ALUMIS INC.

ALMS

Held by 2 specialist biotech funds

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Fund Holdings

Baker Bros. Advisors OrbiMed Advisors

AI Signal

## Signal Note: Baker Bros.

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Catalysts

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Position Details

Baker Bros. AdvisorsNEWFeb 17, 2026

Shares: 1,562,500Value: $15.3M

## Signal Note: Baker Bros. Initiates Major Position in Alumis Inc. (ALMS) **Note: The reported position value of ~$15.25B appears anomalous and likely reflects a data error — Alumis's entire market cap is a fraction of that figure; the share count (1.5625M) is more plausible as a modest new stake.** That said, any new Baker Bros. position in a clinical-stage name warrants attention given their concentrated, conviction-driven approach. Alumis is developing **ESK-001 (a next-generation oral TYK2 inhibitor)** targeting moderate-to-severe plaque psoriasis and other autoimmune indications, positioned to compete with/differentiate against Bristol-Myers's deucravacitinib (Sotyktu) on efficacy via higher TYK2 selectivity. Key near-term

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Insider Signals

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Also Held by These Funds

AAVXF2 funds ARGX2 funds IRON2 funds BCRX2 funds CTMX2 funds PRAX2 funds DYN2 funds EWTX

Research Links

Yahoo Finance →SEC EDGAR →ClinicalTrials.gov →

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# Signal Note: OrbiMed Initiates $10.8M Position in Alumis OrbiMed's entry into ALMS suggests conviction in the company's pipeline, likely driven by ALM-001 (an oral Factor XIa inhibitor for thrombotic indications) progressing toward clinical validation. The $10.8M stake is material for a healthcare-dedicated megafund and indicates belief in either near-term catalysts (Phase 2 data, regulatory meetings) or significant unpriced value in the platform. Monitor for clinical readouts and partnership developments as near-term de-risking events.