investing activities
Maturities of marketable securities		305,423	42,000
Purchases of marketable securities		(161,648)	(185,374)
Purchases of property and equipment		(653)	(1,366)
Cash, cash equivalents and restricted cash acquired in connection with the ACELYRIN Merger		49,742	—
Net cash provided by (used in) investing activities		192,864	(144,740)
Cash flows from financing activities
Proceeds from issuance of redeemable convertible preferred stock and derivative liability, net of issuance costs		—	258,461
Proceeds from initial public offering, net of underwriter discounts and commissions and other offering costs		—	193,316
Proceeds from a private placement transaction		—	40,000
Proceeds from issuance of common stock upon exercise of stock options		—	591
Repurchase of common stock shares issued upon early exercised restricted common stock		(17)	(6)
Proceeds from issuance of common stock under the 2024 ESPP		766	—
Net cash provided by financing activities		749	492,362
Net (decrease) increase in cash, cash equivalents and restricted cash		(104,003)	167,308
Cash, cash equivalents and restricted cash at beginning of period		170,632	47,133
Cash, cash equivalents and restricted cash at end of period		$66,629	$214,441
Supplemental disclosures:
Conversion of 168,489,871 shares of redeemable convertible preferred stock upon the closing of initial public offering		$—	$639,237
Equity consideration transferred in connection with the ACELYRIN Merger		$238,077	$—
Vesting of early exercised stock options and unvested restricted shares of common stock		$609	$964
Purchases of property and equipment in other accrued expenses and current liabilities		$—	$6
Right-of-use assets obtained in exchange for operating lease liabilities		$1,776	$—
Recognition of derivative liability upon issuance of redeemable convertible preferred stock		$—	$8,913
Settlement of derivative liability upon issuance of redeemable convertible preferred stock		$—	$(14,319)

Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents		$65,257	$213,417
Restricted cash, non-current		1,372	1,024
Total cash, cash equivalents and restricted cash		$66,629	$214,441

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